In the past month, as Bitcoin broke through $69,000, VC value coins made a significant comeback. Major projects have been frequently updating, as if holding their cards close before revealing them, resulting in the market observingâwow, the gains are even more impressive than expected! From the mainnet launch of Worldcoin to the layer 2 expansion chain Unichain from Uniswap, and the launch of ApeCoin on ApeChain and its cross-chain bridge, value coins have consistently delivered solid actions. In just a few weeks, the market has seen a surge that is even crazier than most Meme coins.
The drama of this market surge lies in the fact that everyone initially thought Meme coins would continue to be the protagonists, crushing the market through hype and short-term surges. As a result, value coins, which seem 'slow to heat up,' turned the tide through substantial technological and ecological implementations, with VC coins making a comeback and skyrocketing. This operation, from 'bottoming' through technology to soaring prices, feels like a silent counterattack by VC projects against Meme coins.
The glory of Meme coins remains fleeting, like a soulless feast that returns to dullness after a show of strength. In contrast, value coins, by leveraging the expansion of multi-chain ecosystems, substantive DeFi functionalities, and the further improvement of infrastructure, are gradually dominating the market. Rather than relying on emotional trading, they depend on hard power. Is it a short-term carnival or a long-term dominance? It appears that value coins are slowly reclaiming the market's 'throne'.
Why did VC coins face FUD in the past?
The reason VC coins faced FUD in the past mainly stemmed from the following shortcomings:
Slow Delivery: Many VC-supported projects involve complex infrastructure construction and long R&D cycles. This leads to many projects receiving early funding but failing to launch usable products or services in the short term, significantly lagging behind the market's high expectations.
Unclear Business Models: Even leading technical projects, many VC coins still lack clear business models. Project teams often fail to timely launch products and services that can continuously generate profits, leading to unclear token value. For example, some VC project token designs do not provide long-term value capture mechanisms for investors.
Weak Token Economic Models: Many VC-supported project tokens only serve as transaction fees within the ecosystem and do not participate in governance or reward mechanisms. Due to limited demand, the market performance of such tokens struggles to support high valuations, and investors gradually lose confidence.
Reigniting VC Coins: Practicality and Long-Term Value
Despite the numerous challenges facing VC coins, it does not mean they lack value. On the contrary, many VC-supported projects demonstrate long-term potential due to their clear technical foundations, strong ecosystem support, and practical application scenarios. Here are several aspects worth paying attention to:
Practicality and Technical Support: Many value coins are accompanied by strong technological innovations. For example, Uniswap's technical innovations in the DeFi space (such as the automated market maker mechanism) have propelled the development of decentralized finance. Sui, with its unique design using the Move language, enhances transaction speed and security, attracting developers from the DeFi and NFT sectors.
Extensive Ecosystem: Many value coins have broad application scenarios, such as multiple decentralized lending platforms in the Sui network, like Suilend, showcasing its ecosystem expansion capabilities in DeFi. Similarly, ApeCoin has built a multi-chain ecosystem by launching a cross-chain bridge and DeFi functionalities.
Long-Term Development Potential: The real advantage of value coins lies in their long-term sustainability. For example, Uniswap's layer 2 expansion chain Unichain is dedicated to addressing the scalability issues of the Ethereum network and enhancing network security through staking mechanisms. As these projects gradually materialize, the long-term value of VC coins will be released.
Market Stability: Value coins have lower volatility compared to Meme coins, making them suitable for long-term investors. Although Meme coins can bring tremendous short-term gains, they are subject to severe market fluctuations, easily influenced by emotions and market manipulation. In contrast, value coins, backed by practical application scenarios and technical support, exhibit smaller price fluctuations and better resistance to declines.
The Rise of Value Coins: An Analysis of 8 Projects
As the market gradually returns to rationality, some technically advanced projects are demonstrating enormous potential. Here are 8 recently noteworthy value coin projects whose technical foundations, ecosystem expansion, and market performance indicate the potential of value coins:
1. ApeCoin (APE): From Meme coin to DeFi bridge
Introduction: ApeCoin is the token launched by the Bored Ape Yacht Club (BAYC), aimed at supporting the BAYC community and its associated DeFi and NFT ecosystem. With the launch of ApeChain and the cross-chain bridge, APE is gradually transforming into a key role within the multi-chain ecosystem. APE, as the native Gas token of ApeChain, is providing critical support for cross-chain transactions.
