The post So Long $SOL — Solana’s Network Outage Is Great News for Optimism, Arbitrum and This Eth-Based Memecoin appeared first on Coinpedia Fintech News

So long for $SOL? Solana’s ($SOL) network outage is great news for Optimism ($OP), Arbitrum ($ARB), and this Ethereum-based memecoin Galaxy Fox ($GFOX). On top of the Solana chain shutting down, the release of the Dencun upgrade promises to supercharge Ethereum ($ETH) and everything that lives under its broad umbrella.

The best cryptocurrencies to buy now? Undoubtedly, Ethereum betas. $ETH has everything. The ETF narrative, a fundamental upgrade, and even rumours of an ETF with yield attached. After being quiet for so long, the pendulum is starting to swing again, and $ETH betas- smaller caps whose performance is aligned with Ethereum’s- are ready to fly.

Galaxy Fox ($GFOX) Ultimate $ETH Beta

Galaxy Fox could not have picked a better time to begin its presale. Housed in the Ethereum ecosystem, it will benefit from a rising $ETH price. Additionally, when Ether rallies the wealth created funnels existing holders into more risk-on projects. Galaxy Fox will enjoy this dual-stream boost from the Ethereum ecosystem on top of its position in the GameFi and memecoin narratives. The result? This presale is shaping up to become one of the top cryptos to buy right now.

Introducing a hybrid model to markets, Galaxy Fox takes the viral memecoin exterior, integrates a play-to-earn component, and wraps the whole project up with an excellent tokenomics model. Users can play the Web3 runner game and earn real prizes. Those holding NFTs get in-game stat bonuses. They can stake their $GFOX to payouts correlated with ecosystem growth, and the token burn accrues value via scarcity around the clock.

Small caps are the ultimate betas because they have more aggressive upside potential. A 10% upside move for $ETH translates into a 100% gain for $GFOX. 

Optimism ($OP) Rollup Modularity King

Optimism is expected to see decent gains over the coming weeks. The return of liquidity to Ethereum-aligned chains following the Solana blackout is only one factor. For this optimistic rollup, the massive catalyst will be EIP-4844 and the introduction of blob transactions. This new data availability highway will massively reduce the cost of transacting on layer twos and make these tokens the best cryptocurrencies to buy now.

A new wave of layer twos will be launched, and a good percentage will leverage Optimism’s OP Stack. These chains will then become governed by $OP token holders, and value and price appreciation will flow alongside governance rights. $OP is a top crypto to buy for anybody bullish on modular construction in the layer two space.

Arbitrum ($ARB) Layer-2 Leader

Arbitrum will be another net gainer of EIP-4844, and more excitingly, when cost is reduced, and scalability improves, it unlocks new business models. Crypto could even be entering an era where users transacting on layer twos are paying Solana-esque fees while guaranteeing Ethereum’s security benefits.

Regarding TVL and economic activity, $ARB is the clear leader in the layer two space. Likely, EIP-4844 will accentuate this lead. Holding $ARB while Ethereum is rallying is a no-brainer, and $ARB is the most direct beta play. When $ETH moves 10%, $ARB can quickly move 30%. The Arbitrum incentives program is ongoing, and plenty of capital is washing around this ecosystem with plenty of money to be made.

Closing Thoughts: $ETH Beta Season Starting

Ethereum underperformed in the last two quarters of 2023, but the tide is turning, and $ETH will dominate this quarter. The best cryptocurrencies to buy are the betas that match $ETH’s direction but supercharge the returns.

Galaxy Fox shines as the ultimate beta because of its low market cap, violent upside potential, and excellent narrative positing. Join the presale today!

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

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Filed under: Bitcoin - @ February 10, 2024 10:17 am