Despite facing skepticism due to slow delivery and unclear business models, VC coins are gradually revealing their long-term potential and are starting to dominate the market. Compared to the short-term speculation of Meme coins, value coins demonstrate a more stable growth outlook through technology and practicality.

Written by: Alvis, Mars Finance

In the past month of the crypto market, as Bitcoin broke through $69,000, VC value coins have made a significant comeback. Major projects have frequently updated, as if holding their cards close to their chest, only for the market to see—wow, the rise is even stronger than expected! From the mainnet launch of Worldcoin to Uniswap's Layer 2 expansion chain Unichain, and the launch of ApeCoin on ApeChain and its cross-chain bridge, value coins have continuously delivered hard-hitting actions. In just a few weeks, the market has seen a surge that is simply crazier than most Meme coins.

The drama of this market trend lies in the fact that everyone initially thought Meme coins would still be the main characters, crushing the market with speculation and short-term surges. Instead, these seemingly "slow-burning" projects of value coins have turned the tables through solid technology and ecological implementation, with VC coins making a comeback and skyrocketing. This operation, from a technical "foundation" to price takeoff, feels like a silent counterattack from VC projects against Meme coins.

The glory of Meme coins remains fleeting, like a soulless feast that fades into mediocrity after a show of strength. In contrast, value coins are gradually dominating the market through the expansion of multi-chain ecosystems, substantial DeFi functionalities, and further improvements in infrastructure. Rather than relying on emotional speculation, they depend on hard power. Is it a short-term carnival or a long-term dominance? It seems that value coins are gradually reclaiming the "throne" of the market.

Why did VC coins face FUD in the past?

The FUD faced by VC coins in the past mainly stemmed from the following defects:

• Slow delivery: Many projects supported by VC involve complex infrastructure construction and have long R&D cycles. This has led to many projects securing early financing but failing to launch usable products or services in the short term, severely lagging behind the market's high expectations.
• Unclear business models: Even for technically advanced projects, many VC coins still lack clear business models. Project teams often fail to timely launch products and services that can continuously generate profits, leading to unclear token value representation. For example, some VC project token designs do not provide investors with a long-term value capture mechanism.
• Weak token economic models: Many tokens of VC-supported projects only serve as transaction fees within the ecosystem and do not participate in governance or reward mechanisms. Due to limited demand, the market performance of such tokens struggles to support high valuations, causing investors to gradually lose confidence.

Reigniting VC coins: Practicality and long-term value

Despite facing numerous challenges, VC coins do not lack value. On the contrary, many VC-supported projects demonstrate long-term potential through clear technological foundations, strong ecological support, and practical application scenarios. Here are several aspects worth noting:

• Practicality and technological support: Many value coins are accompanied by strong technological innovations. For example, Uniswap's technological innovations in the DeFi field (such as the automated market maker mechanism) have propelled the development of decentralized finance. Sui, through the unique design of the Move language, has improved transaction speed and security, attracting developers in the DeFi and NFT fields.
• Extensive ecosystem: Many value coins have broad application scenarios, such as multiple decentralized lending platforms in the Sui network, like Suilend, showcasing its ecological expansion capabilities in the DeFi field. Similarly, ApeCoin has built a multi-chain ecosystem by launching a cross-chain bridge and DeFi functionalities.
• Long-term development potential: The true advantage of value coins lies in their long-term sustainability. For instance, Uniswap's Layer 2 expansion chain Unichain is dedicated to solving the scalability issues of the Ethereum network and enhancing network security through staking mechanisms. As these projects gradually materialize, the long-term value of VC coins will be released.
• Relatively stable market: Value coins exhibit lower volatility compared to Meme coins, making them suitable for long-term investors. While Meme coins can bring huge returns in the short term, their market volatility is severe and easily influenced by emotions and market manipulation. In contrast, value coins, backed by practical application scenarios and technological support, experience smaller price fluctuations and possess better resilience against declines.