Current Circulation Status: ApeCoin has a total supply of 1 billion, with approximately 753 million tokens currently circulating in the market. The speed of token unlocking is gradually slowing.
Price Changes: In the past month, ApeCoin's price rose from $0.74 to $1.68, an increase of over 127%.
Future Potential Analysis: The initial popularity of ApeCoin stemmed from its cultural connection with the Bored Ape Yacht Club, but in the long run, relying solely on culture and community hype may not sustain steady price growth.
On October 20, ApeChain and its official cross-chain bridge announced their launch. According to market information, the first batch of meme coins in its ecosystem surged after issuance. The ApeCoin team indicated that stablecoins crossing to ApeChain would be converted to DAI and deposited into sDAI, accumulating earnings based on MakerDAO's savings rate. Meanwhile, LayerZero also announced that it has launched on the ApeChain mainnet and become its standard interoperability provider.
The launch of ApeChain and the official cross-chain bridge provide substantial application scenarios for APE, especially as a Gas token in the multi-chain DeFi ecosystem, giving it certain growth potential for the future. Additionally, LayerZero's cross-chain technology allows APE to be seamlessly transferred across multiple blockchains, enhancing the token's utility and liquidity. Overall, the future price movement of ApeCoin depends on the development of its cross-chain ecosystem and the ongoing introduction of valuable application scenarios. If the ApeChain ecosystem can continue to evolve and attract more developers and projects, APE has significant upside potential.
2. Uniswap (UNI): The Core Engine of Decentralized Finance
Introduction: Uniswap is the leading project in the DeFi space, adopting an Automated Market Maker (AMM) model that greatly simplifies the process of decentralized trading. Uniswap's technological innovations, such as liquidity aggregators and layer 2 solutions, have propelled the development of DeFi.
Current Circulation Status: The total supply of UNI is 1 billion, with approximately 600 million circulating in the market. The remaining tokens will gradually be released according to a linear unlocking mechanism.
Price Changes: In the past month, UNI's price rose from $5.50 to $7.60, an increase of approximately 38%, mainly benefiting from the launch of the Unichain testnet.
Future Potential Analysis: It has currently become the leading project in the DeFi space, maintaining a high market cap and trading volume over the long term.
On October 10, Uniswap Labs announced the launch of Unichain. Uniswap Labs stated that after years of building and expanding DeFi products, they identified areas for improvement in DeFi and the necessary conditions to continue advancing the Ethereum scalability roadmap. Unichain is a fast, decentralized Optimism superchain L2, aimed at becoming the chain for cross-chain DeFi and liquidity.
The launch of Unichain as a layer 2 expansion chain marks Uniswap's acceleration in technological innovation, aiming to address the scalability issues of the Ethereum network. This provides technological support for UNI's future growth. Furthermore, Uniswap continues to expand its liquidity aggregator and cross-chain trading capabilities, and as layer 2 becomes more prevalent, the decrease in trading costs and improvement in processing speed will further enhance its competitiveness. Due to Uniswap's dominant position in DeFi and ongoing technological innovation, UNI has long-term growth potential, although short-term volatility still exists.
3. Sui (SUI): High-Performance Blockchain and DeFi Innovator
Introduction: Sui is a high-performance blockchain built on the Move language, focused on supporting DeFi and NFTs. Its innovative design and strong technical performance have allowed it to rapidly rise in the field of decentralized applications.
Current Circulation Status: Sui has a total supply of 10 billion, with approximately 2.7 billion tokens currently in circulation. The token unlocking pace is stable, avoiding market sell-off pressure.
Price Changes: The price of SUI rose from $1.80 to $2.10 in the past month, an increase of 16.7%, mainly benefiting from institutional backing, the integration of USDC, and the launch of decentralized lending platforms.
Future Potential Analysis: Sui's technical advantage lies in its architecture based on the Move language, which provides high scalability and security, especially in the DeFi and NFT markets.
On September 12, Grayscale announced that its Sui Trust has opened to qualified investors seeking to invest in SUI.
