Is the China Narrative back? Smart money scooped Conflux, Neo, and Filecoin in the Q2 crypto market dip, and attention is also growing around this other viral meme coin.
It might be summer, but snow is beginning to fall in crypto. The market is in red after a superb Q1 2024, when Bitcoin and top altcoins exceeded expectations.
Cracks form from meme coins, NFTs, DeFi tokens, and even leading altcoins like Solana and Ethereum.
Whether these crevices will expand or not remains to be seen. However, investors are looking elsewhere as they form, diversifying their portfolios with top-performing coins.
Interestingly, more traders are turning their attention to China-based projects.
Top 3 China Coins To Consider In June 2024
In this piece, we shall explore three established cryptocurrencies with China bases that investors are considering. These projects are:
1. Conflux (CFX): The “Chinese Ethereum”
Ethereum is undoubtedly one of the crypto OGs. It is the first and second most valuable smart contracts platform, and it inspires.
And out of Ethereum, Conflux came to be. Conflux is dubbed the “Chinese Ethereum” and stands out for its regulatory compliance and high-profile partnerships.
What’s cool about Conflux is its unique hybrid consensus mechanism. It integrates Bitcoin and Ethereum functionalities, paving the way for seamless transfers.
Of note, its EVM-compatible Bitcoin layer-2 has fueled the growth of DeFi and gaming applications on the platform.
(CFXUSDT)
Reflecting this is the sharp growth of CFX. After dropping to as low as $0.021 in January 2023, the coin is now up 5X despite recent losses.
2. Neo (NEO): Building A Smart Economy
Founded in 2014, Neo is one of the earliest China narrative blockchains. Aiming to compete with Ethereum, the platform is building a “smart economy” through which users can trustlessly manage their assets and digital identities.
Recently, Neo partnered with Phoenix to explore the potential of AI in accelerating adoption. Neo has also partnered with SubQuery, a decentralized data indexing service. With this deal, Neo X developers can easily access SubQuery’s solutions while developing dApps.
However, the driving force of recent excitement has been the upcoming utility for GAS tokens, which will unlock side-chain functionality and scalability for NEO.
(NEOUSDT)
After plunging to all-time lows in 2016, NEO has since 146X to spot rates despite being down -94% from all-time highs.
3. Filecoin (FIL): A Decentralized Storage Network
Filecoin, the decentralized storage network, is a market leader in this category and once again homegrown in China. They have integrated Squid Router and are actively conducting initiatives like FIL-RetroPGF-1.
FIL is central to Filecoin as it continues to enhance its network, prioritize, and accelerate paid storage and boost on-chain activity.
They are also targeting emerging markets like cloud computing and AI.
(FILUSDT)
At spot rates, FIL is up roughly 130% from all-time lows but down 98% from all-time highs. As it is, the coin could be massively undervalued.
All Eyes On Pepe Unchained: A 100X Meme Coin?
While the spotlight shines on these China narrative projects, a new meme coin, Pepe Unchained, is going viral in the ongoing presale.
Leveraging the global popularity of Pepe the Frog, Pepe Unchained will roll out an Ethereum Layer 2 solution, taking on Base and Arbitrum.
At the same time, PEPU stakers will receive ultra-high staking yields.
Through their layer-2 solution, transacting on Pepe Unchained will be extremely cheap with near-zero fees.
The interest ahead of this launch is evident. So far, Pepe Unchained has raised over $500,000 in less than one week.
Each PEPU is available for just $0.008032–a gift for savvy investors getting in early.
At the same time, those who choose to stake receive a whooping 4,737% APY. Over 33.7 million PEPU have been staked.
From what Pepu Unchained brings to the table, it is clear that PEPU is a diamond in the rough.
Most analysts think the meme coin will explode, rallying by 100X after launching and listing on top exchanges.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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