The rise of value coins: Analysis of 8 projects

As the market gradually returns to rationality, some technologically advanced projects are showcasing tremendous potential. Here are 8 recent value coin projects worth paying attention to, whose technological foundations, ecological expansions, and market performances illustrate the potential of value coins:

1. ApeCoin (APE): From Meme Coin to DeFi Bridge

• Introduction: ApeCoin is a token launched by the Bored Ape Yacht Club (BAYC) aimed at supporting the BAYC community and its related DeFi and NFT ecosystem. With the launch of ApeChain and the cross-chain bridge, APE is gradually transforming into a key player in the multi-chain ecosystem. APE, as the native gas token of ApeChain, is providing crucial support for cross-chain transactions.
• Current circulation: The total supply of ApeCoin is 1 billion, with approximately 753 million tokens currently in circulation, and the token unlocking speed is gradually slowing down.
• Price changes: In the past month, the price of ApeCoin has risen from $0.74 to $1.68, an increase of over 127%.
• Future potential analysis: The initial popularity of ApeCoin stemmed from its cultural connection with the Bored Ape Yacht Club, but in the long run, relying solely on culture and community speculation is insufficient to support steady price growth.
• On October 20, ApeChain and its official cross-chain bridge announced their launch, and according to market information, the first batch of meme coins issued in its ecosystem saw a price surge. ApeCoin's official statement indicated that stablecoins crossing to ApeChain would be converted to DAI and deposited into sDAI, accumulating returns based on MakerDAO's savings rate. Meanwhile, LayerZero also announced that it has launched on the ApeChain mainnet and has become its standardized interoperability provider.

The launch of ApeChain and the cross-chain bridge provides APE with substantial application scenarios, especially in its role as a gas token within the multi-chain DeFi ecosystem, giving it certain growth potential for the future. Additionally, LayerZero's cross-chain technology allows APE to be seamlessly transferred across multiple blockchains, enhancing the token's practicality and liquidity. Overall, the future upward momentum of ApeCoin depends on the development of its cross-chain ecosystem and its ability to continuously launch valuable application scenarios. If the ApeChain ecosystem can continue to grow and attract more developers and projects, APE has significant upward potential.

2. Uniswap (UNI): The Core Engine of Decentralized Finance

• Introduction: Uniswap is a leading project in the DeFi field, utilizing an automated market maker (AMM) model that greatly simplifies the process of decentralized trading. Uniswap's technological innovations, such as liquidity aggregators and Layer 2 solutions, have propelled the development of DeFi.
• Current circulation: The total supply of UNI is 1 billion, with a current market circulation of 600 million tokens, and the remaining tokens will be gradually released according to a linear unlocking mechanism.
• Price changes: Over the past month, UNI has risen from $5.5 to $7.6, an increase of approximately 38%, primarily benefiting from the launch of the Unichain testnet.
• Future potential analysis: Currently, it has become a leading project in the DeFi field, with its market capitalization and trading volume consistently remaining high.

On October 10, Uniswap Labs announced the launch of Unichain, stating that after years of building and expanding DeFi products, they recognized areas for improvement in DeFi and the conditions needed to continue advancing the Ethereum scalability roadmap. Unichain is a fast, decentralized Optimism superchain L2, aimed at becoming the chain for cross-chain DeFi and liquidity.

The launch of Unichain as a Layer 2 expansion chain marks that Uniswap is accelerating its pace of technological innovation, aiming to solve the scalability issues of the Ethereum network. This provides technical support for UNI's future price increase. Additionally, Uniswap is continuously expanding its liquidity aggregator and cross-chain trading functionalities. In the future, as Layer 2 becomes more widespread, the reduction in trading costs and the increase in processing speed will further enhance its competitiveness. Due to Uniswap's dominant position in DeFi and ongoing technological innovations, UNI has long-term upward potential, although short-term volatility still exists.

3. Sui (SUI): High-Performance Blockchain and DeFi Innovator

• Introduction: Sui is a high-performance blockchain built on the Move language, focusing on supporting DeFi and NFT. Its innovative design and strong technical performance have allowed it to rise rapidly in the decentralized application field.
• Current circulation: The total supply of Sui is 10 billion, with approximately 2.7 billion tokens currently in circulation, and the token unlocking pace is steady, avoiding market sell pressure.
• Price changes: The price of SUI has risen from $1.80 to $2.10 in the past month, an increase of 16.7%, primarily benefiting from support from major institutions, integration with USDC, and the launch of decentralized lending platforms.
• Future potential analysis: Sui's technical advantage lies in its architecture based on the Move language, which provides it with high scalability and security, especially in the DeFi and NFT markets.

