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Since adopting Bitcoin as part of its financial strategy in April 2024, Japanese firm Metaplanet has experienced a significant stock surge of 443.2%, far surpassing the performance of other major assets. This sharp increase is largely credited to the company’s bold move to embrace cryptocurrency, which has strengthened investor confidence and increased demand for its stock.
Additionally, a crypto analyst has projected that Cardano’s native token, ADA, could rise to $0.50, adding to the market’s growing optimism. Meanwhile, tokens within specific blockchains have also witnessed rallies. This article curates the trending cryptocurrency tokens on Avalanche Chain today.
Trending Cryptocurrency Tokens on Avalanche Chain Today
LayerZero is a cutting-edge interoperability protocol that links more than 50 blockchains. Spell Token (SPELL) is currently trading at $0.000214, with a market capitalization of $324.71K. The PHARAOH (PHAR) token is valued at $46.255, holding a market cap of $847.86K.
Pepe Unchained (PEPU) has gained attention in the crypto community due to its successful presale and future development plans. Additionally, PayPal has expanded its services, enabling merchants to buy and sell cryptocurrencies.
1. LayerZero (ZRO)
LayerZero is an innovative interoperability protocol connecting over 50 blockchains. The network empowers developers to build seamless omnichain applications, tokens, and experiences. The protocol operates through immutable on-chain endpoints, a configurable security stack, and a permissionless set of Executors. This framework enables the censorship-resistant transfer of messages between different blockchain networks, providing a more connected and decentralized ecosystem.
As of press time, LayerZero trades at $4.704, with a market capitalization of $5.01 million. Over the last 24 hours, its trading volume reached $1.01K, showing an 18.18% increase in activity. The circulating supply is currently at 1.03 million ZRO coins, representing 100% of its total supply. Furthermore, the platform has processed a significant 121.74K transactions, and its volatility index is 0.3713. Although the market liquidity remains modest at $2.7K, the project shows signs of resilience.
Regarding price predictions, LayerZero is expected to experience steady growth soon. By September 30, 2024, the ZRO price may climb to $5.79, marking a 20.59% increase. Forecasts for the following week suggest the token could trade within the $5.79 to $7.01 range, with the upper price target indicating a 21.13% rise by October 7, 2024.
In conclusion, while the protocol is still evolving, LayerZero demonstrates strong potential for growth. Its bullish market outlook is supported by increasing activity and positive technical indicators. However, market fluctuations could still impact its trajectory.
2. Spell Token (SPELL)
Spell Token (SPELL) trades at $0.000214, with a market capitalization of $324.71K. Over the past 24 hours, SPELL has experienced a 51.94% increase in trading volume, reaching $834.78. The circulating supply stands at 1.51 billion SPELL coins, which fully matches the maximum supply available.
SPELL’s market indicators show a moderate level of activity. The token has a market cap of $324.71K and liquidity of $9.2K, with 26.45K holders. Over the last 30 days, SPELL has had 17 green days, reflecting some consistency in price gains. Currently, SPELL is trading 6.25% above its 200-day Simple Moving Average (SMA) of $0.000553, which can be a positive signal for future performance.
Regarding recent trading activity, SPELL recorded nine transactions within 24 hours. Five were buy orders, amounting to $804.88, while four were sell orders, totaling $29.91. The token’s price during these trades ranged between $0.00014 and $0.00021, with liquidity appearing moderate about its market capitalization.
. If it reaches the upper price target, this would result in a significant increase of 368.72%.
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Spell Token has demonstrated positive performance over the past year, with a 16% price rise. Its current price, positioned above the 200-day SMA, is a bullish indicator, though the token remains somewhat volatile. With moderate liquidity and market cap, the price predictions show potential for further growth. However, investors should remain aware of market risks and fluctuations when considering future investments in SPELL.
3. PHARAOH (PHAR)
The PHARAOH (PHAR) token is currently priced at $46.255 USD and has a market capitalization of $847.86K. Additionally, its 24-hour trading volume is $87.54K, reflecting an 18.14% increase over the past day. Moreover, the circulating supply is 18.33K PHAR coins, representing 16.27% of the total supply of 112.62K PHAR.
In terms of liquidity, the market holds $621.9K, and the token has a total market cap of $4.98M. Furthermore, the number of holders is 5.1K, and 114.75K transactions have been completed so far. In addition, the coin has a volatility rate of 0.1407, indicating moderate price fluctuations.
Looking at recent activity, PHARAOH has shown a 13.06% increase over the last 24 hours. Notably, it has experienced significant weekly growth at 85.63%. Over the past 24 hours, 132 transactions were processed, with 51 buys amounting to $52,710.53 and 81 sell orders totaling $34,834.85.
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PHARAOH has gained significant traction, with 5.1K holders and over 114.75K total transactions. The token’s liquidity pool consists of 10.93K WAVAX and 6.93K PHAR, representing 6.15% of the total supply pooled. Notably, PHARAOH’s DEXTscore, which assesses project reliability, is strong, with high marks across the board.
The Pharaoh Exchange platform has also surpassed $20M in Total Value Locked (TVL), with over $1.15 billion in total trading volume and 581,545 total trades executed by 50,470 traders. This growing activity suggests increasing confidence in the platform.
What Might Be The Next Top Trending Crypto?
Pepe Unchained (PEPU) has recently garnered attention in the crypto space thanks to its presale success and plans for future development. The project has raised $15.4 million so far, making it a standout among early-stage cryptocurrencies. With its upcoming Layer-2 blockchain specifically designed for meme coins, PEPU could see further growth, particularly with its goal of offering a network 100 times faster than Ethereum.
One of the key features of the Pepe Unchained project is the introduction of tools like a block explorer and Ethereum bridging, which could make the platform attractive to meme coin traders and creators. The price of PEPU tokens currently sits at $0.00985, with expectations of further increases as the presale progresses.
The project has allocated 40% of its total token supply to presale participants, while 10% is reserved for marketing efforts. Additionally, 7.5% of the supply is set aside for exchange liquidity when PEPU is listed on decentralized exchanges (DEXs).
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A major draw for investors is PEPU’s double staking protocol, which promises an estimated annual return of 137%. This staking option has already attracted over 1.16 billion PEPU tokens from investors. The project is also launching a developer incentive program, “Frens with Benefits,” which aims to attract blockchain developers to its Layer-2 network. Grants under this program, managed by the “Pepe Council,” are expected to start in Q4 2024.
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