Fear in the crypto market is at its highest since the start of the bull run in October. Readings from the Fear/Greed index show that the market sentiment is rated at 38. That’s the lowest it went when the global crypto market cap drifted closer to the $1 trillion market.
Nevertheless, the current bear market’s uniqueness is marked by increasing investor interest in upcoming crypto projects. Thus, the shifting interest accounts for the price action of the top trending cryptocurrencies on Avalanche.
Trending Cryptocurrency Tokens on Avalanche
While this article provides quick insight into some of the most trending coins on the Avalanche chain today, it also mentions the 99Bitcoins presale. The presale offering of the 99BTC token went live a few weeks back and has garnered growing attention from investors. Further details of the project are included below.
1. ArrowToken (ARROW)
Arrow Markets is transforming options trading with its innovative RFQ system. This platform offers highly competitive option quotes, making it attractive to DeFi users. Its beginner-friendly interface makes trading accessible to people of all skill levels.
Today, Arrow Token (ARROW) ‘s price is $0.1786. However, it has seen a -3.82% decline in the last 24 hours and a -16.65% drop over the past week. The 24-hour trading volume is $15,583.85, and with a circulating supply of 3.5 million ARROW, the market cap is valued at $614,515.
Meanwhile, ARROW tokens are available for trading on centralized and decentralized exchanges. Gate.io is the most popular platform for ARROW, where the ARROW/USDT pair had a trading volume of $14,456.29 in the past 24 hours. Other notable exchanges for ARROW include Trader Joe and Trader Joe V2.1 (Avalanche).
Effortlessly transform market views into option strategies with Arrow V2 Lite Mode and execute them in one transaction, with top pricing and liquidity 🤓🔺 pic.twitter.com/5iROFPl3QV
— Arrow Markets | V2 now live!🔺 (@ArrowMarkets) July 3, 2024
These trends indicate that Arrow Token has faced recent price declines but remains actively traded, especially on prominent exchanges like Gate.io. The platform’s ease of use and competitive quotes could attract more users, potentially stabilizing and boosting ARROW’s value in the future. Traders should watch these developments to consider their options in the evolving crypto market.
2. Snowbank (SB)
Snowbank DAO operates as a decentralized reserve currency protocol on the Avalanche Network, utilizing the SB token at its core. The project’s growing user base gives it a spot among the top trending cryptocurrency projects on Avalanche. Each SB token is backed by a diverse basket of assets in the Snowbank DAO treasury, including MIM, SB-AVAX LP tokens, and other cryptocurrencies. This ensures that SB has an intrinsic value it cannot fall below.
Snowbank DAO also incorporates economic and game-theoretic dynamics through staking and minting, adding another layer of functionality to its ecosystem. The price of Snowbank (SB) is $231.20. Over the past 24 hours, SB has seen a price increase of 3.34%.
However, in the past week, the token has experienced a slight decline of 1.80%. The current circulating supply of SB is 160,000, which translates to a market cap of $36,908,279.
SB tokens can be traded on decentralized exchanges, with Trader Joe being the most popular platform. The SB/MIM trading pair on Trader Joe reported a trading volume of $530.27 in the last 24 hours.
Furthermore, Snowbank’s (SB) overall trading volume reached $2,409.92 in the past 24 hours. This marks a significant increase of 838.50% from the previous day, indicating a recent rise in market activity.
In summary, while Snowbank (SB) has experienced some price fluctuations over the past week, its recent increase in trading volume suggests growing interest and activity in the market. With its solid backing of diverse assets and innovative economic mechanisms, Snowbank DAO remains a noteworthy player in the DeFi space.
3. Nereus Finance (NXUSD)
With its decentralized, non-custodial liquidity market protocol, Nereus is making waves in the DeFi space. Users can join as depositors or borrowers, offering flexibility and opportunities for passive income. Depositors add liquidity to the market, while borrowers can access funds in an over-collateralized or under-collateralized manner.
Nereus stands out by providing dynamic, fixed interest rates with lower collateral requirements. The protocol focuses on use cases beyond just trading and price speculation.
At the core of Nereus Finance is its algorithmic stablecoin, NXUSD. Currently, NXUSD is priced at $0.9679, with a 24-hour trading volume of $14,569.64. In the last 24 hours, NXUSD has seen a price decline of -2.21% and a -5.34% drop over the past week.
NXUSD tokens are traded on decentralized exchanges, with Trader Joe being the most popular. The NXUSD/WXT trading pair on Trader Joe recorded a trading volume of $14,569.64 in the last 24 hours.
😴 Sleep soundly with Nereus Finance! 😴
Set your Take Profit & Stop Loss orders and rest easy knowing your trades are protected, even while you dream.
No more midnight crypto nightmares! 🌙 https://t.co/Pvk435kvIP#NereusFinance #DeFi #CryptoTrading #RiskManagement pic.twitter.com/DCkYTJ5wUd
— Nereus Finance (@nereusfinance) July 3, 2024
Interestingly, the trading volume of NXUSD has increased by 66.60% from the previous day, signaling a recent rise in market activity. This uptick in volume suggests growing interest and activity around NXUSD despite the recent price declines.
In conclusion, Nereus Finance and its stablecoin NXUSD are gaining traction in DeFi. With its flexible borrowing options and focus on practical use cases, Nereus presents a promising platform for users. As market activity increases, it will be interesting to see how NXUSD and Nereus Finance evolve in the coming days.
What Might Be The Next Top Trending Crypto
99Bitcoins steps into one of the most critical roles in the crypto ecosystem at this time. With the bears in control of the market, investing without adequate knowledge of the crypto market is highly risky. Thus, 99Bitcoins is one of the top presale cryptos to watch as bears continue to engulf the market.
The brand is mostly recognized for its role in the crypto educational space, helping traders and users familiarize themselves with the market’s dynamics. However, the brand recently decided to expand its services beyond basic educational products. It launched the 99BTC token, a project that aims to popularize the Learn-to-Earn movement.
Generally, the traditional learning method requires students to pay before gaining access to educational resources. However, with 99BTC, the table turns, and the student is rewarded for learning.
The movement and project’s overall aim is to give investors and traders the opportunity to hedge their assets against the ongoing bear market. Compared to other sectors like meme coins, utility-based projects often enjoy price stability in the bear market.
As the 2024 US presidential election approaches, #Crypto has become a powerful topic. 💪 @realDonaldTrump recently supported the crypto industry, aiming to make the US a leader in #Bitcoin mining. #99Bitcoins #BTC #Altcoins pic.twitter.com/Gl0eH4TniP
— 99Bitcoins (@99BitcoinsHQ) July 4, 2024
The 99BTC presale is still ongoing, and the project has raised $2.3 million towards the platform launch. The token’s presale offering comes with a discount of $0.00112. At the time of writing, investors only have a short window to take advantage of the presale discount before the next price increase, which necessitates the need to act swiftly.
Also, as an added value to investors on the project’s waitlist, 99Bitocins consistently shares cryptocurrency updates and news on its official Twitter account, and it might help to follow the platform to stay informed about market happenings.
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