The Polygon network is currently showing a significant upward trend in price, and the activity of popular tokens in the ecosystem is increasing. As of yesterday, the number of active addresses on the chain reached more than 1.1 million. As a result, the price of POL has risen significantly.
However, the surge in prices is not limited to the Polygon ecosystem; Bitcoin has recorded a price increase of more than 8% in the past 24 hours. Clearly, the cryptocurrency bull run is in full swing.
The hottest cryptocurrencies on Polygon
While the bull run is still going on, it is best to take a step back and look into new projects that can provide investors with opportunities for impressive returns. SPONGE has recently become one of the most watched cryptocurrencies on the Polygon chain. Here is a summary of the project's recent performance and prospects in the bull run.
1. Voxies Token (VOXEL)
Voxies (VOXEL) is an engaging 3D turn-based tactical role-playing game. Moreover, the token draws inspiration from classic games from the 1990s and 2000s. It combines modern elements to provide players with a unique gaming experience. The game offers two game modes - exploration and combat, with role-playing mechanics.
Voxies (VOXEL) is currently priced at $0.282186 with a 24-hour trading volume of $458,400. Its market capitalization is $33.09 million and its market share is 0.00%.
Additionally, VOXEL’s price has grown by 4.31% in the past 24 hours, contributing to its overall performance. The coin reached an all-time high of $4.74 on December 16, 2021, and an all-time low of $0.123601 on June 15, 2023.
Despite the current bullish sentiment represented by a Fear and Greed Index of 79 (Extreme Greed), VOXEL’s circulating supply is 117.26 million. This is already above the maximum supply of 300 million, indicating the potential for further growth.
Over the past year, the token has an annual supply inflation rate of 28.59%, with 26.07 million VOXEL created. Trading above the 200-day simple moving average and being listed on Binance adds to its appeal.
As the native utility currency of Voxie Tactics, VOXEL enables players to acquire in-game items, including weapons and armor. Through a unique feature, players can earn VOXEL tokens within the game and exchange them on the secondary market.
In terms of historical performance, 2023 was an outstanding year for Voxies, with a price increase of 42.04%. On the contrary, 2022 saw a significant decline in performance, falling from $3.61 to $0.164268, a drop of 95.45%.
The average annual growth rate over the past four years was -8.75%. Voxies performed best in the fourth quarter, with an average gain of 20.37%. However, the second quarter was its weakest quarter, with a loss of 61.95%.
2. Proxies（PRXY）
Proxy, now renamed BTC Proxy, is an institutional-grade Bitcoin DeFi bridge project that connects Polygon and Ethereum networks. In addition, its main role is to achieve decentralized tokenization of Bitcoin, focusing on serving multinational institutions. The platform recently migrated its contract address from Proxy to BTC Proxy to reflect its focus on Bitcoin integration.
At the same time, users can easily trade and manage assets between different blockchains by using Proxy Relay. This bridge allows Bitcoin to be seamlessly transferred to Ethereum or Polygon, eliminating the need for a centralized exchange system.
Despite the many promising features outlined in its white paper, BTC Proxy also acknowledges some challenges in the Ethereum ecosystem. These challenges include providing a robust, permissionless and decentralized bridge for Bitcoin transfers.
Proxy (PRXY) is currently priced at $0.114751. Its 24-hour trading volume is $112,541 and its market capitalization is $53,981.
The token’s distribution contributes to its high liquidity, as reflected by its market capitalization. This liquidity provides ample opportunities for trading and exchange within the market.
Ongoing ICO crowdfunding
#BTC
Fund balances reached a new all-time high.
Analyzing its annual performance, 2022 was the best year for Proxy, with a price increase of 14.30%. On the contrary, 2021 suffered a significant drop of 99.51%, highlighting the volatility of the token.
Over the past four years, Proxy has averaged an annual growth rate of -29.43%. The token typically performs strongest in the second quarter, with an average gain of 96.81%. Conversely, the third quarter is typically the weakest, with a loss of 36.71%. These insights provide valuable context for investors considering incorporating Proxy into a portfolio diversification strategy.
3. Turnup（LFG）
The TurnUp Token (LFG) is the core of the TURNUP platform, representing the world's first Web3 social gaming ecosystem. In this innovative environment, players can immerse themselves in a variety of instant games and dynamic guilds. In addition, they can also earn valuable assets, all within a Web3 social graph framework.
The goal of the token is to create an inclusive and decentralized gaming community supported by a strong infrastructure and tool suite. LFG tokens are the in-game currency that facilitates various utility functions such as mission unlocks, club gains, and NFT purchases.
Based on impressive price performance, including the recent 41.10% increase, LFG tokens are actively traded on decentralized exchanges such as Uniswap V3 (Polygon). This reflects TURNUP’s growing popularity and appeal within the gaming and cryptocurrency communities, demonstrating its potential for growth and adoption.
4. Affyn (FYN)
Affyn is at the forefront of developing blockchain-powered metaverse projects that offer free-to-play, monetize mobile games. Affyn combines gaming fun with blockchain technology by leveraging geolocation capabilities and augmented reality mechanics.
FYN tokens are designated blockchain utility tokens that enable players to use earned tokens in both virtual and real-world scenarios. It establishes a unified closed economic system, enhances the overall gaming experience, and provides tangible benefits to players.
According to the latest update, Affyn's market performance shows a current price of $0.044301, with a significant growth of 49.47% in the past 24 hours. The coin has a market cap of $11.25 million and a market cap of 0.00%. Affyn has shown strong performance, growing by 36% in the past year, surpassing 50% among the top 100 crypto assets during this period.
Moreover, it remains trading above its 200-day simple moving average, reflecting its stable and positive trend. Affyn has had 21 up days in the past 30 days, indicating that the market sentiment is positive and it is close to its cycle high.
Could be the next hot cryptocurrency
Sponge V2 becomes the next generation of the $SPONGE memecoin, marking a significant milestone in 2023, growing its market cap from $1 million to nearly $100 million. Its remarkable performance therefore highlights the coin’s resilience and potential for further expansion.
The core of Sponge V2 is the innovative staking-bridging model. This feature allows $SPONGE holders to seamlessly transition to V2 by staking their V1 tokens. This strategy not only simplifies the conversion process, but also rewards loyalty, as the staked V1 tokens will be locked for four years, promising a minimum annual interest rate of 201%.
Today, SPONGE is outperforming most cryptocurrencies in the market, gaining over 21% in the last 24 hours. This dynamic price action provides an opportunity to reap some rewards in a bull run. Fortunately, the project also has some upcoming utility features that will increase demand for the token. Lastly, SPONGE’s market data shows that early investors will reap huge rewards if it maintains its current price action.
Don't forget the upcoming #SpongeV2 Play to Earn game! Stay tuned for updates.
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