On September 12, Grayscale announced that its Sui Trust has opened to qualified investors seeking to invest in SUI.

On September 17, SUI partnered with Circle to introduce native USDC, further enhancing its application potential in decentralized finance.

In addition, the launch of decentralized lending platforms like Suilend has significantly increased DeFi activity within the Sui ecosystem, with TVL continuously rising, showcasing its strong development momentum. Sui's innovative technology and ever-expanding DeFi ecosystem give it long-term upward potential, but the key to the future lies in its ability to attract more developers and users to participate.

4. Jupiter (JUP): Liquidity Provider in the Solana Ecosystem

• Introduction: Jupiter is a decentralized trading aggregator within the Solana ecosystem, becoming a liquidity bridge by providing users with optimal trading paths and low-slippage trading experiences. Jupiter integrates various liquidity sources within the Solana ecosystem, helping users complete transactions at the best prices, and has also launched a mobile application to further enhance user experience.
• Current circulation: The total supply of Jupiter is 10 billion tokens, of which approximately 1.35 billion are in circulation. As Jupiter's liquidity management capabilities continue to improve, token demand has also increased, with tokens for team and community staking rewards gradually unlocking, enhancing token liquidity.
• Price changes: In the past month, the price of JUP tokens has risen from $0.70 to $1.00, an increase of about 42%. The main drivers of the price increase are the expansion of the Solana ecosystem and improvements in liquidity aggregation on the Jupiter platform.
• Future potential analysis: On September 20, the Solana ecosystem DEX aggregator Jupiter released multiple updates, and in October, it successively launched a mobile application, email newsletter, and DAO website to further enhance user experience.

The future performance of JUP largely depends on the development of the Solana ecosystem. If Solana's technical issues can be effectively resolved, JUP is expected to welcome new growth opportunities. If the Solana ecosystem continues to expand, the JUP token is likely to rise accordingly, but caution is needed regarding the technical and market risks of the Solana network.

5. Bittensor (TAO): Pioneer of Decentralized Computing Networks

• Introduction: Bittensor is a decentralized machine learning network aimed at promoting the development of Web3 and AI by providing decentralized computing resources. Bittensor offers a GPU-based computing rental platform where users can rent computing resources by paying with TAO tokens, and participants in the Bittensor network can earn TAO tokens by sharing computing power.
• Current circulation: The total supply of TAO tokens is 21 million, with approximately 7.38 million currently in circulation. The remaining tokens are gradually entering the market for rental payments of computing resources. Since the liquidity of TAO primarily depends on the demand for computing within the network, the growth of the Bittensor project will directly impact the demand for TAO tokens.
• Price changes: In the past month, the price of TAO has risen from $250 to $575, an increase of 130%. The price increase is mainly due to Grayscale launching the Bittensor Trust, while the rising demand for decentralized computing resources has also boosted market demand for TAO.
• Future potential analysis: Bittensor's innovative model combines blockchain with decentralized computing resources, especially in the Web3 field, where the rise of compute-intensive applications will drive demand for the Bittensor network. The TAO token, as a payment tool within the Bittensor ecosystem, is expected to see sustained growth in demand as the network expands. The launch of Grayscale's Bittensor Trust further enhances market confidence in TAO. With the continuous development of the Web3 ecosystem, the TAO token has significant upward potential, especially against the backdrop of increasing demand for decentralized computing resources.

6. dYdX (DYDX): Giant in the Decentralized Derivatives Market

• Introduction: dYdX is a leader in the decentralized derivatives market, focusing on providing users with decentralized perpetual contracts and leveraged trading services. Its permissionless architecture and efficient order book system provide users with a highly transparent trading environment, attracting a large number of institutions and high-frequency traders.
• Current circulation: The total supply of DYDX tokens is 400 million, with approximately 220 million currently in circulation. The tokens for the team and investors are subject to a gradual unlocking mechanism to ensure that the market does not experience severe fluctuations due to a large influx of tokens.
• Price changes: In the past month, the price of DYDX has risen from $0.80 to $1.25, an increase of over 56%. The market confidence in dYdX has been boosted following the return of founder Antonio Juliano, and the expansion of platform functionalities and trading volume has further driven the token price.
• Future potential analysis: dYdX's leading position in the decentralized derivatives trading market is unshakeable. Its technical architecture and product features are highly favored by institutions and large traders. With the return of founder Antonio Juliano, dYdX's strategic direction has become clearer, and it is expected to continue strengthening its derivatives trading functionalities in the future.

