It appears there’s trouble in the Ethereum paradise. The blockchain renowned for its NFT dominance lost its edge to Cardano (ADA). Also, this crash affected ETH’s price, causing a significant decline to the altcoin.
While this goes on, a new NFT and metaverse project, Pikamoon, continues to enjoy the attention of investors and whales as it breaks new bounds in its ongoing presale. Here, we examine the struggles surrounding the Ethereum ecosystem and the potential this new NFT and metaverse project presents.
Ethereum (ETH) Struggles to Maintain a Positive Momentum
Since the overall bearish market condition began, several crypto prices have taken a hit. Recently, this affected ETH’s price, dipping by 7.70% from $1,790 on August 17 to $1,4648 by the end of August. This price drop raises concerns for Ethereum (ETH) considering how it’s faced stiff competition from another market leader known as Cardano (ADA).
As expected, in the last 7 days, Cardano’s NFT floor price index shot up by 22% over that of Ethereum (ETH) on Stocktwits NFT. This change reveals Cardano’s (ADA) potential as a growing NFT trading platform, contesting the historical dominance of Ethereum (ETH).
According to analysts, this ETH price drop can also be linked to suspicions of futures market liquidation. This recent fall in the price of Ethereum (ETH) comes after weeks of consolidation, and its links to futures market liquidations cannot be downplayed. Plus, the ETH price fall coincided with a significant drop in Open Interest, indicating a substantial liquidation wave.
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Introducing Pikamoon (PIKA)
Pikamoon makes itself stand out from other GameFi projects by presenting a metaverse game every gamer can enjoy thanks to the online and offline gaming modes. Pikamoon can be played on the go, giving PIKA more use and demand, and attract a significant value boost, and more profits for investors.
To deliver the best version of the metaverse and NFTs, Pikamoon (PIKA) builds on two blockchain networks renowned in these areas —Ethereum blockchain for NFT and MultiversX (formerly Elrond) for metaverse gaming— By choosing these blockchain networks for its development, Pikamoon and PIKA get enough support to expand easily and continue to deliver explosive profits to investors regardless of the market conditions.
PIKA is the native currency of this project. Hence, it is central to every activity happening in every part of the project. These applications and use cases get rewarding when the deflationary supply of the token meets a high demand for PIKA from gamers and other Pikamoon users who need the token due to its numerous utilities. PIKA becomes scarce, increases in value, and delivers more profits to investors.
Join the Pikamoon Revolution!
Pikamoon presale has shown everyone a glimpse of what the project can achieve after its fast sellouts and rewarding ROIs so far. This explains the frenzy around the project and why experts acknowledged the project’s 50x profit potential and are buying PIKA en masse.
PIKA is set to deliver 50x this year and savvy investors are wasting no time in accumulating the promising token. Become a part of this massive ROI giveaway by buying $PIKA today.
Find out more about Pikamoon (PIKA):
Buy Now: https://pikamoon.io/buy
Website: https://pikamoon.io
Twitter: https://twitter.com/Pikamooncoin
Telegram: https://t.me/pikamoonofficial
Source: https://www.analyticsinsight.net/ethereum-loses-nft-dominance-as-price-dips-while-this-new-meme-coin-and-gamefi-project-breaks-new-bounds/