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Finding the top trending crypto coins on the Avalanche blockchain with prospects of recording substantial gains can be daunting. However, we’ll look at three of the most trending coins that have stood out among other projects.
The cryptocurrency market cap rose by 0.55% today, increasing the prices of several tokens on the Avalanche blockchain. Three tokens, Coq Inu, Shrapnel, and SHRAPNEL, were the standout performers today, with Coq Inu topping the charts. This article discusses the features, price performances, tokenomics, and recent developments that make them worthwhile investments.
Trending Cryptocurrency Tokens on Avalanche Chain Today
After the successful launch of Bitcoin Ordinals and inscription tokens (BRC-20), investor interest has shifted towards inscriptions on the Avalanche blockchain. These inscriptions are called ASC-20 tokens.
Furthermore, the number of inscriptions on the Avalanche blockchain has exceeded 100 million since its inception in June 2023. These positive developments have seen the Avalanche Chain rise to prominence, ranking it among the top blockchains in the crypto space.
1. Coq Inu (COQ)
Coq Inu (COQ) is a meme coin gaining traction in the digital currency market. The project operates on the Avalanche C-Chain with a total supply of 69 trillion COQ tokens.
COQ has experienced a remarkable surge. It witnessed a 31% increase in a single day and an astounding 60,000% surge since its launch. This rapid growth has positioned it as a notable asset in the meme coin space.
Besides, COQ introduced a unique tokenomics model with 69 trillion tokens and no distribution for the founders. The entire coin supply, along with 150 Avalanche (AVAX) for initial liquidity, was contributed to the project.
A distinguishing feature of Coq Inu is its renounced contract and burned liquidity. Moreover, these features are standard practices in cryptocurrency to ensure fairness and prevent manipulation.
48 hours left to participate in the #CoqArtInu Art Contest! 🐓🔺
1 BILLION $COQ up for grabs. Full details and contest rules in the medium below 👇https://t.co/XRt3IZ3BH4 https://t.co/cKLUOGqdMI
— Coq Inu 🐓 (@CoqInuAvax) January 20, 2024
Trading on the KuCoin Spot Market, COQ allows users to navigate changing market conditions. Its intentional lack of structure, absence of a development team or roadmap, and focus on fair distribution contribute to its appeal.
Nevertheless, the all-time high price of COQ is $0.000004219, with the current price down by 0.74% from its peak. In a commitment to fairness, COQ’s contract has been fully renounced, and liquidity has burned, fostering transparency and trust in the community.
2. SHRAPNEL (SHRAP)
SHRAPNEL is an immersive first-person extraction shooter where players act as a MEF (Mercenary Extraction Force) Operator. The game introduces a unique reputation system centered around Play, Creation, and Community.
Players can enhance their Reputation Score by excelling in these areas. They can unlock rewards such as new modding capabilities and in-game boosts. A higher Reputation Score increases visibility in the SHRAPNEL Marketplace and maps, offering more opportunities for rewards.
Furthermore, the SHRAP token is the core element driving the Shrapnel economy. Also, it functions as a utility and the primary currency of exchange on the platform. Issued as an ERC-20 token, it is set to be deployed on the Avalanche network shortly.
During the Token Genesis Event (TGE), a fixed total supply of 3 billion SHRAP tokens will be generated. However, no additional tradeable tokens are expected to be produced or minted after this initial creation.
✦ LOCATIONAL DAMAGE & HEALING ✦
Shrapnel uses a locational based damage system that gives the player different debuffs based on where they take damage. 🧵⤵️ pic.twitter.com/7E0OLg9Ith
— SHRAPNEL 🔺 (@playSHRAPNEL) January 21, 2024
Again, the SHRAP token is pivotal in Shrapnel’s ecosystem, enabling various transactions and interactions. Furthermore, as a utility token, it facilitates rewards and benefits for players who excel in gameplay, creativity, and community engagement. This includes unlocking new modding capabilities and in-game boosts based on a player’s overall Reputation Score.
