/Elluminex/ – The crypto markets are entering a new phase, as the bull run continues. With Bitcoin stabilizing above $100,000, traders are pointing to the start of the next altcoin season.
Several altcoins could lead the next rally, and there has been significant buzz around a few. Recently, there has been a lot of excitement around Dogwifhat (WIF), Bonk, and Elluminex (ELX).
Solana-based memecoin Dogwifhat (WIF) was one of the top performers last year. Still, it saw significant volatility during that time, with significant ups and downs. Still, traders believe in its potential.
Just last November, Dogwifhat was trading above $4. Since then, it saw a brief rally in December, before starting to crash. For traders that got in then, Dogwifhat’s performance looks bleak. Not so for those who got in earlier. Namely, at its current price of $1.44, WIF saw a year-to-year gain of 379.08%.
When it comes to meme coins like Dogwifhat, volatility comes with the territory. Despite this, analysts see significant potential with the token. One of the reasons for this assessment is the current excitement over Solana meme coins.
The launch of the first-ever meme coin by a US President took everyone by surprise. What is even more exciting for Dogwifhat is that Donald Trump launched its Official Trump (TRUMP) token on Solana. This move cemented the chain as the main meme coin hub, and will likely boost Solana meme coins.
Another Solana meme coin set to benefit from the current environment is Bonk. Just like WIF, Bonk had a strong showing last year, also coupled with volatility. During the latest bull run in November, the token reached its ATH at $0.00005916.
Despite correcting to $0.00003239, Bonk is still up 189.59% yearly. Its performance enabled it to cement its position among other Solana-based tokens. This was until a new entrant came into the market. Before the launch of the TRUMP token, Bonk was the dominant meme coin on the chain. Now, TRUMP is way ahead, with $8.4 billion in market cap compared to Bonk’s $2.4 billion.
Still, the excitement over Solana meme coins will likely boost all of them. Bonk is still in a strong place in rankings, and will likely stay near the top.
While Dogwifhat (WIF) and Bonk rode the Solana meme coin rally, another project is set to take advantage of the altcoin season. Unlike Wif and Bonk, which are meme coins, Elluminex (ELX) is building a platform on top of the fastest-growing blockchain.
Elluminex is positioning itself as the leading DeFi Hub for TON, the fastest-growing network. Last year, TON’s total value locked (TVL) rose 800%, with a similar increase in trading activity. This was due to its deep integration with the Telegram messenger, which has over 950 million active users.
Elluminex hopes to take advantage of this by offering TON much-needed liquidity to fuel its growth. Despite its expansive ecosystem of dApps, TON has a relatively underdeveloped DeFi landscape. This is what Elluminex is trying to solve. Notably, Elluminex will offer a DEX exchange enabling cross-chain swaps to 40 blockchains.
Thanks to these Elluminex’s token bridges, TON will gain access to liquidity from most major chains. This will help reduce slippage on Elluminex, and also stabilize prices in TON’s ecosystem. Both of these factors will boost investor confidence, helping both TON and Elluminex achieve substantial ROIs.
For more information about Elluminex (ELX) visit the links: Website, Twitter/X, Telegram.
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