As the cryptocurrency market buzzed with anticipation for the coming Dencun upgrade, the Ethereum layer-2 (L2) tokens experienced a resurgence. With the L2 Total Value Locked (TVL) reaching a notable $38.98 billion on Wednesday, Arbitrum (ARB) and Starknet (STRK) saw gains. ARB, a major player in the L2 scaling solution market with a 41% share, rose by 8% in the past day and 7% over the last week, hitting a high of $2.25. STRK, although smaller with around 4% of the Ethereum L2 throughput, also enjoyed a 1.5% daily increase to nearly $2.5, showcasing the growing investor confidence in these technologies.
However, another noteworthy development was ScapesMania's (MANIA) entry to PancakeSwap post its Token Generation Event (TGE). The debut trading day of MANIA was nothing short of spectacular; the token price not only held its own but also indicated the robustness of its tokenomics and the project's promising future. Unlike many fleeting ICOs, ScapesMania also established itself as a serious contender in the market.
Ride The Wave of Innovation with ScapesMania
The introduction of a new crypto project is usually met with very cautious optimism. But when its numerous past sales and token generation event (TGE) are a huge success, it all seems like the first step on a path full of growth potential. ScapesMania, the groundbreaking casual gaming project, has a lot to show for its unstoppable hype.
$MANIA has stepped into PancakeSwap, a decentralized exchange on the Binance Smart Chain network known for its extensive user base and liquidity. The debut trading day proved to be impressive. The token price demonstrated resilience, indicating robust tokenomics and promising prospects for the project. Unlike short-term ICOs, ScapesMania has proven itself to be a serious venture within a thriving market.
Just let the numbers speak for themselves:
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Holder count: 18.41K
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24-hour trading volume: $2.25M
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Over 2,535 buys and 1,651 sells
ScapesMania also topped DEXTools' Hot Pairs list right away after its debut.
This project started out with a presale event that garnered an incredible $6.125 million. The fact that it attracted over 60,000 followers across different social media networks and a vast number of holders is even more remarkable. This strong support and funding demonstrate how appealing and promising the project is to a wide audience. A real breakthrough might be just around the corner, so it would be a waste not to grab $MANIA tokens before they skyrocket.
The launch of liquidity pairings including MANIA/WBNB and MANIA/USDT marked the beginning of active trading. The demand from the community led to USDT becoming the main source of liquidity.
Why get involved with ScapesMania now that it's listed? First, $MANIA tokenomics are balanced, with a cliff and vesting system helping maintain stability. Second, ScapesMania incentivizes community members through its staking program, rewarding commitment with extra tokens. Third, through DAO governance, community members can vote on ecosystem development decisions. Finally, ScapesMania continuously expands token utility, offering more benefits to $MANIA holders.
With a strong plan for promoting the project after listing, its success might keep up the record-breaking pace after its debut. The team's dedication to long-term development and prominence in the cryptocurrency industry is shown by their impressive marketing efforts — 75K+ average monthly traffic is no joke.
Additional upsides that may be the biggest deciding factors when it comes to growth are:
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The project's smart contract has been approved by BlockSafu. Holders may rest certain that the project's infrastructure is reliable and up to par thanks to this endorsement.
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Enthusiastic support from numerous notable crypto influencers. It lends legitimacy and affirms ScapesMania’s status as one of the promising new projects.
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Experienced team. Innovating and executing a project successfully requires a team of seasoned specialists. This project is in a strong position to overcome any obstacles and take advantage of opportunities.
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Bright future. The project has come a long way, but it still has a long way to go. There are tentative plans to list on a centralized exchange (CEX), which will provide access to more markets and more liquidity.
Everything about ScapesMania was carefully designed to facilitate major growth potential. From successful, well-publicized sales to its advantageous alliances, seasoned staff, and strategic positioning in the casual gaming niche – it looks poised for big things.
Choosing ScapesMania right now, post-TGE, offers early access, exclusive benefits, diversification, lower competition within a dynamic niche, and, more importantly, a potentially perfectly-timed entry point for maximum growth. The coin's stable post-listing price and strong initial support, coupled with an influx of newcomers, indicate long-term confidence, so it might be the time to make your decision.
Arbitrum (ARB): Unlocking Billions in Crypto Gaming
Arbitrum (ARB) approaches the release of nearly 1.1 billion locked ARB tokens, valued at approximately $2.32 billion, constituting around 76% of its circulating supply. This imminent token unlock, scheduled for March 16, created a buzz within the trading circles as investors and traders weighed the potential impact on Arbitrum's (ARB) price.
