Beneath the Surface: Promising Blockchain Tokens for End of 2024

Top Crypto Projects of 2024: Agoric, Osmosis, Axelar & Injective

With a market cap currently valued at $2.15 trillion and still growing, the blockchain and crypto industry offers significant rewards for users and savvy investors. Over the years, the industry has successfully attracted innovative builders and launched interesting projects and tokens. For people looking for long-term profitability, identifying promising tokens early on remains one of the most reliable strategies.

Let's explore a few promising projects pushing boundaries in crypto with forward-thinking tokens with potential. 

Agoric ($BLD): A New Approach to Cross-Chain Development

Agoric, a prominent project in the Cosmos ecosystem, enables the development of cross-chain smart contracts using JavaScript, the world’s most widely used programming language. This lowers the barrier for blockchain development, making it accessible to millions of developers and opening new doors for decentralized applications (dApps) and smart contracts. A Stack Overflow report reveals that JavaScript remains the most popular programming language among developers worldwide. Agoric's ability to tap into this talent pool could quicken the development of dApps and other blockchain-based solutions, accelerating the growth of its ecosystem.

As of writing, Agoric’s BLD token has shown resilience, recovering from its all-time low of $0.03706 earlier this year and is now trading at around $0.043 on Coinmarketcap. While this is below its all-time high of $0.75, Agoric's innovative approach and growing ecosystem make it a promising investment for those looking to capitalize on the potential of cross-chain development.

A recent big development for Agoric is the launch of its Orchestration API on mainnet in October 2024. This API simplifies multi-chain operations, allowing developers to automate tasks like cross-chain staking, asset transfers, and other complex workflows with ease. By turning previously complex processes into streamlined, one-click operations, Agoric strengthens its appeal to the broader development community. The recent listing of $BLD on exchanges like BitMart has also increased market access and liquidity, providing more exposure to investors.

Agoric’s dual-token model uses $BLD for staking and governance, and $IST as its stablecoin. Together, these tokens support Agoric's mission to create seamless cross-chain transactions and a scalable DeFi economy. As more developers use Agoric’s tools for cross-chain DeFi solutions, demand for $BLD will likely increase, driving its utility as a governance and staking token. With innovations like the Orchestration API and Zoe, Agoric makes it easier to create secure smart contracts that operate across multiple blockchains, unlocking new possibilities in DeFi.

Osmosis ($OSMO): Enhancing Liquidity in the Cosmos Ecosystem

Osmosis is another crucial player in the Cosmos ecosystem, acting as a decentralized exchange (DEX) and automated market maker (AMM) that facilitates token swaps across multiple blockchains using Inter-Blockchain Communication (IBC). As cross-chain interactions become more critical to the future of DeFi, Osmosis's role in providing liquidity across blockchains is indispensable.

Osmosis has recently rolled out significant upgrades, improving its AMM capabilities and further integrating with various Cosmos-based projects. As stated in DeFi Llama, the total value locked (TVL) on Osmosis has increased by 10.2% in the past month, reaching $260 million. The OSMO token is trading at $0.55,  as seen on CoinMarketCap. 

This growth indicates growing confidence in the platform and its ability to attract liquidity. Osmosis is a vital liquidity hub for the Cosmos ecosystem, focusing on governance advancements and more efficient cross-chain integrations. The continuous development in its ecosystem makes $OSMO a token worth watching closely.

Axelar ($AXL): Connecting Blockchains for a Unified Web3 Experience

Axelar addresses one of the most pressing challenges in blockchain today: cross-chain communication. Its General Message Passing (GMP) system powers decentralized applications, allowing dApps to communicate across multiple blockchains seamlessly. This technology enables the efficient movement of assets and data between platforms like Cosmos and Ethereum, solving the liquidity fragmentation issues plaguing the DeFi space.

As of October 2024, Axelar's AXL token is trading at $0.78,  as seen on CoinMarketCap. While it has experienced significant price fluctuations in recent months, Axelar's strong fundamentals and growing ecosystem make it a promising investment for those looking to capitalize on the potential of cross-chain infrastructure.

Axelar's key advantage lies in its ability to unify various blockchains into one cohesive network, providing developers with tools to build more robust, scalable applications. Based on this report, the number of dApps built on Axelar has increased by 25% in the past year, highlighting its growing popularity among developers. With growing integrations in the Cosmos and Ethereum ecosystems, Axelar is set to become a critical player in Web3, making the $AXL token an exciting prospect for investors keen on cross-chain solutions.

Injective Protocol ($INJ): Pioneering DeFi Derivatives

Injective Protocol is revolutionizing decentralized finance by enabling the trading of complex financial products, such as derivatives, in a decentralized manner. Its fully decentralized exchange (DEX) allows users to trade perpetual, futures, and other financial instruments without relying on centralized entities.

As of writing, Injective's INJ token is trading at $21.56, according to CoinMarketCap. While it has experienced some volatility, Injective's innovative approach to DeFi derivatives and growing partnerships make it a promising investment for those seeking exposure to this rapidly evolving sector.

Furthermore, recent partnerships with prominent DeFi projects have expanded Injective's reach, and its ability to handle complex financial contracts positions it as a leader in the DeFi derivatives space. As seen on CoinGecko, the trading volume on Injective has increased by 15% in the past quarter, demonstrating strong user interest in its platform. As DeFi grows in scope and sophistication, Injective's $INJ token is expected to increase demand, making it one of the most exciting tokens to watch in 2024.

Conclusion

The cryptocurrency landscape in 2024 presents a wealth of opportunities for those willing to look further than the well-known tokens. Projects like Agoric, Osmosis, Axelar, and Injective Protocol address technological challenges in blockchain, enhancing cross-chain liquidity, simplifying smart contract development, or enabling complex DeFi derivatives.

While these tokens may be undervalued, their innovative approaches and growing ecosystems point to significant potential for growth soon. As always, investors should research and remain aware of the inherent risks in the volatile crypto space. For those looking for the next big thing in blockchain technology, these projects are worth keeping on the radar.