Developer Explains Why Meme Coins Are Shifting Base From Ethereum

Foobar, a code builder, criticizes Ethereum, accusing its developers of neglecting crucial improvements. Because of this shift, projects, including meme coin issuers, are adopting alternative protocols, including layer-2s and modern blockchains like Solana, which boast more features, mostly higher scalability.  Ethereum Developers Are Blocking Mainnet Updates Taking to X, the developer claims that there have been no major mainnet improvements chiefly because such upgrades are being blocked by core and client developers. Specifically, Foobar cites the long-standing delays for features like Trie State Storage Optimizations (TSTORE) and Externally Owned Account (EOA) batch transactions. The developer also noted the lack of block gas limit increase since 2021.  Related Reading: Bitcoin ETF Surges: Last 4 Days Inflows Outpace Initial Weeks The developer adds that the absence of main net updates and opcode improvements leading to the implementation of these proposals could be why decentralized apps (apps) launching on Ethereum are “bleeding tremendous value” due to high fees and limitations. TSTORE and EOA batch transactions are proposals that, if they see the light of day, could see Ethereum scale better. Specifically, proposers of TSTORE forwarded a solution to address storage bloat to improve performance. On the other hand, EOA will enable the bundling of transactions from the same sender, reducing gas fees.  Meanwhile, Etherscan data shows that the block gas limit has been capped at around 30 million since August 9, 2021. Subsequently, Ethereum throughput remains low, and gas fees are higher, considering the high on-chain activity. The failure of clients to integrate these proposals, the developer continues, makes Ethereum unusable for “any interesting app requiring moderate complexity.” Subsequently, many projects are migrating to layer-2s like Base, Arbitrum, Optimism, or entirely different blockchains like Solana and Avalanche due to limitations on the Ethereum mainnet. Meme Coins Find Home In Solana And Others As of mid-February 2024, more meme coin developers, reading from the popularity of emerging projects, are deploying from high throughput and low-fee platforms like Solana, Avalanche, and even Base. Meme coins like Bonk, Honk, and even the successful Bald on Base are examples. Meanwhile, meme coin projects on Ethereum, like Pepe Coin (PEPE), appear to be losing market share as Shiba Inu, for example, launched Shibarium to offer its users lower transaction fees. Related Reading: Stacks (STX) Stuns: Price Soars Over 60% In Epic Recovery As TVL Explodes Foobar thinks the lack of improvements on the Ethereum mainnet is why Uniswap v4 has yet to launch. The new iteration of Uniswap, a popular decentralized exchange (DEX) powering Ethereum token swapping, is yet to release its latest version. Based on existing documentation, v4 will include new features and functionalities, including Hooks. Supporters claim this tool will make the DEX more flexible, drawing more users once it goes live.  Feature image from Shutterstock, chart from TradingView

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Uniswap V4 Catalyst: UNI Token Primed For Growth As New Chain Launch Loom

Uniswap, one of the worlds largest decentralized exchanges (DEX), is poised for significant growth with the upcoming launch of its V4 upgrade. This anticipated update will introduce custom Automated Market Maker (AMM) functionality directly on top of Uniswap, eliminating the need for separate AMM designs. In addition, Uniswaps governance token, UNI, has seen notable growth, [...]

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Uniswap v4: Transforming DeFi with Custom Hooks and Efficiency Upgrades

In an exciting and consequential revelation, Uniswap has announced its vision for v4, promising ground-breaking changes that could redefine the

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Uniswap releases version 4 code, allowing for new types of liquidity pools

The new version features “hooks” that will allow for more customized options, but it will not be implemented until more feedback is obtained from the community.

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AAVE Faces Major Price Drop As TD Sequential Signals Sell Details

The Aave (AAVE) market suffered significant losses in the past week as price declined by 17.07% according to data from CoinMarketCap. While the DeFi token has shown some stability in the last 24 hours, certain market indicators suggest the bearish storm may be far from over. Related Reading: DeFi Exploits Plunge 40% In 2024, But Centralized Exchange Losses Soar Report AAVE Could Crash By 30% If Signal Holds  In a recent post on social media platform X, crypto analyst Ali Martinez shared a hawkish prediction on the AAVE market. According to Martinez, the TD Sequential indicator has presented a sell signal on the AAVE weekly chart, suggesting a major decline on the horizon. In trading, the TD Sequential developed by Tom DeMark is used to identify potential turning points in price trades. It basically indicates when an asset’s price is overextended in a particular direction and due for a reversal. Based on Martinez’s forecast, if the TD Sequential sell signal holds, AAVE could undergo a significant correction falling to around $264. However, in the presence of overwhelming selling pressure, the L2 token could be headed for $203, indicating a possible 29.5% decline from AAVE’s current price.   Interestingly, this bearish prediction is backed by other indicators. Firstly, Relative Strength Index indicator has a value of 62.57 indicating that AAVE is still far from the oversold zone and may experience further decline in the coming weeks. Furthermore, the assets 100-day simple average is also far below the current price which can be interpreted as another bearish signal. Clearly, there’s much need to apply caution in engaging the present market. At press time, AAVE trades at $290.04 after a slight 2.48% gain in the last 24 hours. However, its daily trading volume has dipped by 48.99% which may potentially indicate that selling pressure is beginning to ease up. Related Reading: Altcoins Surge As Crypto Market Kicks Off 2025 On A High Note Aave Set To Launch V4  Despite the ongoing price struggle, the Aave protocol continues to record positive development. Most recently, NewsBTC reported that Aave registered $35 billion in total net deposits, representing an all-time high value since 2021. In addition to this, the DeFi protocol is preparing to launch its V4 network upgrade that is expected to introduce advanced risk tools and unified liquidity among other benefits. According to data from DeFiilama, AAVE continues to rank as the second largest DeFi protocol with a Total Value Locked (TVL) of $20.4 billion.  The decentralized lending platform falls only behind liquid staking protocol Lido Finance which boasts of a TVL of $31.60 billion. Featured image from iStock, Chart from Tradingview

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