Reflecting on historical precedents, such as Solana's performance post-token unlock, there's a mix of skepticism and anticipation regarding ARB's price movement. Meanwhile, Arbitrum (ARB) is trading between its first support at $1.852 and the first resistance level at $2.285, showcasing a delicate balance in market sentiment.
Arbitrum (ARB) Technical Analysis
Technically, ARB is hovering near the higher end of its recent trading range, with the Exponential Moving Averages (EMA) for 10, 50, and 200 days at $2.1, $2.073, and $1.986, respectively, indicating a generally bullish trend.
Source: TradingView
The Commodity Channel Index (CCI) at 167.51 signals a strong upward price movement, and the MACD level at 0.0106, coupled with a Momentum of 0.0816, further confirms the current bullish sentiment.
The Relative Strength Index (RSI) at 61.58 suggests that Arbitrum (ARB) is neither overbought nor oversold, providing room for potential price movements in either direction. But the Stochastic %K stands at 81.11, hinting at possible overbought conditions and subsequent price corrections.
Furthermore, the Average Directional Index (ADX) at 22.94 shows a lack of strong trend.
Arbitrum (ARB) Price Prediction
In a bullish scenario, should the token unlock and the subsequent focus on expanding Arbitrum’s gaming ecosystem through the Gaming Catalyst Program (GCP) catalyze positive market sentiment, ARB could break past $2.285, targeting subsequent resistance levels at $2.501 and potentially $2.935. Unlocked tokens will likely bolster the development of new gaming projects and attract existing ones to Arbitrum (ARB).
Conversely, a bearish outcome could emerge if market skepticism prevails, leading ARB to retreat towards its lower support levels at $1.634 or even $1.201. Such a scenario could be influenced by the market's reaction to the large volume of tokens entering circulation, reminiscent of the cautionary tales from other token unlocks.
As March 16 draws closer, the anticipation and uncertainty within the crypto community are palpable, setting the stage for Arbitrum's (ARB) significant market movements in either direction.
Starknet (STRK): Soaring with Ethereum Dencun
With the Starknet Foundation's announcement of an initiative to reduce fees in tandem with the Ethereum Dencun hard fork, Starknet (STRK) is poised for notable developments. While the Dencun upgrade is expected to reduce gas fees on L2 rollups by 75%, making L2s more attractive due to the lowered costs, STRK stands to benefit immensely from these changes.
The reduction in gas fees and the shift to a more cost-effective transaction type as part of Starknet’s (STRK) 0.13.1 upgrade aligns with the broader market's evolution towards efficiency and scalability.
Starknet (STRK) Technical Analysis
Technically, STRK is trading in a range between its first support level at $1.802 and its first resistance level at $2.992.
Source: TradingView
The token's current dynamics are supported by its 10-day EMA at $2.478, closely aligned with its last trading price, and the 50-day and 100-day EMAs at $2.36 and $2.192, respectively, indicating a positive trend.
The Stochastic %K is neutral at 53.44, while the ADX at 51.7 indicates a growing trend strength.
However, the RSI at 61.58 suggests a slight tilt towards overbought territory, but not excessively so.
Additionally, the slightly negative CCI at -15.09 and the marginal negative Momentum could suggest some hesitancy among traders.
Starknet (STRK) Price Prediction
In a bullish scenario, Starknet (STRK) could leverage the reduced fee environment and the enhanced utility of its network post the 0.13.1 upgrade, potentially pushing towards $2.992 and eyeing the next resistance levels at $3.561 and $4.751. The increasing use of Starknet for gaming, bolstered by the $125.5 million budget for its Gaming Committee, could further fuel this upward trajectory.
On the flip side, in a bearish scenario, concerns over the token unlock schedules and market-wide uncertainties could see STRK retreating towards $1.802. If bearish sentiment prevails, it might even test its second support level at $1.181, though the solid fundamentals provided by StarkWare’s development expertise and the positive market response to the Dencun upgrade could provide a cushion against significant downturns.
Bottomline
In the cryptocurrency market, Arbitrum (ARB) and Starknet (STRK) have emerged as significant players, especially in the context of the Ethereum L2 ecosystem. As the L2 TVL soared to nearly $39 billion, both ARB and STRK demonstrated notable gains, underlining growing investor confidence. Arbitrum (ARB), with a substantial 41% market share in L2 scaling solutions, showed an impressive 8% rise, while Starknet (STRK), a smaller yet vital player, also saw a 1.5% increase. These shifts are about more than just the market gearing up for Ethereum's Dencun upgrade – they actually show how Arbitrum (ARB) and Starknet (STRK) can boost Ethereum's efficiency and scalability to make it run smoother and faster.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
