Solana and Arbitrum traders diversify their portfolios with a new meme coin

Although Solana and Arbitrum have made headlines over the last month, their results have been very mixed. Both projects posted profits in early February, although they have since collapsed.

Instead of swing trading these altcoins, investors are now looking at a new meme coin whose pre-sale is ongoing.

Decision turns ethereum into volume derivatives

According to data from DefiLlamaArbitrum's weekly derivatives volume hit an all-time high of $18 billion.

This is an important milestone for Arbitrum investors and has led to an increase in the project's daily trading volume.

In total, this increase marked a 17% increase in derivatives volume and helped Arbitrum surpass ethereum, which had $9 billion in volume during the same week.

According to cryptocurrency experts, this shows the potential of Arbitrum and could be a sign that the project could dominate the DeFi market in the future.

However, even though its daily trading volume increased by 87.58% to $715 million, Arbitrum's price has dropped. Currently, data from CoinMarketCap shows that the price of Arbitrum is down 6.65% in the last 24 hours, leading Arbitrum to $1.87.

Solana can fall

After a strong bull run pushed Solana price to $118, the popular altcoin has faced a significant drop. Over the last week, the price of Solana plummeted by 11% and Solana fell by 6.7% in the last 24 hours.

According to experts, this drop is due to buyer exhaustion.

Even though crypto bulls attempted to push Solana past its $120 resistance, the project dropped to just $102. Now, as selling pressure increases, some analysts fear that Solana could fall below $100.

This could cause SOL to fall to $95, during which Solana trading activity could also decline.

Investors exploring KangaMoon

Kanga Luna Investors remain extremely optimistic despite recent bearish market trends.

The meme coin is distinguished from other projects by its hybrid social-fi P2E platform. It will allow users to participate in exciting P2E games, while also rewarding them for their social activity.

Unlike many meme coins that rely on market buzz, KangaMoon seeks to create a lively community of DeFi enthusiasts.

To achieve this goal, Kanga Luna will reward socially active players with KANG tokens. Additionally, investors who help promote KangaMoon will receive additional tokens during the KangaMoon pre-sale.

These rewards will be combined with challenges to provide users with a host of new earning opportunities.

KangaMoon is currently in stage 2 of its pre-sale and KANG tokens are selling for $0.0075. So far, there are more than 2,000 participants in the pre-sale.

With the P2E nft gaming market expected to grow 93% annually, KANG holders remain hopeful.

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