Cryptocurrency beginners struggling to find today’s best investment. There are several options available. It can become rather difficult when numerous altcoins are trying to do identical things. Let’s dive in and explore the top 10 projects that have actual worth in a bear market like this. They have shown a solid foundation with a huge community and unique use cases. This article does not include any financial advice.

1. Avalanche (AVAX)

• Market Cap: Over $8.3B
• Category: Blockchain Platform

Avalanche is a Layer 1 (L1) blockchain built to be scalable, cheap to transact on, and sustainable. The Avalanche mainnet went live in September 2020, and it has since expanded to accommodate a variety of other tokens and decentralized applications (dApps) on its network.

Ethereum’s gas fees and Solana’s two outages demonstrate the importance of scaling solutions. Avalanche’s ideal scaling option is subnets. Allow projects to stake AVAX in order to create L1 or L2 blockchains.

The Avalanche Foundation launched a $290 Million (4 million $AVAX) incentive program to assist build subnets. This “Avalanche Multiverse” Program attempts to develop its subnets and expand use cases. DeFi, gaming, NFTs, and even institutional blockchains can all run on Avalanche without congesting their primary network.

2. Trader Joe (JOE)

• Market Cap: Over $100M
• Category: AMM/DEX

JOE initially started with just a DEX trading feature but progressed and now provides staking, farming, lending, and launch investing options. They are the primary source of liquidity for the most major AVAX liquidity pairs. Currently, they provide three staking options:

1. Stake JOE for rJOE and gain access to Rocket Joe launches
2. Stake JOE for sJOE. Earn your share of the platform revenue with stablecoin rewards (USDC)
3. Stake JOE for veJOE. Earn boosted JOE yield in select farms as well as future governance voting power

Trader Joe has had rapid growth in 2021 and has long been one of the top revenue-generating DeFi protocols in the cryptocurrency market. Trader Joe’s ultimate goal is to construct a cryptocurrency trading platform that gives users a ‘one-stop-shop’ DeFi experience.

Additionally, Trader Joe plans to introduce Joepegs, an upcoming Non-Fungible Token (NFT) marketplace, with the goal of revolutionizing the NFT scene and enhancing the NFT space on Avalanche’s infrastructure.

3. Dexalot (ALOT)

• Market Cap: Over $70M
• Category: AMM/DEX

Dexalot is an exchange that provides the appearance of a central exchange to a blockchain-based decentralized application. Its goal is to provide a genuinely inclusive and transparent platform in which Dexalot users can trade cryptocurrencies in a secure and efficient way, without slippage or custody risk.

Dexalot is now positioned to join the second wave of subnet implementation and will be one of the early DeFi projects to enter its own subnet. The development process is proceeding at a breakneck pace with the intention of bringing the Dexalot subnet live within the next two to three months. The testing has already begun.

In addition to enhancing the user experience, community participation, and capital efficiency, the objective of this initiative would be to raise the speed of transactions by at least 10-fold and bring down the cost of conducting transactions to a level where it is negligible.

4. Platypus (PTP)

• Market Cap: Over $6M
• Category: AMM stableswap

Platypus Finance is a single-sided AMM for stablecoins based on the Avalanche network with the aim of boosting capital efficiency. Rather than providing liquidity through token pairs. LPs can provide liquidity through a single token. This mechanism intends to improve the existing AMM framework by mitigating LPs’ temporary loss risk, reducing trader slippage, and increasing ecosystem capital efficiency.

The $PTP and $vePTP boosting rewards give LPs a long-term incentive to maintain providing liquidity rather than withdrawing their assets. This helps Platypus decrease slippage by stabilizing pools and reducing volatility. It will be interesting to see how this method stacks up against typical AMM frameworks in terms of TVL and secondary market trade.

Additionally, the official launch of Platypus NFT gives massive value to both DeFi users and NFT owners. It has DAO-led incentives in the future, which allows you to co-create the future of Platopia along with other passionate owners.

5. BenQi (QI)

• Market Cap: Over $4M
• Category: Lending/Borrow

BENQI is a Defi liquidity market protocol that consists of:

• BLMBENQI Liquidity Market (BLM) protocol allows users to lend, borrow, and earn interest with digital assets. Depositors can receive passive income while borrowers can borrow over-collateralized.
• The BENQI Liquid Staking (BLS) protocol is a liquid staking solution that tokenizes staked AVAX so users can utilize the yield-bearing asset in Defi apps.

BenQi is one of the most significant projects in the Avalanche Community ecosystem since it is directly backed by Ava Labs, the firm that founded Avalanche.

