Cryptocurrency Tokens Trending on Avalanche Chain Today – LayerZero, Spell Token, PHARAOH

Since adopting Bitcoin as part of its financial strategy in April 2024, Japanese company Metaplanet has seen a significant rise in its shares of 443.2%, far outpacing the performance of other major assets. The sharp increase is largely attributed to the company’s bold move to embrace cryptocurrency, which boosted investor confidence and increased demand for its shares.

Additionally, a cryptocurrency analyst predicted that Cardano’s native token ADA could reach $0.50, reinforcing the growing market optimism. Meanwhile, tokens within specific blockchains have also seen rallies. This article organizes the cryptocurrency tokens trending on Avalanche Chain today.

Cryptocurrency Tokens Trending on Avalanche Chain Today

LayerZero is a cutting-edge interoperability protocol that connects over 50 blockchains. Spell Token (SPELL) is currently trading at $0.000214, with a market cap of $324.71K. The PHARAOH token (PHAR) is valued at $46.255, with a market cap of $847.86K.

Pepe Unchained (PEPU) has attracted attention from the crypto community due to its successful presale and future development plans. Additionally, PayPal has expanded its services, allowing merchants to buy and sell cryptocurrencies.

1. Layer Zero (ZRO)

LayerZero is an innovative interoperability protocol connecting over 50 blockchains. The network allows developers to create seamless applications, tokens, and omnichain experiences. The protocol operates through immutable on-chain endpoints, a configurable security stack, and a set of permissionless executors. This framework enables censorship-resistant message transfer between different blockchain networks, providing a more connected and decentralized ecosystem.

At press time, LayerZero is trading at $4.704, with a market cap of $5.01 million. In the last 24 hours, its trading volume reached $1,01,000, representing an 18.18% increase in activity. The circulating supply currently stands at 1.03 million ZRO coins, which represents 100% of its total supply. Additionally, the platform has processed a significant number of 121.74K transactions and its volatility index is 0.3713. Although market liquidity remains modest at $2.7K, the project is showing signs of resilience.

Regarding the price predictions, LayerZero is expected to see steady growth soon. By September 30, 2024, ZRO price could rise as high as $5.79, an increase of 20.59%. Forecasts for the following week suggest that the token could trade in a range of $5.79 to $7.01, with the upper price target indicating a 21.13% upside by October 7, 2024.

In conclusion, even if the protocol is still evolving, LayerZero demonstrates strong growth potential. Its bullish market outlook is supported by increasing activity and positive technical indicators. However, market fluctuations could still impact its trajectory.

2. Spell Token (SPELL)

Spell Token (SPELL) is trading at $0.000214, with a market cap of $324.71K. Over the past 24 hours, SPELL saw a 51.94% increase in trading volume, reaching $834.78. The circulating supply stands at 1.51 billion SPELL coins, which is fully in line with the maximum available supply.

SPELL’s market indicators show a moderate level of activity. The token has a market cap of $324.71k and liquidity of $9.2k, with 26,45k holders. Over the past 30 days, SPELL has experienced 17 green days, reflecting some consistency in price gains. Currently, SPELL is trading 6.25% above its 200-day simple moving average (SMA) of $0.000553, which can be a positive signal for future performance.

Regarding recent trading activity, SPELL recorded nine transactions in 24 hours. Five were buy orders, totaling $804.88, while four were sell orders, totaling $29.91. The token’s price during these transactions ranged between $0.00014 and $0.00021, with liquidity appearing moderate relative to its market capitalization.

. If it hits the upper price target, it would result in a significant increase of 368.72%.

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Spell Token has demonstrated positive performance over the past year, with a 16% price increase. Its current price, positioned above the 200-day SMA, is a bullish indicator, although the token remains somewhat volatile. With moderate liquidity and market capitalization, price predictions show further growth potential. However, investors should remain aware of risks and market fluctuations when considering future investments in SPELL.

3. PHARAOH (PHAR)

The PHARAOH token (PHAR) is currently priced at $46.255 USD and has a market cap of $847.86K. Additionally, its 24-hour trading volume is $87.54K, reflecting an increase of 18.14% over the past day. Additionally, the circulating supply is 18.33,000 PHAR coins, which represents 16.27% of the total supply of 112.62,000 PHAR.

In terms of liquidity, the market holds $621.9K and the token has a total market cap of $4.98M. Furthermore, the number of holders is 5.1K and 114.75K transactions have been made so far. Additionally, the coin has a volatility rate of 0.1407, which indicates moderate price fluctuations.

Looking at recent activity, PHARAOH showed an increase of 13.06% in the last 24 hours. In particular, it experienced significant weekly growth at 85.63%. Over the past 24 hours, 132 trades were processed, with 51 buys totaling $52,710.53 and 81 sell orders totaling $34,834.85.

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PHARAOH has grown in popularity, with 5.1K holders and over 114.75K transactions in total. The token’s liquidity pool consists of 10.93K WAVAX and 6.93K PHAR, representing 6.15% of the total pooled supply. Notably, PHARAOH’s DEXTscore, which assesses project reliability, is strong, with high scores across the board.

The Pharaoh Exchange platform also surpassed $20 million in total value locked (TVL), with over $1.15 billion in total trading volume and 581,545 total trades executed by 50,470 traders. This growing activity suggests growing confidence in the platform.

What could be the next hottest cryptocurrency?

Pepe unleashed (PEPU) has recently gained attention in the crypto space thanks to its pre-sale success and plans for future development. The project has so far raised $15.4 million, making it an early-stage cryptocurrency. With its upcoming layer 2 blockchain specifically designed for meme coins, PEPU could see further growth, especially with its goal of offering a network 100 times faster than Ethereum.

One of the main features of the Pepe Unchained project is the introduction of tools such as a block explorer and an Ethereum bridge, which could make the platform attractive to traders and coin creators. PEPU token price currently sits at $0.00985, with further increases expected as the presale progresses.

The project has allocated 40% of its total token supply to presale participants, while 10% is reserved for marketing efforts. Additionally, 7.5% of the supply is reserved for trading liquidity when PEPU is listed on decentralized exchanges (DEX).

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PEPU’s dual staking protocol, which promises an estimated annual return of 137%, is a major attraction for investors. This staking option has already attracted over 1.16 billion PEPU investor tokens. The project is also launching a developer incentive program, “Frens with Benefits,” which aims to attract blockchain developers to its Layer 2 network. Grants under this program, managed by the “Pepe Council,” are expected to start in the fourth quarter of 2024.

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Learn more

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