Blast Network Has Lost Layer-2 Wars: BLAST Price Drops -20% MoM Amid Blockchain Decline
BLAST crypto is tumbling as dwindling interest fuels a BLAST price sell-off. The -5.3% drop over the past 24 hours worsened the -19.4% 30-day loss for this layer-2 blockchain.
Built as a bespoke Ethereum-compatible layer-2 scaling solution utilizing optimistic roll-ups with a unique native yield feature, Blast blockchain was highly anticipated amid the layer-2 fever that swept through rivals such as BASE and AVAX.
But while rampant meme coin trading activity fuelled Coinbase’s BASE to emerge as the latest top 5 blockchains, BLAST has been left in the dust with just $1.27Bn in total value locked versus Arbitrum’s $12.97Bn.
(SOURCE)
The image worsens when you compare past days’ transactions, with BLAST mustering a measly 8.55 TPS on Sunday, versus Base chain which processed 70.63.
Explore: Why is Crypto Down? Will Bitcoin Recover and Break 70K?
BLAST Price Analysis: As Blast Network Performance Declines – Is BLAST Doomed to Bleed Out?
As BLAST price
Price
Trading volume in 24h
Last 7d price movement
continues to trade to the downside in a tightening bearish pendant pattern, BLAST’s market price is standing at $0.0075 (representing a 24-hour change of -1.33%).
At present, Blast crypto remains trapped in a suffocating downside technical pattern, which continues to provide bearish confirmation amid the sustained BLAST price pressure.
Slowing network growth appears to be behind the dramatic bleed-out, which leaves BLAST price trading at a worrying -20% Month-on-Month performance.
On the short-term frame, BLAST appears intent on heading lower, with a breakout to the downside teasing further losses.
Some hope emerges from the RSI indicator, which shows that BLAST’s price is severely oversold at 30.5, suggesting a chance at a bounce in the coming week.
Indeed, a bounce is exactly the doctor’s orders for BLAST price, which is on the precipice of complete capitulation for holders, with no available lower-support levels aside from baseline support at a launch price of $0.00049.
DON’T MISS: The Next 100X Cryptocurrency To Stack in November 2024
Layer-2 War Narrative Will Fade: But This New Meme Coin Could 100x
Pepe may be the only frog that can't swim,
but that won't stop him from enjoying the water with his new Gigabrain flotation device! 🛟🧠 pic.twitter.com/G2RM6QTiNI
— Pepe Unchained (@pepe_unchained) November 3, 2024
Investors looking for bigger gains than what TEE will likely deliver must search out new meme coins with high potential.
One of the strongest new meme coin projects right now is Pepe Unchained (PEPU), which has merged as a notable project within the ecosystem due to its innovative approach to blockchain technology and meme culture.
By leveraging the Pepe the Frog meme, which has both widespread recognition and controversial history, Pepe Unchained deeply engages with internet culture.
Meanwhile, its blockchain aims to solve some of the most persistent issues with current blockchain technologies used by meme coins, like high transaction fees and slow processing speeds.
The new meme coin Pepe Unchained promises transactions up to 100 times faster than Ethereum and is establishing itself as a leading layer-2 protocol within the meme coin sector.
The hype surrounding the new meme coin is palpable—its presale just hit the monumental $23 million mark.
The presale’s huge success is a testament to its initial community and investor interest and provides substantial capital for its development, marketing, and ecosystem expansion.
In a market where meme coins are often seen as fleeting trends, Pepe Unchained’s approach with its own blockchain and staking could position it as more than just a meme but a utility token within a new ecosystem.
$PEPU is undoubtedly one of the most anticipated new meme coin launches in 2024.
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