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Increasing activities on the polygon chain contributed to the dramatic increase in the price of assets. Despite the recent migration to POL, the assets are one of the tokens to watch this bull run. More importantly, assets in the ecosystems are outperforming market trends as Metal, Algebra, and Argoncoin rank as some of the top trending cryptos on the polygon chain.
Trending Cryptocurrency Tokens on Avalanche Chain
Also, on the polygon chain, Sponge V2 marks its territory as the token of interest following its recent migration from V1. The exceptional performance and the promises of the deflationary initiative sparked investors’ interest in the asset as many flocked to stake their tokens ahead of the anticipated listings. The details of its latest trends are covered below, along with the performance of other trending tokens on the Polygon chain.
1. Algebra (ALGB)
Algebra is a recently launched liquidity solution projected to become an alternative to the Uniswap V4. It claims that rather than being operated by Uniswap, it provides an innovative modular engine. In its claims, it splits the monolithic DEX setup into two components: the Core Codebase and Plugins.
Market data show the project is gradually amassing traction with several exchanges integrating its protocol. Some of the known platforms using the Algebra protocol include QuickSwap, ZyberSwap, Thena, Camelot, StellaSwap, SpiritSwap, Magma, eZKalibur, SynthSwap, Lynex, SwapBased, Hercules, Swapsicle, Swapr, etc.
In the last 24 hours, the platform has recorded $180 million in transaction volume, according to data obtained from its website. The value also indicates an increase of 5% compared to what was recorded previously—also, the transcription fees in the last 24 hours amount to $190K.
Green is our color! 💚
🟩 Up to $183M in TVL
💹 Over $150M in daily trading volume & counting
💵 $151K+ generated in fees on Algebra-powered DEXes in total
🥬 An $ALGB buyback of $8.19K for this weekAnd that's just the beginning of the day. Stay updated with our stats at… pic.twitter.com/CyOAQW1pEn
— Algebra DEX Engine V4 (@CryptoAlgebra) February 19, 2024
Despite the reported activity increase on the protocol, the native token, ALGB, performs negatively. The price of ALGB has been down by over 5% in the last 24 hours, and the trading volume has declined by 50%. Even though the platform has initiated buyback moves to strengthen the asset’s value further, the value of AGC continues to decline dramatically.
2. Argocoin (AGC)
Polygon chain is home to some of the most advanced dApps in the crypto ecosystem. Argocoin, for example, offers investors a stake in its AI project through the AGC token. As the interest in Decentralized Physical Infrastructure increases, many projects now aim to offer crypto investors the opportunity to hedge their bet on the sector’s future. The project is the brainchild of the Develop AI team.
The team wishes to redefine how people interact with artificial intelligence. It focuses on helping people develop a sense of ownership in the growing AI wave. Truthfully, artificial intelligence is fast emerging as a trend to watch, and many new Crytpo projects are leveraging the trend to create novel projects.
Team Expansion // #2 of #10$AGC is a fair launch project.
We are building a strong and loyal community, and early on we saw individuals passionate about decentralized artificial intelligence.
One of those individuals who stood out was Project W // @fitforcrypto_$AGC is… pic.twitter.com/gnHWMxnBWm
— Devolved AI (@devolvedai) February 13, 2024
Today, AGC ranks high on the list of trending projects on the Polygon chain. Its trending status had little effect on its performance, as it recorded a slight price decline of about 2%. However, there are signals of growing interest in the asset as the number of holders has climbed by about 1% in the last 24 hours.
As of the time of writing, Argocoin has completed over 84,000 transactions, a significant feat for a relatively new cryptocurrency. Also, its trading volume in the period hinges closer to the $500,000 mark. The asset’s future performance is still being determined as the current data offers little guidance.
3. Bombcrypto Coin (BOMB)
Bombcrytpo continues its push for more recognition despite being a relatively new project. The token recorded a significant price surge today, which may have contributed to its trending status on the Polygon chain.
In the last 24 hours, BOMB saw a price increase of over 70% while its trading volume remained relatively the same. The reason for the sudden surge in price is unaccounted for because it lacks indications of any deviation in its market data.
However, Bombcrypto recently received recognition for the Bitget Wallet, which may have restored investors’ confidence in the asset. Sadly, its 11400+ holders may need a lot of patience as the crypto has lost over 80% of its value until today’s reversal.
We are on Spotlight of Bitget Wallet 💪💪💪 https://t.co/sDDeRA9YTy
— Bomb Crypto (@BombCryptoGame) February 1, 2024
Again, there are no clear indications that BOMB might maintain its uptrend as bear pressure will soon start trickling in, as indicated by its moving averages.
4. Metal (METAL)
Metal, also known as the BADMAN robot, suddenly recorded a price surge in the early hours of today following its recent listing on Steam. The feat may have sparked an increase in demand for the platform.
METAL is the native cryptocurrency of the gaming project BADMAN robots. The project promotes a team-based shooting gaming experience and taps into the growing Gamefi trend, projected to reach multi-billion dollars this quarter. Already, we’ve seen growth in the value of assets like AVAX, which are printing massive gains due to the trend.
Another milestone achieved! Now we're also featured on @Steam
Add our game to your wishlist, the first beta test is planned to take place there. 🔥https://t.co/FGeyWFdQXU pic.twitter.com/ZsZB2Izcj7
— BADMAD ROBOTS (@badmadrobots) February 19, 2024
Today, METAL recorded over 6% pump in price after it appeared on the list of the trending cryptos on the Polygon chain. However, its trading volume experienced a decline of over 20% in the same period. It boasts about 4,300+ holders, according to the information on the polygon contract scanner.
Nevertheless, it is unlikely to maintain its place on the top trending list due to its past performance. The asset has a history of sharp price decline, which has forced the value of the asset to fall significantly below its listing price. Investors might expect the token to face intense pressure from the bears as the price increases.
What Might Be The Next Top Trending Crypto
Sponge V2 put up an impressive trend upon its listing on the Polygon chain, reaching as high as 70 % of its gains on some days. Its growing popularity stems from the track record of its V1, which did over $100 million market cap at its ATH.
With its current V2 trends, it is hard to imagine its prospects when the deflationary initiatives and utility of the V2 go into effect. However, the staking feature is already live, allowing SPONGE holders to earn as much as 90% APY. The community has staked over $ 10.19 million at press time. SPONGE currently trades for $0.00004589, with a market cap of $1.09 million.
Furthermore, the community recently concluded the migration from V1 to V2. Thus, all unstaked V1 tokens would be restored to holders as planned. Investors who missed out on the discounted price still have a chance to get in now that it is early in the market.
As the deflationary initiatives take effect and the token gets listed on more exchanges, the asset’s price is bound to increase dramatically. Moreover, the utility feature integrated into the V2 will ensure that the token holds long-term value.
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