Through the Avalanche-Ethereum bridge, Ethereum users who are unsatisfied with the network’s congestion and fees can migrate their assets to Avalanche (AEB). It will inspire people interested in DeFi to join the non-traditional, open financial movement. In this case, it is BenQi. The company plans to deliver new features such as flash loans, new assets through government voting, and wallet credit rating in the future.

6. Yeti Finance (YETI)

• Market Cap: $1M
• Category: Lending/Borrow/Stablecoin

Yeti Finance is a next-generation decentralized lending protocol that lets users borrow up to 21 times the value of their portfolio of LP tokens, staked assets like sJOE and sAVAX, and yield-bearing stablecoins for 0% interest.

It provides cross-margining across all collaterals and automatic compounding of yields on deposited assets. Yeti Finance borrowers mint YUSD, a completely decentralized, hard-pegged stablecoin.

The protocol reached $830M TVL 6 days after launch. The Avalanche Foundation’s investment in Yeti Finance confirms their trust and support for the project. Avalanche will continue helping Yeti Finance become DeFi’s top borrowing protocol.

7. DeFi Kingdoms: Crystalvale (JEWEL)

• Market Cap: Over $40M
• Category: NFT/GameFi/DEX

DeFi Kingdoms is a game, a decentralized exchange (DEX), a liquidity pool (LP) opportunity, and a market of rare utility-driven NFTs, that all play out seamlessly in the incredibly nostalgic form of fantasy pixel art. DeFi Kingdoms is using the Harmony Protocol blockchain. However, its blockchain (DFK chain: Crystalvale) was launched on March 30, 2022, utilizing Avalanche’s subnet technology.

By launching its own chain, DeFi Kingdoms intends to obtain greater control over the user experience, including transaction speed and finality. DFK Chain will utilize JEWEL as a gas fee. This increases the utility of the token and eliminates the need to hold a second token for gas fees. Recently, DFK Chain hit 10 million total transactions.

8. Crabada (CRA)

• Market Cap: Over $13M
• Category: NFT/GameFi

Crabada is a Play-and-Earn game that provides an exciting and entertaining experience in an underwater world. The game includes a variety of gameplay modes, including battle, mining, and exploration. The purpose of exploration is to acquire experience, find Crystal Shell objects, and unlock new mining plots. The Battle Game mode officially launched on May 16.

Crabada is a popular game on social media, even surpassing Axie Infinity at some time. More people will join the game if it offers a higher return on investment. The P2E ratio of Crabada may now be more accessible to new players, as opposed to the early game when Crabs were pricey, TUS and CRA costs were high.

9. Avalaunch (XAVA)

• Market Cap: Over $14M
• Category: IDO platform

Avalaunch is the Avalanche ecosystem’s first launchpad for innovative projects. It provides a decentralized fundraising platform that is fast, safe, and efficient. Ava Labs powers Avalaunch, which brings only the finest and brightest projects to the Avalanche ecosystem.

Avalaunch is a launchpad that has launched the most projects on the Avalanche ecosystem with a relatively high Return on Investment. Some examples of these projects include CRA x 164, Roco x 52, and PTP x 166. XAVA is the platform to use if you wish to look for investments using IDO.

10. Kalao (KLO)

• Market Cap: Over $2M
• Category: NFT Marketplace

Kalao is a platform connecting NFTs with Virtual Reality. It provides the NFT space with a next-level NFT marketplace, NFT art galleries, and entire virtual metaverses. Their current development plans are focused on integrating the Avalanche network’s NFTs into their platform.

Kalao aims to be the Avalanche Open Sea, serving as the go-to marketplace for all NFTs on the Avalanche C-Chain. Allowing NFT owners to have their own NFT galleries to show as a collection and engage in the Kalao Citadel, the platform’s whole virtual metaverse universe. Kalao has a lot to unwrap, and the concept they’re developing is the future of the NFT space, combining a marketplace and metaverse with Virtual Reality capabilities.

Verdict

Certainly, the Avalanche Ecosystem appears to be on the verge of exploding. But before ending, any investment carries some level of risk. Although many investors will use a short-term strategy to trade cryptocurrencies in order to capitalize on price volatility, the ideal way to approach this market is with a long-term perspective. This will help you to survive market volatility, allowing you to adopt a far more hands-off approach to crypto.

Find more information about Avalanche:

Website: https://www.avax.network/

Whitepaper: https://www.avalabs.org/whitepapers

Twitter: https://twitter.com/avalancheavax

Telegram: https://t.me/avalancheavax

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Marshall

Coincu Ventures