On September 17, SUI partnered with Circle to introduce native USDC, further enhancing its application potential in decentralized finance.
Additionally, the launch of decentralized lending platforms such as Suilend has led to a significant increase in DeFi activities within the Sui ecosystem, with total value locked (TVL) continuously growing, showcasing its strong development momentum. Sui's innovative technology and expanding DeFi ecosystem give it long-term upside potential, but the key in the future lies in its ability to attract more developers and users to participate.
4. Jupiter (JUP): Liquidity Provider in the Solana Ecosystem
Introduction: Jupiter is a decentralized trading aggregator within the Solana ecosystem, providing users with optimal trading paths and low slippage trading experiences, making it a liquidity bridge in the Solana ecosystem. Jupiter integrates various liquidity sources within the Solana ecosystem, helping users complete trades at the best prices, and has also launched a mobile application to further enhance user experience.
Current Circulation Status: Jupiter's total supply is 10 billion tokens, with approximately 1.35 billion having entered circulation. As Jupiter's liquidity management functions continue to improve, token demand has also increased, and the gradually unlocking community and team staking rewards add to the token's liquidity.
Price Changes: In the past month, the price of the JUP token rose from $0.70 to $1.00, an increase of approximately 42%. The main drivers of this price increase are the expansion of the Solana ecosystem and improvements in the liquidity aggregation of the Jupiter platform.
Future Potential Analysis: On September 20, the Solana ecosystem DEX aggregator Jupiter released multiple updates, and in October, it rolled out mobile applications, email newsletters, and a DAO website to further enhance user experience.
The future performance of JUP heavily depends on the development of the Solana ecosystem. If the technical issues of Solana are effectively resolved, JUP is expected to welcome new growth opportunities. If the Solana ecosystem continues to expand, the JUP token is likely to rise accordingly, but one must remain cautious of the technical and market risks of the Solana network.
5. Bittensor (TAO): Pioneer of Decentralized Computing Networks
Introduction: Bittensor is a decentralized machine learning network aimed at promoting the development of Web3 and AI by providing decentralized computing resources. Bittensor offers a GPU-based computing leasing platform where users can rent computing resources by paying with TAO tokens, and participants in the Bittensor network can earn TAO tokens by sharing their computational power.
Current Circulation Status: The total supply of TAO tokens is 21 million, with approximately 7.38 million currently circulating in the market. The remaining tokens are gradually entering market circulation for leasing payments of computing resources. Since the liquidity of TAO relies mainly on the demand for computing within the network, the growth of the Bittensor project will directly affect the demand for TAO tokens.
Price Changes: TAO's price increased from $250 to $575 in the past month, an increase of 130%. The price rise is primarily due to Grayscale launching the Bittensor trust fund, while the increase in demand for decentralized computing resources has also boosted market interest in TAO.
Future Potential Analysis: Bittensor's innovative model combines blockchain with decentralized computing resources. Especially in the Web3 field, the rise of compute-intensive applications will drive demand for the Bittensor network. The TAO token, as a payment tool within the Bittensor ecosystem, is expected to see continuous growth in demand as the network expands. The Bittensor trust fund launched by Grayscale further boosts market confidence in TAO. With the continuous development of the Web3 ecosystem, the TAO token has significant growth potential, particularly against the backdrop of increasing demand for decentralized computing resources.
6. dYdX (DYDX): The Giant in the Decentralized Derivatives Market
Introduction: dYdX is the leader in the decentralized derivatives market, focusing on providing users with decentralized perpetual contracts and margin trading services. Its permissionless architecture and efficient order book system provide users with a highly transparent trading environment and have attracted a large number of institutions and high-frequency traders.
Current Circulation Status: The total supply of DYDX tokens is 400 million, with approximately 220 million currently circulating in the market. The team's and investors' tokens are subject to a gradual unlocking mechanism to ensure that the market does not experience severe fluctuations due to a large number of tokens entering circulation.
Price Changes: In the past month, the price of DYDX rose from $0.80 to $1.25, an increase of over 56%. After the return of founder Antonio Juliano, market confidence in dYdX has been boosted, and the expansion of its platform features and growth in trading volume have further driven the token price.
