Shifting Strategies: Potential Ethereum Acquisition by SharpLink, and the Rivalry Between PUMP and Fartcoin: Determining the Winner
Solana tokens PENGU, FARTCOIN, and PUMP are gaining attention in the crypto space due to their low gas fees and fast transaction speeds offered by the Solana blockchain. These tokens, which operate as meme coins, are actively traded and have sizable market capitalizations, with strong community support and growing adoption. They are currently featured in popular prediction markets on Myriad Markets.
Current Market Standings
As of now, Fartcoin leads in market cap competition against PUMP, valued at approximately $1.4 billion. PENGU, associated with the Pudgy Penguins NFT ecosystem, has a market cap close to $2.5 billion and has recently experienced a significant price rally of about 300%. Pump, launched by Pump.fun, has a market cap around $1.02 billion but has lost 48% since its ICO.
Prediction Market Performance
In Myriad’s ongoing prediction market (since July 23), Fartcoin has a 63% chance of maintaining its lead over PUMP by mid-August, supported by Fartcoin’s relative price stability and increased trading volume. PENGU, on the other hand, is assigned a 59% probability of surpassing the $2.5 billion threshold by July 31, reflecting increased bullish sentiment compared to a week earlier.
However, PUMP faces challenges to regain ground against its rival, with its prediction market odds being less favorable given recent declines, including a 24% drop in the past 24 hours.
Upcoming Events
Details remain unclear about PUMP’s eventual airdrop, which could provide clarity on the token’s future. If an Ethereum purchase is made by SharpLink Gaming this week, it is expected to be announced on Tuesday, July 29.
Myriad Expansion
Myriad has expanded its prediction markets to the Ethereum layer-2 network, Linea, allowing users to make predictions about pop culture, crypto, and more. The market for PENGU will close four hours before July concludes in EST.
Recent Performance
PENGU is one of the best-performing crypto tokens in the last month, having risen nearly 300% according to CoinGecko. The PUMP token launch was one of the biggest on-chain events of the year.
Conclusion
These three Solana meme tokens are similar as speculative memecoins with growing market caps and active prediction market engagement on Myriad. PENGU is currently performing strongest with a bullish outlook, Fartcoin leads a direct market cap contest against PUMP, and PUMP faces challenges to regain ground against its rival.
- Solana's PENGU, FARTCOIN, and PUMP tokens are capturing attention in the crypto world due to their association with the Solana blockchain, offering low gas fees and fast transaction speeds.
- As of the current market standings, Fartcoin leads with a market cap of approximately $1.4 billion, surpassing PUMP's value, while PENGU, linked to the Pudgy Penguins NFT ecosystem, stands at around $2.5 billion after a 300% price rally.
- In Myriad Markets' prediction markets, Fartcoin has a 63% chance of maintaining its lead over PUMP by mid-August, while PENGU is predicted to surpass $2.5 billion with a 59% probability by July 31, reflecting increased bullish sentiment.
- However, PUMP's prediction market odds are less favorable due to recent declines, including a 24% drop in the past 24 hours, posing challenges for the token to regain ground against its rival.
- Upcoming events for PUMP include an expected airdrop and a potential Ethereum purchase announcement by SharpLink Gaming on July 29.
- Myriad Markets has expanded its prediction markets to the Ethereum layer-2 network, Linea, and the PENGU market is scheduled to close four hours before July concludes in EST.
- The PENGU token has been one of the best-performing crypto tokens in the last month, rising nearly 300%, while the PUMP token launch was one of the biggest on-chain events of the year. These tokens, operating in a decentralized manner, are associated with finance, technology, NFTs, and DApps, making them attractive investments for many.
