Meme Coins And DeFi Cryptocurrencies See Major Boost Amid Market Recovery

Meme Coins And DeFi Cryptocurrencies See Major Boost Amid Market Recovery

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April 26, 2024 by Editor's Desk
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The cryptocurrency market is rebounding after a recent downtrend. Specifically, meme coins and decentralized finance (DeFi) tokens have recorded significant price gains these past few days. This development undoubtedly provides relief for those who were heavily invested in these crypto tokens.  Meanwhile, amidst the current price fluctuations in the market, the ETFSwap (ETFS) token has
Meme Coins And DeFi Cryptocurrencies See Major Boost Amid Market Recovery

The cryptocurrency market is rebounding after a recent downtrend. Specifically, meme coins and decentralized finance (DeFi) tokens have recorded significant price gains these past few days. This development undoubtedly provides relief for those who were heavily invested in these crypto tokens. 

Meanwhile, amidst the current price fluctuations in the market, the ETFSwap (ETFS) token has stood tall, with its value skyrocketing even when the flagship crypto, Bitcoin (BTC), meme coins, and DeFi cryptocurrencies saw sharp drops in their prices. 

Meme Coins Aren’t Playing Around 

Meme coins are back in the spotlight after their prices nosedived with the rest of the broader crypto market. Data from CoinMarrketCap shows that the market cap of meme coins is up in the last 24 hours. Shiba Inu (SHIB) and Pepe (PEPE) have led this resurgence with impressive price gains of their own. 

Shiba Inu (SHIB), currently trading at around $0.00002703, is up over 24% in the last seven days and has also recorded a price gain of over 2% in the last 24 hours. The second-largest meme coin has witnessed some bullish developments in its ecosystem lately. One of them is the Shiba Inu team’s plans to build a privacy-focused blockchain on the Shibarium network.  

The team recently raised $12 million in a token sale to fund this venture. They received backing from major venture capitalists (VCs) like Animoca Brands, Polygon Ventures, and Comma 3 Ventures.  

Pepe (PEPE), on its part, has recorded a price gain of over 36% in the last seven days and an impressive gain of over 16% in the last 24 hours. The meme coin, currently trading at around $0.00000686, has continued to mount a quiet run since the start of 2024 without any particular reason for its bullish momentum. 

However, Pepe (PEPE) is known for its deflationary mechanism, which burns a small percentage of tokens with every transaction. Although it seems insignificant, these token burns could be one of the factors contributing to its price surge. Moreover, interest in the meme coin has been on the rise, meaning more users are actively trading the crypto token.

DeFi Tokens Also Make A Comeback In Crypto

DeFi tokens, led by Avalanche (AVAX) and Chainlink (LINK), have also made a comeback. The market cap for this category of tokens has increased in the last 24 hours. Specifically, Avalanche (AVAX) has recorded a price increase of over 12% and 6% in the last seven days and 24 hours, respectively. 

Avalanche (AVAX), currently trading at around $39, has been in the spotlight this past week. The NFT Quests game, which it collaborated on with Coachella, was one of the highlights of the festival, which just concluded on April 23. 

Meanwhile, Chainlink (LINK), currently trading around $15, has also recorded impressive price gains lately. The crypto token has risen over 14% and 3% in the last seven days and 24 hours, respectively. 

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ETFSwap (ETFS) Has Remained Resilient 

While the recovery made by these meme coins and DeFi tokens is no doubt impressive, ETFSwap’s (ETFS) resilience amidst the market-wide downtrend remains the major talking point. The ETFSwap (ETFS) token’s value has continued to skyrocket and didn’t experience any major setback, even when the broader crypto market saw significant price declines following the heated exchanges between Israel and Iran.  

That is why ETFSwap (ETFS) has continued to draw the attention of crypto investors who believe that the crypto token could mount an unprecedented run irrespective of any black swan event that might occur. 

It is worth mentioning that many crypto whales were reported to have rotated their capital into ETFSwap (ETFS) during the market downtrend, signaling how bullish they are in the ETFSwap (ETFS) ecosystem. Over the past two weeks, these investors have accumulated over 23 million ETFSwap (ETFS) tokens through the token’s presale. 

These investors see ETFS as a long-term play, considering that the DeFi platform, ETFSwap, is set to lead in the tokenization industry, which is projected to be a trillion-dollar market soon enough. Besides ETFSwap’s long-term potential, there are already enough reasons why anyone should be motivated to hold the TFS token.  

ETFSwap (ETFS) provides attractive staking rewards that are second to none. By holding the token, users will also partake and share in the revenue earned by the ETFSwap platform. Considering how successful the DeFi platform could become, the revenue shared among token holders is expected to be very substantial. 

Stage 1 of the token presale is still ongoing for those yet to invest in the token, and each token costs $0.00854. However, anyone who fails to act now could easily miss this presale stage, as the tokens are expected to sell out even before the scheduled end date. 

 

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community