Presentation: Evaluating Profitability and Risks of Binance’s October 2024 Crypto ListingsOverview
In October 2024, Binance has listed several notable cryptocurrencies, each with potential for long-term profitability. We focus on EigenLayer (EIGEN), Pepe Unchained (PEPU), and Bone ShibaSwap (BONE), analyzing their utility, profitability, and risks.
1. EigenLayer (EIGEN)
EigenLayer is built on Ethereum, enhancing its security via a process called "restaking." It allows users to stake ETH in additional layers, boosting Ethereum’s security framework. As Ethereum grows, EigenLayer is expected to thrive, making it a strong long-term investment.
Risks: Its success is tied to Ethereum’s continued dominance, and it faces regulatory risks associated with ETH-based projects(ETHNews).
2. Pepe Unchained (PEPU)
A meme coin with staking rewards, PEPU offers scalability and low transaction fees. Although it benefits from community support, its long-term success depends on maintaining interest beyond the meme hype.
Risks: High volatility and sustainability concerns due to its meme-based nature(Binance)(Techopedia).
3. Bone ShibaSwap (BONE)
BONE is part of the Shiba Inu ecosystem and powers its Layer-2 solution, Shibarium. If Shibarium gains traction, BONE could see significant value growth, but it depends heavily on the broader ecosystem.
Risks: Competition from other Layer-2 solutions and reliance on Shiba Inu’s community(Binance).
Risk and Profitability Comparison
CryptocurrencyUtility RiskVolatilityLong-Term PotentialEigenLayer (EIGEN)MediumLowHighPepe Unchained (PEPU)HighHighMediumBone ShibaSwap (BONE)MediumMediumMedium
Conclusion
EigenLayer appears to have the strongest long-term potential due to its Ethereum utility, while BONE offers moderate growth within the Shiba Inu ecosystem. PEPU, though profitable short-term, carries high risks. Diversifying between utility-based and community-driven projects is recommended.
