Based on data from investment manager VanEck, Ethereum Layer 2 solutions are expected to reach a market capitalization of $1 trillion by 2023. According to the report, it can take advantage of Ethereum's main challenges: limited data processing, storage, and computing power.
Two of the largest scaling solutions are Arbitrum (ARB) and Optimism (OP), with solid price performance. But another project built on Ethereum is also rising, and that is KangaMoon (KANG), which soared 290%. Today, we will take a look at their price performance to see how high they can rise and see which one becomes one of the top DeFi projects.
Kangamoon (KANG) 290% increase
KangaMoon (KANG) has already started dominating the charts with a massive 290% gain from $0.005 to $0.0196 and could see impressive growth. It has also raised more than $4.3 million and could raise $4.7 million this week.
The main reason for this huge momentum is that this cryptocurrency goes beyond the classic metaphor of meme coins and introduces a vast ecosystem that brings massive amounts of token utility to players. On top of the platform is a Play-to-Earn (P2E) element combined with social Fi features and a community-driven approach.
Players can create their own KangaMoon character, through which they can participate in tournaments, participate in battles, and even bet on battles to get rewards in the form of KANG tokens and NFTs. In fact, he currently has over 5,800 KANG holders and has over 20,000 registered users in the community. Based on the latest analyst forecasts, the cryptocurrency could soar 100x after its launch, making it one of the top DeFi projects.
Arbitrum (ARB) to soar to $2.32 by end of Q4 2024
Arbitrum (ARB) has been showing a price correction in the short term, declining 30.3% over the past 30 days. However, the year-to-date (YTD) increase in Arbitrum price is 24%, rising from $1.44 to $1.69 in the last week.
If Ethereum's Layer 2 solution reaches $1 trillion market cap, Arbitrum crypto has huge growth potential and could quickly regain significant bullish attention. According to Arbitrum's price forecast, 2024 could end at $2.32.
Optimism (OP) expected to reach $5.50 by year-end
Optimism (OP), another Layer 2 scaling solution, showed year-to-date (YTD) growth of 43%. Moreover, in the past week, Optimism’s price has surged from its low point of $3.02 to $3.79, and at this rate it is close to breaking the $4 price barrier.
Moreover, according to the indicators on the chart, the RSI and MACD data of Optimism Cryptocurrency are optimistic, indicating a potential upward price trend. According to Optimism's price forecast, it could reach $5.50 by Q4 2024.
summary
It's clear that Layer 2 solutions are the future, and with that in mind, Arbitrum and Optimism have significant growth potential. But for now, the most bullish performer has been KangaMoon, which has soared 290% and could reach 100x growth since launch. These aspects position it as the best DeFi crypto to jump into 2024 and beyond.
Discover the exciting opportunity of KangaMoon (KANG) presale now!
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