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The trending cryptocurrency tokens on Avalanche Chain today have all shown remarkable price increases in the last 24 hours, even though Avalanche recently encountered a significant outage lasting about four hours. The disruption was attributed to a software bug that halted block finalization.
However, following a swift investigation by developers, a software upgrade for Avalanche nodes was promptly released to tackle the issue. In the meantime, we’ve curated a list of four viable tokens in the avalanche ecosystems with promising fundamentals and market data.
Trending Cryptocurrency Tokens on Avalanche Chain
In addition, this article also tracks the performance of upcoming presales that investors should keep on their watchlist. Scotty the AI has raised over $600,000 in its presale, and the project is barely months into its presale. The overview of its progress is documented below.
1. Platypus Finance (PTP)
Platypus Finance Protocol is an innovative one-way Automated Market Maker (AMM) decentralized exchange (DEX) platform. It is specifically designed for trading stable cryptocurrencies on the Avalanche blockchain.
Moreover, Platypus Finance prioritizes censorship resistance, security, self-custody, and maximum capital efficiency. It achieves these objectives by focusing on the use of smart contracts.
Furthermore, traders have the option to choose a single-token provision. It involves acquiring a PTP token to mitigate impermanent loss for liquidity providers and reduce slippage risks.
In addition, Platypus Finance aims to foster the organic growth of its native token. Also, the token pioneers the concept of Asset-Liability Management (ALM) within decentralized finance (DeFi). It is achieved by aligning it with market demand and supply dynamics.
Staking PTP generates vePTP, a non-transferable voting escrow token designed to enhance rewards for token holders. Platypus maintains a price of $0.015501, with a 24-hour trading volume of $43,194 and a market capitalization of $218,566.
The sentiment remains bearish despite reaching an all-time high of $16.65 on January 16, 2022, and an all-time low of $0.012384 on February 23, 2024. It is indicated by the Fear & Greed Index registering at 74 (Greed). Platypus is actively traded on platforms like CoinEx and MEXC. It also boasts a trading volume of $43,240 recorded in the last 24 hours.
2. DegenX (DGNX)
DegenX (DGNX) is the governance token of the DegenX ecosystem, empowering and rewarding all participants within the Network. It trades at $ 0.198169, with a 24-hour trading volume of $ 26,915 and a market cap of $ 4.16M. It reflects a 2.39% decrease in the last 24 hours.
Meanwhile, the token’s journey reflects highs and lows, reaching its peak at $ 0.644138 on April 18, 2023. Its lowest point was recorded at $ 0.031772 on December 30, 2022.
Despite a bearish sentiment with a Fear & Greed Index of 72 (Greed), DegenX experienced remarkable growth. 2023 marked a 1,025.12% increase, while 2022 faced a -52.68% drop.
Furthermore, its Q1 performance shines with an average gain of 895.53%, while Q2 typically brings challenges, with a -38.22% loss. Moreover, DGNX holders wield significant influence, capable of proposing and voting on initiatives. They can also lock tokens via DGNX LockR or stake them alongside other tokens using the StakeX smart contract.
Exciting Partnership Announcement!📢
DEGENX and @SolidProof_io:
A Dynamic Alliance for Security and Excellence!
We're thrilled to share a monumental development in the journey of DEGENX! Since our inception, SolidProof has been our steadfast audit provider, consistently… pic.twitter.com/wbBeuXOvQA
— DEGENX 🔺️ DGNX (@DegenEcosystem) February 23, 2024
Currently deployed on the Avalanche C-chain, DegenX plans to migrate to other blockchains. This migration will occur without issuing new tokens, underscoring its commitment to innovation and scalability.
3. Snail Trail Token (SLIME)
Snail Trail introduces a novel concept to the gaming world with its NFT-based auto-racing game. Players engage in competitive races with their unique Snails to claim rewards. In addition, each Snail, belonging to one of five families, possesses distinct traits and racing preferences based on genetics.
