The Infinaeon presale has continued to gather pace even as several of the most notable altcoins have seen their prices nosedive. Most notably, Toncoin (TON) suffered double-digit losses following the arrest of Telegram CEO Pavel Valeryevich Durov. The popular messaging app is closely linked to TON, which is why the market reacted brutally to the news. Other leading cryptos, such as XRP and ETH, have also struggled.
Let’s take a look at how Infinaeon appears to be bucking the bearish market sentiment with its presale through its unique layer-2 scaling solution. But before covering Infinaeon, it’s worth taking a look at TON, XRP, and ETH price movements from the past week.
TON Coin Crashes as Telegram CEO Detained
Toncoin (TON), the native token on the Toncoin blockchain, suffered a double-digit drop and has struggled to recover since Pavel Durov, Telegram’s CEO, was arrested by French authorities. Durov had overseen several changes at Telegram that further integrated TON with the messaging application.
TON, originally developed by Telegram’s founders, is a layer-1 blockchain that boasts high scalability and throughput. The project aims to provide a user-friendly platform for decentralized applications and smart contracts, with a particular focus on integrating blockchain technology with Telegram.
The arrest of Durov has injected a degree of uncertainty into the TON ecosystem. This fear has translated into significant selling pressure, driving the price of TON down by over 20% in the past week. As a result, the market capitalization of TON has plummeted from $17 billion to around $13 billion.
XRP and ETH Also Struggle
Despite there being no majorly negative news stories around XRP and ETH, both have continued to struggle in what has been a lackluster month of trading.
XRP, a cryptocurrency associated with Ripple Labs, primarily aims to facilitate faster and cheaper cross-border payments. It has garnered attention from financial institutions due to its potential to improve traditional settlement systems. However, XRP’s price has been hampered by ongoing regulatory uncertainties and legal challenges faced by Ripple. While it has managed a modest 10% return year-on-year, it’s down around 3% in the past week. Moreover, it has failed to get anywhere near its all-time high of $3.40.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is a decentralized platform that enables the creation of smart contracts and decentralized applications. Ethereum has faced challenges due to high gas fees and network congestion. While it has seen a 16% gain in the past month, it has struggled to keep up with Bitcoin’s performance.
In contrast to the broader market struggles, Infinaeon is bucking the trend. The layer-2 scaling solution’s unique value proposition and innovative technology have ignited interest from traders.
Infinaeon’s Bold Approach to Layer-2 Scaling Takes Market By Storm
Infinaeon’s presale has not been hampered by the broader market downturn, even as its layer-2 competitors like Arbitrum and Optimism have struggled. Arguably, the project has been able to keep new traders flowing into the presale through its unique value propositions that go well beyond basic layer-2 solutions.
Infinaeon aims to redefine our approach to ETH gas fees. Instead of viewing them as a mere operational cost, the project transforms them into a catalyst for value creation. A portion of every gas fee is utilized to buy and burn Infinaeon’s native token, decreasing its supply and creating scarcity. This deflationary mechanism inherently supports the token’s value, ensuring that each transaction on the network contributes to the appreciation of existing tokens.
Furthermore, the Infinaeon team has introduced the concept of Infinaeon Plus, a wrapped ETH token that could appreciate with every transaction. This creates a positive feedback loop where increased activity on the platform directly translates into increased value for Infinaeon holders.
The project’s commitment to a robust ecosystem is further exemplified by its auto-compounding staking mechanism. Unlike many projects that rely on inflationary rewards or token emissions, Infinaeon’s staking rewards are funded by revenue generated from the platform. This creates a system where stakers directly benefit from the network’s growth.
Final Thoughts on Infinaeon and the Future of Layer-2 Solutions
It can be tough to find positives in a market that has been turning red day after day. Even the megacap cryptos like ETH, XRP, and TON have been posting consecutive red candles. Infinaeon and its presale are providing us with something to be optimistic about. The team has successfully displayed the power of the layer-2 solution’s technology, and now the market is taking notice. Traders looking to get in at the lowest possible price on what many think could be the leading layer-2 solution one day are joining the presale and voicing their support in the increasingly busy Infinaeon social media channels.
Join The Infinaeon Presale Now
Presale: https://presale.infinaeon.com/
Telegram: https://t.me/Infinaeon/
Discord: https://discord.com/invite/WSy65uAYfd
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