Finance

Who will win among Aave, Meme Moguls, & Injective?

10 months ago
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While Aave and Injective have already made their mark in the market, Meme Moguls is a fresh face, currently in its highly anticipated presale phase. The question that arises: Who will give the most gains in 2024? Let’s delve into what sets these three projects apart and what we can expect from them this year.

Meme Moguls: A P2E platform with a difference

Meme Moguls is an innovative Play-to-Earn (P2E) platform that combines the world of memes with the rewards of stock market trading, all built on the Ethereum blockchain.

It offers a unique gaming experience where players use virtual cash to trade in a meme-themed stock market. Players can learn from the game’s extensive educational resources and engage with the community to make informed trading decisions.

The great thing is that your in-game earnings can be converted into real-world rewards. Whether MGLS tokens or rare NFTs, Meme Moguls offers rewards that can be redeemed in the in-game marketplace or sold on external exchanges.

MGLS tokens will also play a role in governance and are used to vote on the game’s future direction. Those holding MGLS can also stake inside the Mogul Land metaverse to earn even more rewards.

The current price of $0.0036 represents an FDV (fully diluted valuation) of $8.10 million, which is a drop in the ocean of the $23+ billion meme market. However, this price will rise any day now, as stage five of the presale sells fast.

As Meme Moguls gears up for listing on major exchanges post-presale, analysts predict it could be the next big thing to hit the P2E gaming market. Gains of 50x or more are not out of the question for early investors in this project.

Aave’s continuous rise in the DeFi space

Aave is a decentralized finance (DeFi) protocol that allows users to lend and borrow cryptocurrencies. It was launched in 2017 but gained mainstream attention during the DeFi boom in 2020/21.

The platform offers many features, including flash loans, stablecoin swaps, and collateralized borrowing. Users can also earn interest on their deposits and participate in governance through the AAVE token.

Aave has a total value locked (TVL) of $7.73 billion, which has spiked more than 100% from the TVL figure of January 2023. This statistic makes Aave the largest lending protocol on Ethereum and one of the top DeFi projects in the space.

The price of Aave has rallied from just $57 in early September 2023 to a recent peak of $129 — a gain of 126% in just four months. While the price has corrected to $110 today, the consolidation below the $120 resistance zone indicates a breakout any day now.

There is a consensus that Aave will hit $2,000 before the end of 2024. Such a surge would put Aave’s market capitalization at $31.80 million, a realistic possibility given the growing institutional interest in DeFi.

Can Injective (INJ) reach $1,000 in 2024?

Injective is a Layer-1 blockchain explicitly built for decentralized finance. The goal of Injective is to be the foundation for all Web3 financial requirements, including perp trading, liquid staking, launchpads, RWAs, and NFTfi.

One of the most impressive features of Injective is the automated smart contracts that promote order book management, efficient order matching, rapid transaction settlements, and low fees.

The INJ token has jumped from $1.30 in January 2023 to a current price of $39.31 — a gain of more than 2,923% in just one year. The fully diluted valuation of $3.9B leaves plenty more room for growth as the ecosystem expands throughout 2024.

Some bullish analysts believe that Injective can reach a valuation of at least $50B in 2024 if it continues its current growth trajectory, which would mean a token price of $500. Reaching $1,000 in 2024 is likely a step too far.

One major catalyst that could help reach this target is the ongoing swarm of projects launching on Injective and conducting airdrops to those staking INJ. We already witness massive amounts of INJ being locked up to participate in these airdrops.

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Source: https://www.cryptonewsz.com/who-will-win-among-aave-meme-moguls-and-injective/