While Bitcoin and other top cryptocurrencies continue to disappoint, some altcoins outperform the entire market by leaps and bounds. We see well-established projects that were once dead in the water gain huge traction and popularity in a matter of weeks. As a result, new ecosystems in the crypto space are trending in a way no one imagined.
Most of these altcoins have observed significant network growth, daily active users, and, most importantly- less correlation with other crypto assets. While fans and communities purely drove some, others realized growing opportunities in the marketplace. Here we have listed the top 10 altcoins that have led the pack in overcoming the sideways action in the market:
Axie Infinity (AXS)
Axie Infinity made 370 million in sales in the last month, and its revenue increased 118x. Not only that, Axie outperformed other blockchains and Dapps like Ethereum and Uniswap. This NFT-based play-to-earn caught fire in June, and it kept hitting new all-time highs almost every single week. Axie Infinity’s growth is something we have never seen. At the beginning of the year, Axie’s monthly revenue was $100,000, and now- it just surpassed $23 million for the month of July.
Source- Axieworld
Axie is now the leading application in the entire NFT space. The platform did 20x the volume of NBA top shots in recent days, and the average purchase is doubling every single month.
NFT fans and communities realize Axie’s fundamentals are strong and believe it can thrive in any market situation. Even when top assets in the NFT world were depreciating, the native token of Axie Infinity- AXS- reflected a 378% surge in just 30 days.
Axie’s Tokenomics:
Market Cap- $1.2 Billion
Fully Diluted Market Cap- $5 Billion
Token Price- $18.74
Circulating Supply– 60,907,500 AXS
Constellation (DAG)
Constellation price has increased by 238% in the last month, and it is mainly due to the new wallet release and low transaction costs. DAG’s rapid rally took place once the project pivoted towards Defi. By launching a decentralized platform and growing the list of ecosystem partners, Constellation made significant developments in lowering costs and increasing throughput.
Source- Twitter
Constellation is proving to have strong fundamentals and use cases by partnering with Amazon Web services and US Air Force. We have also seen the protocols make some sector-related partnerships with Chainlink and KuCoin exchange. With that said, the scalable distributed network is one exciting project to watch out for.
DAG’s tokenomics:
Market Cap- $190 Million
Fully Diluted Market Cap- $561 Million
Token Price- $0.149
Circulating Supply- 1.27 Billion DAG
XinFin Network (XDC)
XDC network ROI has exceeded 450% and made significant improvements in the last couple of months. Being a hybrid blockchain with 2000 TPS and 2 seconds transaction time, the XDC chain is slowly getting its recognition in the crypto ecosystem. It reached its all-time high on April 2021 when it was trading at $0.141. Although the price prediction based on current sentiment shows a bearish cycle, it still outperformed other tokens by huge margins. It has given close to 50% returns in the last 30 days. When XDC interoperates with Ethereum, we can expect to see a similar rally.
XDC’s tokenomics-
Market Cap- $965 Million
Fully Diluted Market Cap- $2.9 Billion
Token Price- $0.07
Circulating Supply- 12.28 Billion XDC
Small Love Potion (SLP)
Small love potions are in-game items earned in the Axie Infinity game. In a way, it serves as experience points. As AXS captured all-time highs, the SLP token also hit ATH, reaching $0.39 per unit. With Axie Infinity leading the NFT craze, we see massive interest in buying more SLP tokens. Players want to participate more actively in the network and breed their Axies. As the game allows seven breeds, players are rushing to buy SLP on the open market. In the last 24 hours, the traditional volume increased by 25%, with Binance leading by more than $99 million.
SLP’s tokenomics:
Market Cap- $141 Million
Fully Diluted Market Cap- $142 Million
Token Price- $0.26
Circulating Supply- 541,173,609 SLP
Illuvium (ILV)
Illuvium is a blockchain-based game that offers high graphics and impressive gameplay. The open-world RPG has attracted thousands of traditional gamers to participate in the network and become a part of the community. In the last one month, the price of the native synthetic token- ILV increased by more than 100 dollars. It reached a new all-time high of $125, and the lowest price since was $90, so it is currently showing a bullish picture for the next cycle. Illuvium’s massive growth is mainly because play-to-earn games caught the attention of some major players worldwide.
