The trend on the Avalanche chain remains upbeat despite the impending token unlocks. The token’s price responds smoothly to the recent market trends, with over 10% gains in the last seven days. More importantly, some of the assets in its ecosystem have shown impressive price actions that put them on the list of trending cryptos on the Avalanche chain today.
Similarly, the rise of the GameFi sector accounts for most of the recent gains recorded by Avax and the assets in its network. Interestingly, the growing impact of the GameFi trend is not localized to the Avalanche network alone. Crypto projects with driven communities and a sound economy have the potential to attract substantial inflow. Hence, we’ll explore the potential of the newly launched Sponge V2 project and its game utility offer.
EVO sits near the top of today’s trending cryptos on the Avalanche chain. The bulk of its success may be traced to the growing activities in its EvoVerse. In the last 24 hours, EVO recorded over 20%, and the trading volume rose by nearly 50%.
Even though the project has had its share of price decline, it swung into a recovery in the last quarter of the previous year, which saw its price pumped by nearly 500%. Generally, GameFi saw a massive increase in traders’ interest in the said quarter, making it challenging to identify the primary source of the sudden boost in the price of EVO.
— EvoVerses 🔺🕹 (@EvoVerses) February 11, 2024
Notwithstanding, it had a spillover in trend as it currently battles its resistance at the $0.0029 range. With its current trend, EVO holders and traders may witness sustained activities for most of the new week.
Other exciting data include its growing number of holders, already approaching 1.4K. It also recorded an increase in its market cap, valued at $969k at the time of writing, and its relatively high liquidity indicates the growth potential.
Payday is described as the first Hold-2-Earn token on the Avalanche chain. While it appears natural to the crypto industry, it claims it brings a unique twist to its offering. It claims users earn AVAX for holding the PAYDAY token, and the earnings are automatically sent to the earner’s wallets.
There is no clear-cut explanation of how its income program works. All that is known is that it charges 8% tax and claims that 6% of the tax goes back to its community of holders. Interestingly, PAYDAY has a growing community of enthusiasts who have pushed it to the top of the trending cryptos today.
At the time of writing, it has over 500 holders, and its market cap is valued at $200k. Sadly, PAYDAY provides a scant market, making it difficult to offer specific information about its performance and the prospect of its future.
🔺 #NFT Minting Is Now Live! 🔺
For now you can mint any amount of NFTs as youd like and have them ready for when Staking goes live!
With Every #Mint:
— Payday On Avax 🔺 Buy $PAYDAY Earn $AVAX 🔺 (@PaydayOnAvax) February 11, 2024
Notwithstanding, it earned its spot on the trending list on Avalanche today based on the network’s recently launched staking, buyback, and burn initiative.
Any Inu had a quick run earlier today, with its price recording over 15% increase and trading volume surging by earning 600%. The new crypto, which capitalizes on the memecoin wave across all chains, is on its path to more gains as the team makes impressive innovative moves.
Generally, Any Inu operates like every other meme crypto project, meaning that the force of supply and demand determines the token’s value. Hence, the market can expect to see the value of the crypto rise with its increasing visibility. Currently, AI has a $165.29K market cap and 306 holders.
Although the website claims the project boasts a sizable community, its market data says otherwise. There are no clear signals about the project’s future, but its recent performance indicates its value has increased by nearly 250% since its launch.
One small step for man, one giant leap for a small multichain dog… pic.twitter.com/4AS1nbiBVg
— Any Inu (@AnyInuCoin) February 11, 2024
One of the propellers of Any Inu’s success might be its multichain feature. Many crypto projects today, particularly memoirs, are leveraging the growing influence of other chains to drag more inflow into their network.
Also, AI leverages the multichain narrative to boost its visibility in the market. Its official Twitter handle hints that the crypto already has a presence across 16+ chains. Above all, investors can add the crypto to their watchlist to see how the trend unfolds.
Regarding GameFi, Domi might become one of the top-ranking projects to watch, particularly on the Avalanche chain. The project is quickly becoming a sensation, with over 52 thousand followers on its official Twitter handle. Besides the project’s growing influence, its native token also makes waves.
However, before its debut on the avalanche chain, the token has battled with a price decline that’s seen over 50% of its value drained in the space of 2 years. Nonetheless, its trend on the new chain appears upbeat, with over 15% increase in the last 24 hours and a trading volume of $150k. DOMI’s market cap also crossed $1.2 million recently, which indicates that there might be growing interest in the asset.
Furthermore, the token has also increased the number of holders. Its Snowtrace data reveals about 2997 holders at the time of writing. The number is on the rise as the popularity of crypto continues to grow.
Will DOMI remain one of the top trending cryptocurrencies on the Avalanche chain? The data from its chart paints a gloomy picture of the token. However, the improving sentiment across the crypto industry might continue to push the value of the crypto for the short term. On the other hand, without exception performance from its RPG game, the long-term performance of the token is not guaranteed.
Following the launch of the Sponge V2 on the Polygon network, the Sponge team is working towards giving the growing Sponger community another remarkable gain.
Impressive initiatives like the zero tax and staking offer make room for future value increase.
Furthermore, Sponge V1 holders still have the chance to join the train as they will be offered the equivalent of their nonstaked V1 tokens when the tokens go live on the project’s website. Hence, no one is left out. Also, Sponge V2 holders can now trade the token at the same price as the V1 as the community awaits the launch of new exchanges. It debuted on the Polygon network a few days ago and recorded impressive price movement.
📣 Attention, #SPONGERS!
Learn more about the token details below 👇https://t.co/TCdxgXx40w
— $SPONGE (@spongeoneth) February 6, 2024
Ultimately, there is no cause for alarm, particularly for V1 holders who have yet to see their staked tokens, as there are processes to ensure they are transferred to the Sponge V2 dashboard. Above all, traders and investors who have yet to join the movement still have a chance to become a part of the Spongers community before it goes live on new exchanges.
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