The Ethereum (ETH) price has recently seen a significant drop in value amid a broader decline in the cryptocurrency market. Investors are concerned about whether this downtrend will continue.$ETH

One of the biggest reasons behind Ethereum’s decline could be the SEC’s decisions. The U.S. Securities and Exchange Commission (SEC) has postponed the deadline for making a decision on crypto asset management firm Hashdex’s exchange-traded fund that will directly hold spot Bitcoin and Ethereum. According to a filing published on Friday, the SEC has chosen to delay the approval, denial, or initiation of action until September 30, 2024.

This decision is reported to have been effective in Ethereum falling below $2,600. With the depreciation of ETH, whales have started to turn to alternative cryptocurrencies. One of these is an Ethereum meme coin known as Pepe Unchained (PEPU). Pepe Unchained aims to increase blockchain efficiency and transaction capacity using Layer 2 technology and position itself as a major cryptocurrency in the process.

Pepe Unchained token purchases have been a great success with the fund reaching $8.2 million. In addition, this project offers staking and provides generous rewards and low transaction fees with an annualized return rate (APY) of over 230%. With the use of Layer 2 technology, low transaction costs and high staking rewards, PEPU has promising potential for price growth.$PEPE

PEPU stands out from other tokens in the Ethereum ecosystem by running on a private blockchain. Despite the upgrade to Ethereum 2.0, the network is still slow and transaction fees are higher than other advanced blockchains. Pepe Unchained aims to solve these problems.

Additionally, Pepe Unchained’s Layer 2 chain forms an ecosystem along with a dedicated blockchain explorer for new tokens. The impressive amount of funds raised since the start of the presale shows the interest of investors in this project.

The PEPU token is currently available for purchase at just $0.0090178 and its price is expected to increase gradually. Therefore, investors are advised to take part in the pre-sale before the price increase.

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I EXPLAIN IN DETAILED.

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