Crypto Token Trends on Avalanche Chain Today – Pangolin, Benqi, Lydia Finance

adminFebruary 24, 2024

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With the micro-cryptocurrency space expanding rapidly, new projects are being launched every day, each with their own unique use cases and value proposition. In this article, we will highlight four new coins that are currently popular on Avalanche Chain, a popular platform that tracks real-time data for various digital assets.

Additionally, interest in cryptocurrency pre-sales is growing. Investors are interested in new projects to hedge profits ahead of an expected altcoin rally. Market history shows that new projects benefit from bull market windfalls.

Avalanche Chain’s Cryptocurrency Token Trends

Therefore, the funding momentum for Bitcoin Minetrix’s ICO is gaining traction within the cryptocurrency community, supporting the project’s unique proposition. Bitcoin Minetrix set out to revolutionize the cloud mining sector by introducing tokenization. The move is aimed at increasing industry efficiency and eliminating fraudulent activities.

1. Pangolin (PNG)

Pangolin (PNG) is a decentralized exchange (DEX) operating on the Avalanche blockchain. It provides users with a platform to trade cryptocurrencies without a centralized intermediary.

At Pangolin’s core, we foster a community-driven ethos. This allows users to participate in governance decisions through a voting mechanism, shaping the development trajectory of the platform.

Pangolin also boasts extensive asset support, facilitating trading of a variety of digital assets. These assets include those built on the Ethereum network, including stablecoins, utility tokens, and governance tokens, all within the Pangolin ecosystem.

pangolin price chart

Additionally, the platform differentiates itself by prioritizing low-cost, efficient transactions. It also utilizes the Avalanche consensus mechanism to enable faster and cheaper transactions compared to other blockchain networks.

Pangolin also relies on an automated market making (AMM) system to further streamline the trading process. There is no need for an order book and it allows for decentralized, permissionless exchange of assets.

On the other hand, Pangolin’s market position is ranked 73rd among DeFi coins, and it has achieved notable performance, with its price rising 242% over the past year. It outperforms 87% of the top 100 cryptocurrency assets, trades above its 200-day simple moving average, and boasts high liquidity by market capitalization.

2. Bunch (QI)

BENQI emerges as a decentralized liquidity marketplace and liquid staking protocol running on the Avalanche smart contract network. The project provides users with a variety of platforms for lending, borrowing, and market monetization using digital assets.

Additionally, this protocol, conceptualized by Rome Blockchain Labs Inc., is positioned at the forefront of decentralized finance (DeFi). It aims to amplify capital efficiency by unlocking staked AVAX for use in various decentralized finance protocols.

QI price chart

Since the completion of the token sale on December 15, 2021, BENQI has shown remarkable performance metrics. Its price is up 38% over the past year and has outperformed 58% of the top 100 cryptocurrency assets over the same period.

Despite experiencing volatility, historical price data shows that the best performance was in 2023, with an impressive surge of 208.40%. However, the year with the worst performance was 2022, recording a decline of -95.77%. Meanwhile, on the operational side, BENQI provides liquidity to shared markets, facilitating lending and borrowing of digital assets. Additionally, it became possible to borrow using supply assets as collateral.

🍂Update @Vector_fi and @BenqiFinance xQI Partnership!
🍂 xQi is a derivative product that allows you to earn profits through staking. value from #Bench.
🔽Visit https://t.co/haI50PnIhM pic.twitter.com/JVVaEGoXFR
— 🔺 (@Avalanche_Space) February 22, 2024

The protocol also features a liquid staking solution, allowing staked AVAX to be tokenized for distribution within DeFi applications. Meanwhile, the interest rate model dynamically adjusts interest rates based on utilization to ensure healthy liquidity levels.

3. Lydia Finance (audio)

Lydia Finance is a powerful platform running on the Avalanche blockchain. The token is an audited automated market maker (AMM), yield farming and staking ecosystem. Backed by a team of experienced developers, Lydia Finance drives innovation in finance. Users can use a variety of features including staking, pooling, and monetization through the base currency, $LYD.

Current platform statistics reflect a price of $0.000580, a market capitalization of $46,027, and a market power of 0.00%. Moreover, historical data shows that the all-time high (ATH) hit $0.187672 on May 11, 2021, and the cyclical low of $0.000516 on June 19, 2022.

SOUND price chart

Despite recent price stabilization, sentiment remains optimistic and the Fear and Greed Index is at 76, indicating extreme greed. Additionally, Lydia Finance recorded 30 consecutive green days last month, indicating positive market sentiment.

With a circulating supply of 79.38M LYD out of a peak supply of 540.00M LYD, the platform continues to operate at high levels and trades near its peak cycle.

4. Penguin Finance (PEFI)

Penguin Finance has emerged as a leading DeFi protocol on the Avalanche Network. It stands out for its low gas fees, fast transaction speeds, and strong emphasis on decentralization. This protocol addresses the obstacles of high technical requirements and exclusion of gas fees. The token provides users with an innovative suite of decentralized applications, financial products, and comprehensive documentation.

PEFI, the native token of Penguin Finance, plays a multifaceted role within the ecosystem. This facilitates liquidity mining for Igloos (yield farming), staking for Penguin Nests, fee collection for the Penguin Auto-Synthesizer, and future governance for the Penguin DAO.

PEFI price chart

Penguin Finance stands out for its commitment to security and resistance to rug pulls. This is evident through secure, audited contracts and code forks from well-established protocols. Additionally, the CertiK audit conducted on June 16, 2021 demonstrates the project’s commitment to user safety.

Penguin Finance also strategically borrows from successful DeFi protocols such as PancakeSwap, SushiSwap, and Goose Finance. Therefore, we create user-friendly interfaces and innovative dApps like Emperor Penguin.

The current fear and greed index is 76, showing that market greed is extreme. Penguin Finance differentiates itself by attracting DeFi users looking for alternatives with lower fees and faster transactions. Our commitment to security and innovation further solidifies our unique value proposition in decentralized finance.

What will be the next top trending cryptocurrency?

Bitcoin Minetrix introduces a groundbreaking approach to Bitcoin mining by tokenizing mining power, giving users a new way to participate in the mining process.

Using the platform’s native BTCMTX token, users can accumulate mining credits without incurring the high electricity costs typically associated with mining operations. These mining credits can be exchanged for hash power to mine Bitcoin utilizing the platform’s innovative Stake-to-Mine model.

The project has attracted significant attention, with over 14,300 individuals joining Bitcoin Minetrix’s Telegram channel. It also successfully raised more than $11.3 million through pre-sales, indicating high investor interest in the project.

Additionally, analysts predict that BTCMTX has the potential for explosive value growth once it is listed on the exchange. This sentiment is further reinforced by endorsements, such as from YouTuber Jacob Bury, who recommended it to his 28,000 subscribers as “the best cryptocurrency to buy right now.”

Interesting news about #Cryptocurrency mine! 🚀#Polaris technology Unveiled plans for a $100 million, 200 MW data center in Muskogee, Oklahoma.
What opportunities do you think this development will bring to the community?#Bitcoin Metrics We successfully raised more money… pic.twitter.com/m6jQ29WJ1D
— Bitcoin Minetrix (@bitcoinminetrix) February 20, 2024

Coinsult’s audit of Bitcoin Minetrix’s smart contracts further ensures project security for investors. BTCMTX tokens are available at a discounted price of $0.0136 during the pre-sale period, presenting an attractive opportunity for risk-taking investors looking to tap into the project’s potential.

Visit Bitcoin Minetrix Presale