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Sam Cooling
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Sam Cooling
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Are NFTs making a comeback? Following the surge in BAYC’s ApeCoin after the ApeChain launch, investment is now shifting towards Axie Infinity, The Sandbox, and emerging layer-2 blockchains.
The crypto winter hit hard, particularly impacting NFT holders who watched the value of their digital assets plummet amidst widespread claims that NFTs were dead.
However, recent developments like the launch of ApeChain and the rise of GameFi platforms are revitalizing interest in once ‘dead’ NFT projects, injecting new vitality into the sector.
Over the course of this year, NFT volumes have mounted an impressive recovery of volume, with a notable uptick over the past few weeks amid a resurgence of interest in Bitcoin and Solana-based NFTs.
ApeChain Promises a Renewed Boost for BAYC Holders
The recent launch of ApeChain has boosted the performance of BAYC NFTs, especially with the new NFT-centric layer-2 bolstering investor confidence in the prospects of a fusion between rampant meme coin culture and non-fungibles.
Floor price surged to hit 13.5 ETH this week, amid a sudden inflow of +112.33% in trading volume.
The move has also boosted Apecoin price – smashing a serious long-time frame downtrend with a thunderous +130% pump over this past weekend.
Now trading at $1.41 (a 24-hour change of -9.94%), APE price has entered localized retracement over the past day as Apecoin holders mount a defense of support at $1.38.
Backed by underfoot lower support, around $1.25, a cooling RSI hints at a return to the upside for Apecoin in the short-time frame.
Axie Infinity: Ai-Powered Axie Pals Stir This NFT GameFi Project
Back in September, long-standing NFT-based GameFi project Axie Infinity saw the launch of the much-awaited AI-powered in-game companions – Axie Pals.
Initially aimed at improving in-game user experience, the move also improved the experience of loyal AXS hodlers with the launch reinvigorating price action.
Currently trading at $5.12 (a 24-hour change of -3.16%), AXS price remains bouncing in a consolidatory range between lower support at $4 and a higher resistance level around $5.7.
A recent third rejection at the $5.7 level suggests that coming weeks will witness a drop as AXS continues this range, yet, with bullish support from the 20DMA, Axie Infinity price could catch a bounce at $4.75.
The Sandbox Follows Suit Despite Bullish 2024 Open For SAND
Despite bullish project news sweeping in to stoke The Sandbox price action at the start of the year, namely a successful $20M promissory note funding, and a 43% uptick in NFT mints in Q3, 2024, the grip of H2 hasn’t escaped SAND price action.
Currently trading at $0.27 (representing a 24-hour change of -1.66%).
SAND price reflects the ranging moves by Axie Infinity, with a similar consolidation established between $0.23 and $0.30.
Yet, some hope for Axie Infinity remains on the short time frame as a recently reclaimed 20DMA seems set to trigger a bounce at $0.26, with a matching bullish switch on the RSI suggesting there could be a break to the upside from here.
Missed the ApeCoin Surge? Pepe Unchained’s Layer-2 Might Reach $1Bn as It Revitalizes the PEPE Ecosystem
Meanwhile, stepping away from the multi-billion market caps and looking at growing opportunities in the meme coin space, there is perhaps no more exciting opportunity this week than Pepe Unchained.
Seeking to address one of the most common complaints amongst meme coin traders—high gas fees—Pepe Unchained is on a mission to free the legendary Pepecoin from its ERC-20 prison by launching a much-needed dedicated meme coin layer-2.
What does this mean? In a nutshell, Pepe Unchained will deliver faster transactions at a lower cost, enabling a highly scalable playground for the best meme coin developers in the crypto space.
But this is so much more than a new layer-2 piggy-backing on Ethereum; it is about developing a new hive for meme coin activity, and that requires ecosystem growth.
The OG developers working on the Pepe Unchained project are keenly aware of that.
As such, they’re already planning a whole suite of ecosystem development tools, including block explorers to enable research, super low-cost cross-chain bridges to draw in meme coin traders from across the industry, and, a new developers grant fund.
With Frens With Benefits, Pepe Unchained will fund developers in the space to build on the latest layer-2 solution, so expect big things to come.
Better yet? You can claim your slice of the pie and profit from this huge new venture.
The experienced development team (which boasts more than 100 years of combined blockchain development XP) is bootstrapping this project with crowdfunding via the $PEPU presale.
Pepe Unchained’s presale raised a jaw-dropping $21.6M this week, as eagle-eyed investors across the space industry target $PEPU as one of the hottest launches of 2024.
So don’t miss out on this incredible opportunity, next time you hear about Pepe Unchained, you will probably be trading on it.
To stay current, engage with the Pepe Unchained community on X and Telegram.
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.
