What’s Hot In Crypto Today
The start of August has seen some interesting news hit the world of crypto with Ripple (XRP) releasing information that they sold $409 million worth of XRP across Q2, Polygon (MATIC) having a 30-day increase of 95% entering August, and Ethereum (ETH) seeing a similar rise of 60%.
The phrase money never sleeps is far more applicable to the crypto industry than within the stock market and is why it is imperative to keep up to date with the latest news as the market can change in an instant. Recently Avalanche has continued to gain plaudits and we will assess the developments of the competing layer-1 alongside diving into the new meme coin RoboApe (RBA), which is aiming to change the narrative around meme coins by employing the traditional community appeal with genuine utility.
Why Many Developers Are Bullish On Avalanche
Avalanche (AVAX) over the last 12-18 months has been garnering attention from many developers and crypto natives within the industry and is often seen as a new alternative to Ethereum (ETH) or Solana (SOL). This is largely because the network is cost-efficient, has extremely fast transaction times, and has good levels of operability making it an attractive choice for developers to use.
The coins that become the staples of the industry and survive in the long run are generally the ones that offer developers the best option to build on as ultimately if new applications or services are not being developed then the demand for the network and vis-a-vis the token will cease to exist.
Developers love Avalanche and the utilisation of the network is ever-growing with thousands of new innovative projects being built on the network. As such, Avalanche hit its ATH of $134.56 in November 2021 after floating around the $4 mark just 12 months prior. Whilst the coin has seen a decline that is consistent with the rest of the market Avalanche is starting to bounce back and many believe that the protocol is destined for success.
Usually, as a rule of thumb is those who are building the world of Web3 like a particular network it is wise to take note.
RoboApe’s Launch Is Imminent As The Protocol Looks To Revolutionise Meme Coins
Although some within the crypto space think ill of meme coins, you have to acknowledge the benefits they provide for the wider ecosystem. Dogecoin for example was many crypto users’ first exposure to crypto and got them interested in digitalised assets before branching out into projects that offer more utility. With allegedly around 4% of the world holding crypto there are still so many new users to be onboarded and education is the best way forward. Meme coins are simple, easy to understand, and even if some don’t hold a great deal of utility do certainly have a purpose.
However, RoboApe (RBA) is looking to become a new-age meme coin by blending utility with the traditional meme coin’s simplicity and fun design. Through the RoboApe Academy, the protocol will provide a free and easy-to-use educational platform to help inform new users about the world of crypto.
The project does not stop here though and is also targeting the gaming sector. This is a calculated move as the world of gaming is one that is set to see accelerated integration of crypto and studies have shown that gamers are more open to the prospect of crypto than other demographics. As such, RoboApe is releasing RoboApe Esports and will create gaming events where prizes and rewards are given via their native token RBA.
Furthermore, RoboApe will also have its own NFT marketplace, swapping mechanism, and a relatively high burn rate for token usage which will make RoboApe a deflationary asset.
All in all, RoboApe has the potential to revolutionise the meme coin sector and make the token more than just a meme. With the presale launching, shortly many are watching RoboApe and it will be interesting to see the developments of the protocol in the coming months as the business proposition is exciting.
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