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Since the Avalanche token release in late February, AVAX has been forced into a sideways trend. However, the chance of an uptrend becomes more likely with the recent surge in the value of the top trending tokens in the Avalanche ecosystem. As of the time of writing, the AVAX token is showing clear signs of recovery, with over 5% gains in the last 24 hours.
Furthermore, Tokens in the Avalanche ecosystem have also recorded remarkable gains, with Lydia Finance, Vape token, and Snail Trail leading the way. Not only are they printing impressive numbers, but their price actions are also reflected in the overall performance of AVAX. Later in the post, we’ll share the details of the trends and performance of these trending cryptocurrencies.
Trending Cryptocurrency Tokens on Avalanche Chain
Before going into the details, today’s post also includes a special mention of the Sponge V2 token. The token, an improvement on the popular SPONGE memecoin, is gaining traction due to its remarkable performance in this bull run. The details of its market movement and its prospects are also contained below.
1. Lydia Finance (LYD)
Lydia Finance is an Automated Market Maker, Yield Farming, and Staking platform on Avalanche. It has shown impressive resilience and growth within the cryptocurrency market. Furthermore, Lydia Finance is currently trading at $0.000580 with a market capitalization of $46,027. This performance reflects a bullish sentiment, bolstered by a Fear & Greed Index reading of 81 and 30 green days last month.
While its all-time high of $0.187672 occurred on May 11, 2021, its lowest point of $0.000516 was recorded on June 19, 2022. Despite volatility, Lydia Finance has experienced a recent price increase of 91.50% in the last seven days. With this surge in value, the token outperforms the global cryptocurrency market and similar tokens within the Avalanche ecosystem.
Lydia Finance’s (LYD) trading volume has surged to $22,988.87 in the last 24 hours, indicating a substantial 475.00% increase from the previous day. This sharp rise in market activity suggests heightened interest and engagement with the LYD token.
LYD tokens are the platform’s native currency, allowing users to engage in staking, pooling, and other DeFi activities. Moreover, Lydia Finance boasts an audited platform and a dedicated team of experienced developers.
Active trading on decentralized exchanges, particularly on the Lydia Finance platform, underscores the token’s liquidity and market activity. As investors continue to explore opportunities in decentralized finance, Lydia Finance remains a promising option. The platform offers a range of utilities and opportunities for participation within the Avalanche ecosystem.
2. Vape token (VAPE)
VAPE serves as the governance and utility token for VaporDEX, our decentralized exchange on the Avalanche network. As VaporDEX expands and evolves, VAPE becomes increasingly integral to our DEX and ecosystem.
Holding VAPE provides access to participating in governance measures concerning VaporDEX and VAPE itself. In addition, it grants access to additional value experiences that require VAPE participation or benefit.
Furthermore, VAPE enables our community to benefit from the value experiences offered through our products, solutions, and services. With the VAPE token, the team is developing a token economy suited to continually adapting and evolving with our broader ecosystem. VAPE’s role aligns with the direction of ecosystem growth.
Meanwhile, earning VAPE through one of its primary markets serves as evidence and a celebration of contributing value to your peer community through various means. VAPE is not merely an incentive; it’s a reward. In addition, VAPE is tailored for those who add value through our thoughtfully designed products and value experiences.
Did you know you can stake $VPND to earn $VAPE emissions?
Did you know $VAPE is being emitted monthly, responsibly through, "EARN VAPE" on https://t.co/7iQAl2nSCo
VAPE total supply right now – 552,799.64 https://t.co/Lrpi1NjBms
— VaporDEX🔺 (@VaporDex) March 5, 2024
VAPE trades at $0.8695, having increased 6.28% in the last 24 hours and 1.79% over the past seven days. Although specific market cap data is unavailable, VAPE’s performance in the last seven days has fallen slightly below the global cryptocurrency market. However, it maintains activity on decentralized exchanges, primarily VaporDex.
The most active trading pair, VAPE/$FLD, contributes to VAPE’s liquidity and market engagement, emphasizing its ongoing significance in the evolving landscape of decentralized finance.
3. Snail Trail (SLIME)
Snail Trail (SLIME) is priced at $0.003655 today, with a 24-hour trading volume of $3,715.19. It marks a 1.66% price increase in the last 24 hours and a 1.35% increase in the past seven days. However, the circulating supply data for SLIME tokens has yet to be available today, limiting the insight into its market cap.
Snail Trail offers an innovative NFT-based auto-racing game where players compete with their snails to earn rewards. Each snail belongs to one of five families with unique traits and racing preferences. Understanding these characteristics allows players to develop strategies for improved performance and greater reward earnings.
The game’s reproduction system enables players to mint more snails and expand their racing opportunities. Snail Trail combines strategic thinking with the thrill of collecting NFTs, offering a fresh take on racing games.
Despite a 1.40% price increase in the last seven days, Snail Trail (SLIME) lags behind the global cryptocurrency market, which has seen a 10.10% increase. It also underperforms compared to similar Avalanche Ecosystem cryptocurrencies, which have risen by 5.80%.
We've got our first Formula Slime Leaderboard update posted in the Discord! 🎉
If you want to participate in winning bonus prizes, all you have to do is race in Competitive mode or Mega Race mode 🏁
Come join the fun! 🐌 pic.twitter.com/QbSJPVCsMz
— Snail Trail 🔺🐌 (@SnailTrailGame) March 4, 2024
Meanwhile, SLIME tokens are tradable on decentralized exchanges, with Trader Joe’s being the most popular platform. The most active trading pair, SLIME/WAVAX, recorded a trading volume of $3,714.75 in the last 24 hours.
Overall, Snail Trail presents an intriguing blend of NFT gaming and strategic gameplay, allowing players to engage in exciting races while exploring the world of decentralized finance.
What Might Be The Next Top Trending Crypto
Sponge V2 holders have much to celebrate as the token has surpassed the V1 market cap. At press time, SPONGE has a market cap of $139 million, and its price has increased by over 50% in the last 24 hours.
GM #SPONGERS! 🧽🧽🧽
Did someone say moon? 🚀
Trade $SPONGE on @dexscreener 👇https://t.co/mRRzvNqdpm#MemeCoin #Crypto #Altcoins #Bullish #100x pic.twitter.com/iVOCDTYMVz
— $SPONGE (@spongeoneth) March 8, 2024
What’s surprising is that the trends of SPONGE defy the overall recent performance of memecoins. Most coins in the category are currently experiencing a momentary dump. But SPONGE has pushed its ATH value to $0.003463, a cumulative 272% gain since its launch. At its current pace, SPONGE will likely make it to the top 100 crypts before the end of the next quarter.
Interestingly, SPONGE is likely to attain new ATH in this market cycle. The community has yet to execute many deflationary initiatives, including increased utility and burn strategy. With that, the bulls would find the momentum to push the asset’s price further.
Hence, investors who wish to capitalize on the trend should look closely at the emerging SPONGE performance, as the token currently shows immense potential. Ultimately, it might outperform many established memecoins in this bull market.
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