The token’s deployment on Avalanche enhances its versatility and accessibility within the crypto space. This contributes to the dynamic and rewarding environment of the Shrapnel platform.
3. ThorFi (THOR)
ThorFi (THOR) operates as a dynamic ecosystem on the Avalanche blockchain, aiming to make decentralized finance (DeFi) accessible to all. The platform offers a range of gamified utilities to simplify diversification into DeFi. In addition, these utilities include staking, The Drop (a Web3 Smart-Contract-based raffle-hybrid game), and a marketplace for ThorFi NFTs.
Furthermore, ThorFi leverages the AVAX token for user compensation while working on the Avalanche blockchain. Also, the ecosystem’s utilities serve diverse purposes, enhancing user engagement.
Consequently, the Drop, a raffle-hybrid game, randomly selects winners for jackpots and other prizes. The decentralized betting suite allows users to participate in games using the $THOR token. In addition, ThorFi’s marketplace facilitates the acquisition and transfer of ThorFi NFTs, including nodes contributing to the Web3 infrastructure.
Potential use cases for ThorFi include:
- Staking AVAX tokens for compensation.
- Participating in The Drop for a chance to win prizes.
- Engaging in decentralized games with the $THOR token.
- Exploring the marketplace for ThorFi NFT offerings.
The Origin Nodes, ThorFi’s legacy product, are blockchain nodes contributing to the Web3 infrastructure. Also, these nodes are now capped and can only be acquired or transferred to secondary markets.
We knew Top 2 was programmed in…
But not until #Eclipse was live on mainnet!
Our community is out here shattering records 🥈
You guys are killing it ❤️ https://t.co/QsQUd5WZVh
— ThorFi (@ThorFiOfficial) January 21, 2024
On the other hand, ThorFi (THOR) has seen a trading volume of $263,668 in the last 24 hours. This growth indicates a 42.00% increase from the previous day and signals recent market activity. Above all, ThorFi strives to provide a user-friendly gateway to DeFi, offering diverse utilities and engaging experiences within its dynamic ecosystem.
4. Wall Street Memes (WSM)
Wall Street Memes (WSM) is a crypto token associated with the prominent social media presence of the Wall Street Memes community. It boasts a combined following of over a million traders. The introduction of the $WSM token marked a significant move for the project. After a successful presale, it achieved a remarkable market cap of $50 million.
In addition to the token launch, Wall Street Memes has ventured into gaming by introducing the Wall Street Memes Casino on Telegram. Also, the casino offers players anonymous and secure gaming, a 200% welcome bonus up to $25,000, and a 10% token buyback. Deposits in $WSM come with the added incentive of earning 200 free spins.
Hey $WSM Fam, we’ve updated our token page to include brand new buy and staking widgets 🔥
You’ll now find them right at the top of the page here: https://t.co/sJXZHyuY0T pic.twitter.com/SRUv95pPrD
— Wall Street Memes (@wallstmemes) January 19, 2024
Furthermore, Wall Street Memes has leveraged its robust community and demonstrated success in the NFT market. This has positioned $WSM as a cryptocurrency worth monitoring in the current market and potential future bull runs.
After launch, the $WSM presale raised over $25 million and experienced a 275% increase. This uptrend makes it the fourth-largest meme coin by volume. Emerging from the Wall St Bulls legacy NFT project, $WSM has expanded to multiple exchanges, with potential listings on platforms like Coinbase and Binance.
The token incorporates a staking mechanism that allows holders to earn passive rewards. Indeed, over 400 million tokens, constituting 20% of the total supply, are locked in the staking pool. This offers a current APY of 40%.
Furthermore, Wall Street Memes have built a solid digital footprint. It maintains a positive rapport with its community, with notable engagements from figures like Elon Musk on their Twitter account. Moreover, the project’s adaptability and alignment with evolving crypto trends contribute to its significant presence in the crypto space.
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