Future Potential Analysis: dYdX's leading position in the decentralized derivatives trading market is unshakeable. Its technical architecture and product features are highly favored by institutions and large traders. With the return of founder Antonio Juliano, dYdX's strategic direction is clearer, and it is expected to continue enhancing its derivatives trading capabilities in the future.
On October 20, dYdX Foundation CEO Charles d'Haussy posted on social media, stating, 'During tomorrow's dYdX Day event, speakers will reveal secrets about moats, Trojan horses, and flywheels.'
Additionally, the transparency and trustless characteristics of decentralized exchanges provide long-term growth potential. As the leader in decentralized derivatives trading platforms, dYdX inherently possesses significant growth potential in the long term, especially as the derivatives market continues to expand in the future.
7. SushiSwap (SUSHI): The Innovative Force in the DeFi Space
Introduction: SushiSwap is an innovative pioneer in the DeFi space, initially a fork of Uniswap, but through technological innovation and expansion, it has gradually established an independent position in the DeFi sector. SushiSwap offers features such as liquidity mining and margin trading, and through its unique product design, it has formed a broad user base.
Current Circulation Status: The total supply of SUSHI is 250 million, with approximately 140 million currently circulating in the market. The team and early investors' token lock-up periods are gradually unlocking, and further demand for the token in the market is being boosted through staking incentives and liquidity mining.
Price Changes: In the past month, the price of SUSHI rose from $0.52 to $0.80, an increase of approximately 53%. This increase is primarily driven by expectations around SushiSwap's technological upgrades and strategic acquisition plans.
Future Potential Analysis: On October 21, Sushi Labs CEO Jared Grey posted on X, stating that Sushi has surpassed major aggregators on competing networks in terms of price, gas, delays, and other key metrics, and that the aggregate volume is steadily increasing month by month. Sushi is about to announce a strategic acquisition that will allow it to bring built-in invisible innovative DeFi primitives into the AMM and perps vertical.
Its latest technological upgrades and strategic acquisition plans showcase the SushiSwap team's ambition in the future DeFi landscape. The future performance of the SUSHI token largely depends on whether these innovations can be successfully converted into practical applications and liquidity growth. SushiSwap is continuously enhancing its competitiveness in the DeFi market through technological innovation and expansion, and in the long run, the SUSHI token has upside potential.
8. Worldcoin (WLD): Identity Verification and Web3 Infrastructure Attempt
Introduction: Worldcoin is a global identity verification and Web3 infrastructure project supported by OpenAI founder Sam Altman. Worldcoin provides global digital identity verification through World ID, utilizing a decentralized identity system to offer users real identity verification services. Its Layer 2 network World Chain is built on Optimism and supports cross-chain trading, collaborating with several well-known projects (such as Uniswap, Etherscan, etc.).
Current Circulation Status: The total supply of WLD tokens is 10 billion, with approximately 550 million currently circulating in the market. As the number of verified users increases, more tokens will gradually unlock for market circulation.
Price Changes: In the past month, WLD's price rose from $1.30 to $2.30, an increase of 76%. Factors driving this price increase include the launch of the World Chain mainnet, collaboration with Dune Analytics to enhance on-chain transparency, and Uniswap's trading support on World Chain.
Future Potential Analysis: Worldcoin's application scenarios cover identity verification, financial transactions, and Web3 applications, aiming to provide users with an ecosystem based on real human identities. The driving force behind the price increase comes from the launch of World Chain's mainnet and collaborations with Dune Analytics to enhance on-chain transparency.
Moreover, Uniswap has officially launched World Chain, significantly increasing its trading volume, with Worldcoin becoming one of the largest applications on OP Mainnet. If Worldcoin's identity verification protocol continues to expand its application scope and maintain its global user growth, the demand for its tokens will steadily rise. Additionally, with the growing usage of its Layer 2 network World Chain and more developers building applications on its platform, the utility and demand for the WLD token will increase significantly.
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Conclusion: The Long-Term Rise of Value Coins
Although Meme coins dominated the market over the past year, as the market matures, value coins are regaining investor attention due to their technological support, ecosystem expansion, and long-term development potential. These 8 projects showcase the potential of value coins in the future market. In the future, as these projects continue to materialize, value coins are expected to lead a new bull market.