ILV’s tokenomics-
Market Cap- $65 Million
Fully Diluted Market Cap- $1 Billion
Token Price- $100
Circulating Supply- 651,440 ilv
Dero (DERO)
Dero has picked up its pace recently and hit a new all-time high of $13.48. The price-performance is much better than blue-chip assets as it gave more than 50% returns in the last month. The lowest price since its ATH was $6, and it is currently trading at a price of $6.35. It shows a bearish picture in the short term, but it is still performing a lot better when compared to other tokens.
DERO’s tokenomics-
Market Cap- $68 Million
Fully Diluted Market Cap- $116 Million
Token Price- $6.35
Circulating Supply- 10,7267,362 DERO
The Sandbox (SAND)
The Sandbox enables users to create, buy, and sell digital assets in a whole different virtual world. By leveraging the powers of DAOs and NFTs, the Sandbox is a successful play-to-earn game. After seeing Axie Infinity’s massive growth, NFT users got hooked and we’re exploring more games. This allowed the company to build a thriving gaming community where players are actively participating. In terms of network growth and price performance, the native token- SAND increased by more than 70% in the last month.
DERO’s tokenomics-
Market Cap- $327 Million
Fully Diluted Market Cap- $1.4 Billion
Token Price- $0.46
Circulating Supply- 702,992,326 SAND
TomoChain (TOMO)
TomoChain is attempting to solve the scalability problem in the Ethereum network with its high TPS capacity. We have seen a huge uptick in all growth metrics for its native token- TOMO in the last few weeks. Trading volume is up 40% today, and network ROI shows a 10.36x increase. As the protocol comes with many use-cases such as private-chain generation and zero-free instant transactions, we can expect TomoChain to onboard more users in the future.
TOMO’s tokenomics-
Market Cap- $213 Million
Fully Diluted Market Cap- $258 Million
Token Price- $2.56
Circulating Supply- 83,533,912 TOMO
KuCoin Token (KCS)
KCS is one of those proprietary coins of cryptocurrency exchanges that serve the role of providing passive income. Although KuCoin failed to touch its previous all-time high, it is still performing relatively well when compared with similar blockchain projects. 24-hour trading increased by 50%, but the price of the token went down by 10%. We are still up by more than 15% and ahead of many top blue-chip assets if we compare the monthly figures.
KCS Tokenomics
Market Cap- $794 Million
Fully Diluted Market Cap- $1.68 Billion
Token Price- $9.9
Circulating Supply- 80,118,638 KCS
Stacks (STX)
Stacks is a layer-1 solution with the added functionality of a proof-of-transfer (PoX) mechanism. Recently, its native token, STX, made some moves to the upside and reached a cycle high of $1.46. It went up by more than 14% in the last 30 days, but it shows a bearish picture right now. It can be viewed as an opportunity to buy the dip and dollar-cost average or wait for the prices to go even lower.
STX Tokenomics
Market Cap- $1.2 Billion
Fully Diluted Market Cap- $1.8 Billion
Total Value Locked- $415 Million
Token Price- $1.02
Circulating Supply- 1.1B STX
Closing Thoughts
Top crypto assets are still consolidating for an extended period now, and that has opened up new opportunities for low-middle cap projects in the NFT and Defi ecosystem. Crypto investors and retail players are exploring new business models like play-to-earn, resulting in massive growth for some of these projects. While most of them are driven by hype and fan communities, we see the growth potential and strong fundamentals to back it up. It would be exciting to see what will happen once we overcome this sideways price action and trend upwards for a breakout. So make sure to keep an eye out for the above-listed projects.
Born and brought up in India, Karthikeya Gutta is a crypto journalist and freelance contributor for ItsBlockchain. He covers various aspects of the industry with in-depth analysis and research. His passion towards blockchain and crypto ecosystem is mainly because he believes it can really change the world and help millions of people.
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