After last week's brutal reckoning for the space, things are feeling a bit less gloomy as Bitcoin rises above $30k and a number of altcoins mount significant comebacks.
Today, our Bankless Senior Analyst Ben Giove dives into 10 ecosystems he believes are looking particularly promising as we navigate the rest of this bear market.
Every bear market claims its own victims. We've already seen a handful of teams shut down and walk away this cycle, but even as regulators sharpen their pitch forks and permabears unleash their shorts, there are a handful of ecosystems I have faith will weather the storm.
Some of these might surprise you, but I've got conviction in this list of projects. For more of my market takes, you can dial into the Bankless Token Hub where I analyze several projects every week!
The full list of projects (in no particular order) is for Paid Subscribers only but free users can check out my first pick: 👇👇
Frax is building an expanding ecosystem of DeFi products.
The most successful of these are FRAX, the fifth-largest stablecoin with a circulating supply of $1.0B, and frxETH, the third-largest liquid staking derivative with a 0.9% share of all ETH staking deposits. Frax also recently announced that they will be launching Fraxchain, an L2 which will settle to Ethereum.
These products, as well as the launch of Fraxchain, should help power growth of the Frax ecosystem, in turn generating revenues for and driving value to the FXS holders who lock their tokens for veFXS.
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