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In 2023, memecoins – especially those on the Solana blockchain – experienced a sharp increase in popularity. These playful tokens, popularized by internet culture and promoted by community enthusiasm, saw massive price increases, leaving some investors with life-changing returns. But for many, the wave of Solana meme coins passed in a blur, leaving them wondering, “What’s next?”
However, there is a new option to be aware of: ETFSwap ($ETFS). Experts suggest that investors who missed the Solana memecoin craze should not repeat the mistake and invest early in the ETFSwap ($ETFS) before it makes its parabolic run this year.
How the Solana memecoin Frenzy came about
Bonk (BONK) was the first meme coin cryptocurrency built on the Solana (SOL) network and went viral. Bonk’s mission was to create a decentralized platform where users could “trade and speculate with meme-based assets.”
The success of Bonk (BONK) opened the floodgates as other Solana memecoins flooded the market, each with its unique twist. Names like “Shiba Solana” (SHIBSOL), “Solana Floki Inu” (FLOKISOL), “Solana Doge” (SDOGE) and countless others emerged, all capitalizing on the growing popularity of memecoins and Solana’s infrastructure. These new coins strengthened Solana’s position as the platform for investors in memecoins.
Nevertheless, Solana memecoins were not known for their groundbreaking technology or complex functionalities. Unlike established cryptocurrencies with development teams and roadmaps, these memecoins thrived on community involvement.
Social media platforms such as Telegram, X (formerly Twitter), Discord and Reddit helped bring these Solana meme coins into the spotlight. Influencers, both crypto-focused and mainstream personalities, jumped on the bandwagon and created a wave of hype that further pushed their prices higher, despite their limited real-world use cases.
However, the rise of Solana memecoins could only be sustained for a while. As with any speculative asset, a sudden shift in investor interest or negative news events can lead to sharp price drops. Solana memecoins, which lack the underlying fundamentals of established cryptocurrencies, were particularly sensitive to these fluctuations.
Early investors who had won big started cashing out, leading to a domino effect. As the initial wave of excitement subsided, selling pressure increased, causing prices to fall. The “fear of missing out” (FOMO) that caused the initial price increase eventually disappeared. Given the volatility and uncertain future of these memecoins, newer investors became more cautious. By the end of 2023, the frenzy had subsided significantly, leaving investors looking for a new avenue for big gains.
Why ETFSwap ($ETFS) will dominate in 2024
The Decentralized Finance (DeFi) space is ushering in a new opportunity with the ETFSwap platform and its utility token $ETFS. Experts say $ETFS has the potential to grow even bigger than the Solana memecoin craze, offering sustainable and higher returns by 2024.
Unlike memecoins that survive on community buzz and social media, ETFSwap ($ETFS) is useful within the DeFi space, thanks to its unique offering, including its revolutionary staking model.
ETFSwap ($ETFS), using DeFi yield aggregation and optimization strategies, works to potentially earn higher stake rewards for your crypto holdings. This essentially means a potentially higher and more consistent return on your existing cryptocurrencies.
ETFSwap’s focus on established cryptocurrencies is more measured than the high-risk, high-reward nature of memecoins. This doesn’t eliminate volatility completely, but makes ETFSwap ($ETFS) a more reliable investment for long-term profits.
In addition to wagering rewards, users can maximize their returns, with ETFSwap offering up to 10x leverage on all trades. Users can also trade anonymously as the platform does not require KYC, which is mandatory when trading with centralized entities.
Clearly, ETFSwap is focused on long-term value, which Solana memecoins cannot provide. It’s no wonder experts predict that the $ETFS’ parabolic rise could continue beyond 2024 as it has enough bullish momentum to reach unprecedented heights.
Fortunately for those who have yet to invest in $ETFS, Phase 1 of the token presale is still ongoing. Each token costs $0.00854, and this price is expected to double in Phase 2 of the presale. That’s why investing now is the right choice!
For more information about the $ETFS presale:
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Disclaimer: This is a paid article, from a third party. Cryptocurrencies are a highly volatile and unregulated investment. Readers should do their own research before taking any action regarding the promoted company or any of its mentioned businesses or services. CryptoBenelux is not responsible, directly or indirectly, for any damage or loss caused by or in connection with reliance on any goods, services or content mentioned in the press release.
Source: https://cryptobenelux.com/2024/04/13/solana-memecoins-gemist-in-2023-experts-zeggen-dat-u-de-etfswap-etfs-run-in-2024-niet-mag-missen/
