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The Tide Is Turning
The crypto market in recent times has seen some consistency after what has been a turbulent Q2 and Q3 with high levels of inflation and the collapse of Luna being the primary causes. Many investors now believe the bottom has well and truly been hit and consistent gains are on the horizon, particularly for utility projects as investors and whales look to hedge against inflation and find abnormal gains in a bearish market.
However, alongside the top coins such as Ethereum (ETH) and Solana (SOL), some start-up projects such as RoboApe (RBA) have been gathering attention as an alternative investment that can reap endowed rewards. But what is RoboApe and why are many within the market bullish on the protocol?
RoboApe (RBA) labels itself as the utility meme coin of the future and after diving into their whitepaper and the roadmaps that the company has planned, on the surface, it looks like it could surpass the likes of Dogecoin as the premier meme coin in the market.
Dogecoin's utility lies as a store of value and the community around the project that it has established. However, outside of being used for payments, the coin doesn't have a great deal of utility value. Whilst this doesn't matter for the success of Dogecoin as it is not trying to be something that it is not, it does open up the possibility for a meme coin that provides utility to become a market leader.
RoboApe is releasing a plethora of products and services to make it the unicorn within the meme coin space. They are primarily focusing on the gaming industry, producing events and gaming tournaments that are accessible to the masses, but also for pro players and are advocating fair pay for gamers. Rewards from these events will be paid out in RoboApe's native coin RBA.
The project is also a community driven where members' opinions and thoughts about the direction of the coin are taken into account and dictate the project's future. Moreover, the coin will have its own RoboApe Academy that will help educate and onboard new users into the space. One of the key factors in Dogecoin's success was as a gateway into crypto for many new users and RoboApe can do exactly the same thing.
Amidst the turbulence, Ethereum was one of the most heavily affected coins to see a downturn, as sales of NFTs slowed and the demand for the network decelerated. However, the utility of Ethereum is arguably the largest within the crypto ecosystem and the bounce over the last 30 days has been astronomical. At the time of writing Ethereum has seen a 60% increase over the last 30 days and with the announcement of the ETH merger entering its final testing this August sentiment remains high.
As such expect to see Ethereum continue to prosper in the long run, but be aware that although the bottom may have been hit the market will still see ups and downs as rates are seeing largescale hikes in the US and across the world. Nevertheless, when in doubt zoom out and Ethereum's chart is starting to look reminiscent of a run-up.
While Ethereum is bouncing back and RoboApe is launching Solana has been one of the most proactive top 20 coins whilst the bear market was expanding. Solana is expanding into the world of mobile phones and producing the world's first Web3-friendly phone to increase the accessibility of Web3, DeFi, and all things Blockchain to consumers.
The news was welcomed not only by Solana lovers but also by the wider market as it paves the way for innovation for the entire crypto ecosystem. Off the back of these developments, Solana has seen a 30% gain in the last 30 days and is also looking strong for continued gains. There was a reason Solana rose to prominence over the previous 18 months and became one of the top performers across 2021, but now floating between $40-$45 many users believe the utility is not reflective in the price and are eating this dip.
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