Top analyst expects these altcoin gems on Avalanche are the next explosive coins
Popular crypto channel Altcoin Buzz shares with their subscribers 5 top projects on the Avalanche ecosystem with solid fundamentals to explode.
BenQi (QI) is a non-custodial liquidity market protocol, built on Avalanche. The protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol may earn passive income, while borrowers are able to borrow in an over-collateralized manner.
According to the trader, what makes BenQi one of the critical projects in the Avalanche ecosystem is that Ava Labs, the founding organization of Avalanche, is invested in the project.
Besides, despite BenQi is only a few months old but its TVL crossed USD 1.8 billion, which is one of the highest TVLs across all the platforms in Avalanche.
Trader Joe (JOE)
Trader Joe is a comprehensive AMM decentralized finance protocol built on the Avalanche blockchain, supporting Avalanche C-Chain tokens. Trader Joe is a combination of DEX and DeFi lending to provide leveraged trading and bring users a perfect trading experience with high speed and low cost.
“The platform is in the top 10 DEXs on Coingecko by trading volume.”
The crypto KOL highlights that one big reason for Trader Joe to explode is that Joe Rush, its Avalanche Rush DeFi incentive program:
“During the program, users can receive rewards by participating in selected liquidity pools, lending markets, and leveraged trading, a feature planned for an early Q4 release.”
Pangolin (PNG) is a community-driven decentralized exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees, and a democratic distribution–powered by Avalanche.
The project recently announced that a major tokenomics overhaul is coming: “This will reduce the max PNG supply by 57%, implement a more strategic emissions schedule, and add deflationary attributes to the PNG token.”
Yield Yak is an easy-to-use tool to earn more yield from DeFi farming on the Avalanche network. It is a community-driven project.
“The DeFi platform lets you automatically auto-compound instead of having to re-stake your assets manually from time to time to get the best APY.”
Besides, YieldYak has joined the Avalanche Rush program. Altcoin Buzz says that this means more progress on the development front, which is always suitable for a project and its token.
As for YAK token, the coin has already exploded 300% since August.
Snowball is a DeFi protocol running on the Avalanche blockchain. Like other platforms, Snowball offers a vast range of innovative products that benefit the ecosystem.
“There are many auto-compounders out there, but Snowball seems to be a better choice because you pay zero gas fees with Snowball. And by depositing into Snowball’s compounding strategies, you earn additional rewards in its native token, $SNOB. This means that you earn higher rewards than you would compounding by yourself,” the trader says.