On October 20, Charles d'Haussy, CEO of the dYdX Foundation, posted on social media stating, "At tomorrow's dYdX Day event, speakers will reveal secrets about the moat, Trojan horse, and flywheel."

Additionally, the transparency and trustless nature of decentralized exchanges provide them with long-term growth potential. As the leader in decentralized derivatives trading platforms, dYdX has significant growth potential in the long term, especially as the derivatives market continues to expand in the future.

7. SushiSwap (SUSHI): Innovative Force in the DeFi Field

• Introduction: SushiSwap is an innovative pioneer in the DeFi field, originally a fork of Uniswap, but has gradually established an independent position in the DeFi space through technological innovation and expansion. SushiSwap offers features such as liquidity mining and leveraged trading, and has formed a broad user base through its unique product design.
• Current circulation: The total supply of SUSHI is 250 million, with approximately 140 million currently in circulation. The tokens for the team and early investors are gradually unlocking, and the market demand for tokens has been further enhanced through staking incentives and liquidity mining.
• Price changes: In the past month, the price of SUSHI has risen from $0.52 to $0.80, an increase of about 53%. This increase is mainly due to expectations surrounding SushiSwap's technological upgrades and strategic acquisition plans.
• Future potential analysis: On October 21, Jared Grey, CEO of Sushi Labs, posted on X, stating that Sushi has surpassed major aggregators on competitive networks in key metrics such as price, gas, and latency, and that aggregation volume is steadily increasing month by month. Sushi is about to announce a strategic acquisition that will enable it to introduce built-in innovative DeFi primitives into AMM and perps verticals.

Its latest technological upgrades and strategic acquisition plans demonstrate the SushiSwap team's ambition in the future DeFi landscape. The future performance of the SUSHI token largely depends on whether these innovations can successfully translate into practical applications and liquidity growth. Through technological innovation and expansion, SushiSwap continues to enhance its competitiveness in the DeFi market, and in the long run, the SUSHI token has upward potential.

8. Worldcoin (WLD): Attempts at Identity Verification and Web3 Infrastructure

• Introduction: Worldcoin is a global identity verification and Web3 infrastructure project supported by OpenAI founder Sam Altman. Worldcoin provides global digital identity verification through World ID, utilizing a decentralized identity system to offer users real identity verification services. Its Layer 2 network, World Chain, is built on Optimism, supports cross-chain transactions, and collaborates with several well-known projects (such as Uniswap, Etherscan, etc.).
• Current circulation: The total supply of WLD tokens is 10 billion, with approximately 550 million currently in circulation. As the number of identity verification users increases, more tokens will gradually unlock for market circulation.
• Price changes: The price of WLD has risen from $1.30 to $2.30 in the past month, an increase of 76%. Factors driving the price increase include the launch of the World Chain mainnet, collaboration with Dune Analytics to enhance on-chain transparency, and Uniswap's trading support on World Chain.
• Future potential analysis: Worldcoin's application scenarios encompass identity verification, financial transactions, and Web3 applications, aiming to provide users with an ecosystem based on real human identities. The driving force behind the price increase stems from the mainnet release of World Chain and the collaboration with Dune Analytics to enhance on-chain transparency.

Additionally, Uniswap has officially launched on World Chain, significantly increasing its trading volume, making Worldcoin one of the largest applications on the OP Mainnet. If Worldcoin's identity verification protocol can continue to expand its application scope and maintain its global user growth, the demand for its tokens will steadily rise. Furthermore, as the usage of its Layer 2 network, World Chain, increases and more developers build applications on its platform, the utility and demand for WLD tokens will significantly increase.

Conclusion: The Long-Term Rise of Value Coins

Although Meme coins dominated the market over the past year, as the market matures, value coins are regaining investors' attention due to their technological support, ecological expansion, and long-term development potential. These 8 projects showcase the potential of value coins in the future market. In the future, as these projects further materialize, value coins are expected to lead a new round of bull markets.

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