Several top 100 altcoins have upside potential for the coming months. After gains on Bitcoin, Ethereum and BNB last week, it is the turn of other assets to perform. Discover Aave, Shiba Inu and Ecoterra. Why these projects could have potential in 2023?
Aave (AAVE): decentralized crypto borrowing and lending
Over the past three years, Aave has established itself as one of the reference protocols for decentralized crypto loans. Its landing ecosystem has continuously grown and improved over time.
Aave allows its users to borrow and lend a panel of cryptocurrencies through several different services. Many lenders lock their assets into the protocol (staking), making Aave the 3rd largest decentralized finance (DeFi) project in terms of TVL (Total Value Locked). The AAVE token allows holders to benefit from reduced fees on the platform and also serves as a governance token.
Aave continues to gain popularity in DeFi thanks to its features and its user-friendly interface. The platform has remained competitive on several points: support for new crypto-assets and new features such as Flash loans. The latter allows users to borrow large sums of money without any collateral, as long as the loan is repaid in a single transaction.
Aave works on multiple blockchains such as Ethereum, Polygon, Avalanche, Optimism and Arbitrum. In February, the project launched a stablecoin that could drive cryptocurrency adoption and possibly increase interest in Aave.
The project is considered an interesting landing protocol on the market. It is ranked 48ᵉ in the CoinMarketCap ranking and its market capitalization is $1.1 billion.
Shiba Inu (SHIB): the second memecoin on the market
Shiba Inu emerged as a possible competitor to Dogecoin in the 2021 bull run. Competing with Dogecoin, it is gaining popularity and its capitalization explodes after several tweets from Elon Musk and Vitalik Buterin. V. Buterin has long been considered the creator of Shiba Inu, but denied these rumors during a podcast by Lex Fridman on June 5, 2021.
In addition to being a memecoin, this cryptocurrency has several strings to its bow. It has its own ecosystem at the origin of tokens like $TREES, $BONE and $LEASH. Thanks to Shibarium Layer 2transaction fees have recently decreased when using blockchain.
The project is also evolving its virtual experience with the Shiba Inu Metaverse. Crypto games and NFTs are growing in popularity. The project team intends to add its stone to the building with gaming partnerships and NFT launches.
Here are some of the benefits of Shiba Inu and what makes it a cryptocurrency to look into:
- Shiba Inu has scaling technology;
- THE Metaverse Shiba Inu is becoming more and more popular in the ecosystem.
The project is considered the second largest memecoin on the market. It is in 17th place in the ranking with a capitalization of 6.91 billion dollars.
Ecoterra (ECOTERRA): a project that fights against global warming
Ecoterra is blockchain-based and uses the concept of Recycle-to-Earn to tackle one of today’s biggest problems: climate change.
The app allows users to earn tokens ECOTERRA by recycling materials and objects. The tokens can then be sold, held or blocked to generate passive income.
ECOTERRA tokens can also be spent to tackle the climate crisis, either by financing projects such as cleaning up the oceans or planting trees, or by buying carbon credits. These contribute to the elimination of CO2 in the atmosphere. The project has already partnered with Ahold Delhaize Group, which operates more than 2,000 supermarkets in the United States.
To get rewards, users must deposit recyclable items such as plastic bottles or cardboard boxes in reverse vending machines (RVM).
They are usually found in supermarkets or big box stores. They then scan the object, which has a predefined value on the mobile app, and deposit it into the RVM to receive their tokens.
In addition to the concept of Recycle-to-Earn (R2E), Ecoterra has a marketplace that connects individuals and professionals on the theme of recycling. There presale of ECOTERRA has already started and the token is on sale for $0.0055. It will drop to $0.01 in the final phase. Half of the maximum token supply (2 billion) is put up for sale during the presale.
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