In a second consecutive week of relative calm, the total market capitalization of the cryptocurrency industry dipped slightly from $874 billion to around $870 billion. Nearly all top-three non-stablecoin cryptocurrencies saw minimal price movement, with shifts of less than 1% compared to the beginning of the week.
Only six cryptocurrencies within the top 100 recorded weekly gains exceeding 10%, including CEL (Celsius Network), AXS (Axie Infinity), STX (Stacks), FTT (FTX Token), EOS, and APE (ApeCoin). While the broader market appears stagnant, opportunities still exist for those who know where to look. This article highlights three promising tokens worth monitoring.
What Is DeFiChain?
DeFiChain is a Proof-of-Stake (PoS) blockchain anchored to the Bitcoin network. It combines the efficiency and speed of PoS with the robust security of Bitcoin’s Proof-of-Work (PoW) infrastructure. Launched in May 2020, DeFiChain aims to bring smart contracts and decentralized finance (DeFi) capabilities to the Bitcoin ecosystem.
Users on DeFiChain can create wrapped assets and mint decentralized tokens (dTokens). Common wrapped assets include cryptocurrencies like Bitcoin and Ethereum (dBTC, dETH), but the platform also supports tokenized equities and real-world assets such as stocks, precious metals, and real estate. DFI serves as the native utility and governance token of the platform.
Grand Central Hard Fork Introduces On-Chain Governance
On December 8, DeFiChain underwent a significant governance-focused upgrade known as the Grand Central hard fork. Triggered at block height 2,479,000, this update marked a major step forward in the ecosystem’s evolution.
The upgrade also introduced the DeFiChain Alliance, a consortium designed to ensure that all decentralized digital assets issued on DeFiChain are fully backed at a 1:1 ratio. The alliance holds the authority to mint new tokens or, more importantly, burn them—preventing the over-issuance of assets. This added layer of transparency and security helps protect against undercollateralization and supports the value of DFI, which is currently trading around $0.47.
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Understanding Axie Infinity (AXS)
Axie Infinity is a blockchain-based trading and battling game inspired by Pokémon. Developed by Vietnamese studio Sky Mavis, the game has generated over $2 billion in NFT sales. Players use AXS and Small Love Potion (SLP)—two Ethereum-based tokens—to breed, trade, and battle with virtual creatures known as Axies, each represented by a unique NFT. A growing user base and substantial protocol revenue have made Axie Infinity one of the most valuable NFT projects in the crypto space.
Axie Contributor Program and Upcoming Core Upgrade
Recent announcements regarding the Axie Contributor Program and the upcoming Axie Core upgrade have renewed market interest in AXS.
The Axie Contributor Program represents the project’s ongoing effort to decentralize its ecosystem. Nearly 700 community members, known as Lunacians, were selected to participate in the pilot season of the program. Participants receive access to exclusive Discord channels and governance features. The next phase involves forming community committees that will play an important role in guiding the project’s development.
On December 5, Axie Infinity released a preview of the Axie Core upgrade, which will introduce advanced gameplay mechanics such as equipment upgrades, an immersive breeding interface, and new interactions like feeding and petting Axies. The announcement was met with enthusiasm—the following day, Axie NFT trading volume surged by 800% to over $10.4 million, and the price of AXS increased by more than 30%.
An Overview of EOS
EOS is a blockchain platform that enables the deployment of smart contracts, decentralized applications (DApps), and custom tokens. Following a record-breaking ICO that raised over $4 billion, EOS launched its mainnet in June 2018. While it competes with platforms like Ethereum, TRON, and Solana, EOS aims to differentiate itself through superior scalability and faster transaction speeds. The network uses a Delegated Proof-of-Stake (DPoS) consensus model and can handle over 3,000 transactions per second (TPS).
Binance Integrates EOS-Based USDT
Last week, Binance announced the integration of USDT on the EOS network. This allows Binance users to deposit and withdraw Tether (USDT) directly on EOS without relying on third-party bridges or converting assets.
The EOS Network Foundation emphasized that this achievement is the result of extensive effort and expressed hope that smoother access will attract more liquidity to the EOS ecosystem. The foundation aims to position EOS as the preferred network for USDT transactions due to its speed, security, low cost, and energy efficiency.
In addition to the Binance integration, the EOS Network Foundation (ENF) recently unveiled a $100 million ecosystem fund in November. The fund will be managed by EOS Network Ventures (ENV), an independent entity focused on strategic equity and token-based investments in Web3 sectors such as GameFi, the metaverse, esports, NFTs, and fintech projects built on EOS. Oversight will be provided by EOS network validators to prevent conflicts of interest.
These developments contributed to a 12% price increase for EOS last week, placing it among the top weekly gainers.
Frequently Asked Questions
What is DeFiChain?
DeFiChain is a Bitcoin-anchored blockchain that brings DeFi applications and smart contracts to the Bitcoin ecosystem. It enables users to mint dTokens representing cryptocurrencies, stocks, and other real-world assets.
How does the Axie Contributor Program work?
The Axie Contributor Program engages community members in governance and development. Selected participants help shape the ecosystem through committees and gain early access to new features and discussions.
Why did EOS price increase recently?
EOS price saw a significant boost after Binance integrated EOS-based USDT, simplifying deposits and withdrawals. The recent announcement of a $100 million ecosystem fund also increased investor confidence.
What are dTokens?
dTokens are decentralized tokens minted on DeFiChain that represent real-world assets like cryptocurrencies, equities, or commodities. They are always backed 1:1 by their underlying assets.
Is Axie Infinity still popular?
Yes, Axie Infinity remains one of the leading NFT-based games. Recent upgrades and community initiatives have rejuvenated user engagement and trading activity.
How is EOS different from Ethereum?
EOS uses a Delegated Proof-of-Stake consensus mechanism, enabling faster and cheaper transactions compared to Ethereum’s Proof-of-Work model. However, Ethereum has a larger ecosystem and more developer activity.
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Please note: This content is for informational purposes only and is not intended as investment advice. Cryptocurrency investments are volatile and high-risk; always conduct your own research before investing.