The crypto space often sees exciting new projects launch that bring innovative technology, utility and solutions to the table. This article explores 10 rising newcomer cryptocurrencies from the past year that show significant promise and potential.
1. Aptos (APT)
Aptos is a new layer 1 blockchain built by former Meta engineers focused on scalability, security and usability. The Aptos mainnet launched in October 2022. With strong backing, Aptos aims to power the next generation of crypto applications as a viable alternative to Ethereum.
2. Stargate Finance (STG)
Stargate Finance brings advanced liquidity solutions to emerging non-EVM compatible layer 1 blockchains like Cosmos, Terra and Solana. As a cross-chain liquidity transfer protocol, Stargate allows assets to move frictionlessly between chains via pools and swaps.
3. GMX (GMX)
As a decentralized trading platform built on Arbitrum, GMX offers high-speed options, derivatives and futures trading for DeFi. With a protocol owned liquidity pool, GMX has seen rapid growth in daily trading volumes since its launch in early 2022.
4. Paraswap (PSP)
Paraswap is a leading decentralized exchange aggregator that finds the optimal swaps across multiple DEXs like Uniswap. Its PSP token aligns incentives around a multi-chain future while integrating key functionality.
5. ZeroSwap (ZEE)
ZeroSwap brings a unique multi-chain approach to creating liquidity and market making using ZEE tokens. The protocol aggregates DEXs across chains to source liquidity and enable frictionless trading. This emerging model shows promise.
6. AllianceBlock (ALBT)
AllianceBlock builds critical bridging infrastructure between decentralized and traditional finance. Its protocol integrates data, compliance tools and financial primitives to enable greater interoperability between DeFi and legacy systems in a regulated way.
7. CyberFi (CFi)
CyberFi is developing an intelligent automation platform for decentralized finance built on the Solana blockchain. Its Samurai V2 trading bot enables automation while its CFi token powers ecosystem governance in a community driven model.
8. Karura Network (KAR)
Karura is a Polkadot parachain designed as a DeFi hub offering decentralized financial applications like staking, liquidity, bridges and swaps with incredible speed and scalability. KAR has surged as Karura establishes itself.
9. Moonbeam Network (GLMR)
Moonbeam functions as an EVM compatible smart contract parachain on Polkadot specialized for interoperability. Its GLMR token provides on-chain governance for the rapidly growing Moonbeam developer and user community as adoption picks up.
10. Rocket Pool (RPL)
Rocket Pool aims to open up staking on Ethereum to users big and small through decentralized node management. Node operators that run Rocket Pool earn attractive staking rewards and RPL token incentives as adoption expands.
Conclusion
As the crypto ecosystem expands, promising new projects that solve problems, unbundle risk and unlock value continue emerging. Tracking and evaluating newcomers can help identify opportunities and promising technologies before they gain wider recognition in the months and years ahead.