Players strategize to optimize their Snails’ performance by understanding these characteristics and adapting to various racing track environments. The game’s reproduction system allows for the minting of additional Snails, expanding race participation opportunities.
Despite a bearish sentiment, indicated by a Fear & Greed Index of 72 (Greed), SLIME has seen a 7.57% increase in the last 24 hours. In addition, it reached its all-time high of $ 0.010431 on December 12, 2023, demonstrating its growth potential.
With a circulating supply of 9.54M SLIME out of a maximum supply of 300.00M SLIME, the token’s liquidity is supported by its market cap. The performance of Snail Trail over the years reveals its resilience and growth potential.
Week 3 is in the books and it looks like Snail Empire may have found a winning strategy to challenge Circus 👀
Only one more week to watch these two powerhouses battle it out for Tournament 9! ⚔️ pic.twitter.com/jk4BvmsB5E
— Snail Trail 🔺🐌 (@SnailTrailGame) February 23, 2024
In 2023, SLIME experienced a significant 243.68% increase in price, outperforming 53% of the top 100 crypto assets. Conversely, 2022 saw an 84.27% drop in price, reflecting market fluctuations.
However, the average yearly growth rate over the last three years stands at an impressive 79.70% per year, showcasing its long-term viability. Typically, Snail Trail performs best in Q4, with an average gain of 180.03%, while Q3 tends to be the weakest, with a -49.52% loss.
4. VaporNodes (VPND)
VaporNodes (VPND) offers a unique hybrid protocol combining Network as a Service (NaaS) and Data as a Service (DaaS). It provides users with exposure to multi-chain DeFi protocols and nodes. Meanwhile, VPND’s current price is $ 0.003022, with a 24-hour trading volume of $ 278.36. However, in the last 24 hours, it has experienced a decrease of -3.64%.
Despite its current bearish sentiment, indicated by a Fear & Greed Index of 72 (Greed), VaporNodes presents an opportunity for users to earn lifetime passive income through node participation.
Having reached its peak price of $ 0.111772 on January 22, 2022, VaporNodes has demonstrated significant potential for growth. However, it also experienced lows, with its lowest price at $ 0.001007 on June 10, 2023.
Meanwhile, VaporNodes performs best in Q1, with an average gain of 286.84%, while Q2 tends to be the weakest, with a -68.02% loss. Despite the -2.46% average yearly growth over the last four years, 2023 saw a promising 70.23% increase in VPND price, indicating potential for future growth.
VaporNodes aims to democratize DeFi by making it affordable to everyone, allowing users to create nodes starting from 1000 VPND. The protocol operates under a governance model where participants can propose and vote on decisions. Furthermore, users who engage with VaporNodes contribute to the ecosystem’s development while earning passive income through node participation.
What Might Be The Next Top Trending
The SCOTTY token has garnered attention in the crypto sphere, recently raising over $600,000 in its presale, indicating robust investor interest. What sets SCOTTY apart is its integration of advanced machine learning with token swapping and conversational assistants, offering various applications.
Meanwhile, with a multi-stage presale offering discounted rates, SCOTTY incentivizes early investment, fostering a supportive community. ScottyChat, an AI-powered conversational assistant, provides users with market insights and analysis. On the other hand, Scotty Swap offers an efficient spot exchange for token swapping.
🚨 $SCOTTY # 1 #memecoin W/utility of 2024
🎉 smart investors smashed out Stage 5 in 3 days 😳
8 days ahead of time.🚀stage 6 now live and on the move. Price will increase at stage 7
Stage 1 – 5 closed out very early.
👉BUY $SCOTTY presale at https://t.co/zRmy4g8hfW… pic.twitter.com/kASVshEQW1
— Scotty The Ai (@ScottyThe_Ai) February 23, 2024
With staking rewards already active and future developments on the horizon, SCOTTY demonstrates significant growth potential, positioning itself as an exciting AI crypto to watch in the evolving crypto landscape.
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