The asset price has seen dramatic growth as activity on the multi-chain has increased. Despite the recent migration to POL, the asset remains one of the tokens to watch in this bull run. More importantly, assets in the ecosystem are outperforming the market trend, with Metal, Algebra, and Argoncoin ranking at the top on the multi-chain.
Popular Cryptocurrency Tokens on Multichain
Additionally, on the MLS, Sponge V2 has become a highly-watched token, having recently migrated from V1. Its superior performance and promise of deflationary initiatives have sparked investor interest in the asset, with many betting on its token in anticipation of its upcoming listing. Here are details on its latest trends, as well as the performance of other popular tokens on the MLS.
1. Algebra (ALGB)
Algebra is a recently launched liquidity solution that is expected to be an alternative to Uniswap V4. It claims that, unlike Uniswap, it offers an innovative modular engine. According to it, it divides the overall DEX setup into two components: the core codebase and plugins.
Market data shows that the project is gradually gathering momentum, and several exchanges are integrating its protocol. Some of the known platforms using the Algebraic protocol include QuickSwap, ZyberSwap, Thena, Camelot, StellaSwap, SpiritSwap, Magma, eZKalibur, SynthSwap, Lynex, SwapBased, Hercules, Swapsicle, Swapr, etc.
According to data obtained from its website, the platform's trading volume reached $180 million in the past 24 hours. This value also increased by 5% from the previous time - in addition, the total transcription fees in the past 24 hours reached $190,000.
Green is our color!
Up to $183 million in total locked value
Daily trading volume exceeds $150 million and still growing
A total of $151,000 in fees were generated on the Algebra-powered DEX
This week's $ALGB repurchase amount is $81,900
This is just the beginning of the day. Stay tuned for our stats…
pic.twitter.com/CyOAQW1pEn
– Algebra DEX Engine (@CryptoAlgebra)
February 19, 2024
Despite the increase in reported activity on the protocol, the native token ALGB has not performed well. In the past 24 hours, the price of ALGB has fallen by more than 5%, and the trading volume has dropped by 50%. Although the platform has taken buyback measures to further strengthen the value of the asset, the value of AGC is still falling sharply.
2. Argocoin (AGC)
Multi-side chains are home to some of the most advanced dApps in the crypto ecosystem. For example, Argocoin offers investors the opportunity to participate in its AI project through the AGC token. As interest in decentralized physical infrastructure increases, many projects now aim to offer crypto investors the opportunity to bet on the future of the industry. The project is the brainchild of the Develop AI team.
The team hopes to redefine the way people interact with artificial intelligence. It is committed to helping people have a sense of ownership in the growing wave of artificial intelligence. In fact, artificial intelligence is quickly becoming a trend worth paying attention to, and many new crypto projects are taking advantage of this trend to create novel projects.
Team expansion //2/10
$AGC
It is a fair launch project.
We are building a strong and loyal community, and early on we saw people who are passionate about decentralized AI.
One of the individuals that stood out was Project W//
@fitforcrypto_
$AGC
yes…
pic.twitter.com/gnHWMxnBWm
– Devolved AI (@devolvedai)
February 13, 2024
Today, AGC is on the list of top projects on the multilateral chain. Although its popularity has little impact on its performance, the number of holders has increased by about 1% in the past 24 hours, and the price has slightly dropped by about 2%.
As of this writing, Argocoin has completed over 84,000 transactions, which is a significant achievement for a relatively new cryptocurrency. Furthermore, it has close to $500,000 in trading volume during that period. The future performance of the asset is still being determined, as current data provides little guidance.
3. Bombcrypto Coin (BOMB)
Despite being a relatively new project, Bombcrypto is seeking more recognition. Despite the lack of any signs of deviation from market data, the token has seen a significant price surge today, which may have contributed to its popularity on the MChain.
BOMB’s price has risen by more than 70% in the past 24 hours, while trading volume has remained largely unchanged. The cause of the sudden price increase is unclear, as there is no market data showing any deviation from it.
However, Bombcrypto was recently praised for its endorsement by the Bitget wallet, which may have restored investor confidence in the asset. Sadly, its 11,400+ holders may need a lot of patience as the cryptocurrency has lost more than 80% in value in today’s reversal.
We are in the spotlight on Bitget Wallet
https://t.co/sDDeRA9YTy
– Bomb Crypto (@BombCryptoGame)
February 1, 2024
Likewise, BOMB might not be able to sustain the uptrend as bearish pressure will soon start to roll in as evidenced by its moving averages.
4. Metal (METAL)
METAL, also known as BADMAN Robot, has seen a sudden price spike in the early hours of this morning, likely as a result of its recent listing on Steam. This achievement could have sparked an increase in demand for the platform.
METAL is the native cryptocurrency of the gaming project BADMAN robots. The project promotes a team-based shooter experience and capitalizes on the growth of the Gamefi trend which is expected to reach billions of dollars this quarter. We have already seen the growth in the value of assets like AVAX which have seen huge gains due to this trend.
Another milestone achieved! We are now also available on Steam
@Steam
Add our game to your wishlist, the first tests are planned there.
https://t.co/FGeyWFdQXU
pic.twitter.com/ZsZB2Izcj7
– BADMAD ROBOTS (@badmadrobots)
February 19, 2024
Today, the price of METAL has increased by more than 6%, making it one of the popular cryptocurrencies on the multilateral chain. However, its trading volume has dropped by more than 20% in the same period. According to the information on the multilateral contract scanner, it has about 4,300 holders.
However, due to its past performance, METAL will most likely not be able to maintain its position on the hot trending list. The asset has a history of drastic declines that have caused its value to drop significantly below its listing price. As the price rises, investors may expect the token to face significant pressure from the bear market.
What might be the next hot cryptocurrency?
Sponge V2
After listing on the multi-party chain, it has demonstrated impressive trends, with some days rising as high as 70%. Its growing popularity stems from the record of its V1, which had a market cap of over $100 million at its peak.
Based on the current V2 trend, it is hard to imagine what the prospects will be when V2's deflationary initiatives and utility take effect. However, the staking function is already live, allowing SPONGE holders to earn up to 90% annualized yields. The community currently has more than $10.19 million staked.
SPONGE
The current trading price is $0.00004589 with a market cap of $1.09 million.
In addition, the community recently completed the migration from V1 to V2. Therefore, all unstaked V1 tokens will be returned to holders as planned. Investors who missed the discounted price now still have the opportunity to participate in the market.
As the deflationary initiative takes effect and the token is listed on more exchanges, its price is bound to rise significantly. In addition, the practical features integrated into V2 will ensure the long-term value of the token.
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