This year, the narrative in the crypto space has been dominated by memecoins, with their explosive growth and high-risk, high-reward dynamics capturing widespread attention. While memes offer the allure of rapid wealth, they also come with significant volatility and risk. For those interested in value investing and long-term innovation, the real opportunities often lie in projects with solid technology, clear use cases, and strong fundamentals.
In this context, the RootData List 2024, released during the Devcon event in Bangkok, highlights the most promising unreleased token projects. These projects represent a diverse range of sectors, including modular blockchains, DeFi, infrastructure, and AI, and are backed by substantial funding and development progress. Here, we break down the top 50 projects to watch, their innovations, and what makes them stand out.
Overview of the Unreleased Token Projects
The median funding for projects on the list is $25.71 million, with an average of two funding rounds. Seven projects have reached a valuation of $1 billion or more, while four have not disclosed any public funding. The projects span 26 sectors, with modular blockchains, DeFi, infrastructure, and AI representing the largest categories. Despite challenges in areas like GameFi and NFTs, these projects continue to drive innovation and show significant progress.
Key Sectors and Trends
- Modular Blockchains: Projects focusing on scalability and customization.
- DeFi: Decentralized finance platforms enhancing liquidity and trading.
- Infrastructure: Tools and networks improving blockchain performance.
- AI Integration: Combining artificial intelligence with blockchain for new applications.
Layer 1 and Layer 2 Blockchains
The competition among new public chains and Layer 2 solutions has intensified, with projects striving to capture market share and liquidity. Key players in this space are leveraging concepts like chain abstraction, privacy, intent-centric design, and parallel processing to stand out.
Anoma Network
Anoma is a leader in the intent-centric privacy space, offering a new paradigm for decentralized applications. Its founders previously worked at Cosmos development company All in Bits. The project has raised $57.8 million across seed, Series A, and Series B rounds from investors like Polychain and Coinbase. Recent reports suggest a new funding round could value Anoma at $1 billion. While the testnet is not yet live, its privacy-focused instance, Namada, has released token economics and is testing IBC asset transfers.
Espresso Systems
Espresso combines Proof-of-Stake consensus with zk-Rollup mechanisms to offer scalable, privacy-focused solutions for Web3. Its mainnet launched in November 2024, with plans to roll out advanced features in early 2025. The project has raised $60 million from a16z, Electric Capital, and others.
Monad
Monad aims to be a high-performance EVM-compatible blockchain with parallel processing capabilities. It raised $225 million in April 2024 from Paradigm, IOSG Ventures, and other top firms. The testnet is live, with internal tests showing 10,000 transactions per second.
Movement
Movement is building an Ethereum L2 using the Move language, combining performance with EVM compatibility. It raised $38 million in April 2024 from Polychain Capital, Binance Labs, and OKX Ventures. The public testnet launched in July 2024.
Berachain
Berachain is an EVM-compatible chain with a Proof-of-Liquidity consensus mechanism, designed to attract liquidity and avoid "ghost town" scenarios. It raised $100 million in Series B funding and is currently in the testnet phase, with a mainnet launch expected by the end of 2024.
Sophon
Sophon is an entertainment-focused ecosystem built on ZKsync's Elastic Chain. It emphasizes ecosystem growth, with innovative applications like AI companions and NFT-based experiences. The project has raised over $70 million, including investment from Binance Labs, and plans to launch its mainnet in November 2024.
Particle Network
Particle is developing a modular L1 for chain abstraction, allowing users to manage assets across chains with a single address. It has raised $15 million from Spartan Group, Gumi Cryptos Capital, and others. The Universal Accounts feature is in final testing.
RISC Zero
RISC Zero uses zero-knowledge proofs and RISC-V zkVM to build scalable blockchains. It has raised $54 million and recently launched Boundless, a verifiable computation layer. The project also introduced Kailua OP Rollups for faster finality.
Succinct
Succinct is building a decentralized prover network for trustless applications. It has raised $55 million and launched SP1, a zkVM for Rust and other languages. Projects like Polygon and Celestia have adopted SP1.
Base
Base is Coinbase's Ethereum L2, designed to onboard the next billion users to Web3. It has not conducted public fundraising or announced a token, but its sequencer has generated over $50 million in revenue this year.
Eclipse
Eclipse offers customizable modular rollups with support for multiple execution environments. It raised $65 million and launched its mainnet in November 2024.
Initia
Initia is building an interconnected network of rollups for seamless cross-chain experiences. It has raised $25 million and plans to launch its mainnet in Q4 2024.
MegaETH
MegaETH is an Ethereum L2 focused on high performance, aiming for 100,000 transactions per second. It raised $20 million in seed funding and plans to launch its testnet in late 2024 or early 2025.
Consumer Applications: Prediction Markets and Meme Platforms
Polymarket
Polymarket is a blockchain-based prediction market platform that gained traction during the 2020 and 2024 U.S. election cycles. It has raised $70 million and is reportedly planning a token launch. The platform saw 35 million visits in October 2024.
Pump.Fun
Pump.Fun is a meme coin launchpad on Solana and Blast. It simplifies token creation and has generated $100 million in revenue rapidly. The platform plans to introduce a token and airdrop, and recently added video-based token launches.
DeFi: Undervalued Innovations
DeFi has matured since its 2021 peak, with innovations in MEV, perpetual exchanges, and infrastructure driving growth. Key projects include:
bloXroute
bloXroute offers DeFi trading acceleration tools, improving block and transaction propagation speeds. It raised $70 million in 2022.
Flashbots
Flashbots focuses on MEV solutions, providing tools for transparent and efficient extraction. It raised $60 million at a $1 billion valuation in 2023.
Figure Markets
Figure Markets combines traditional finance with decentralized asset control, offering a range of blockchain-native assets. It raised $60 million in Series A funding.
Hyperliquid
Hyperliquid is a decentralized perpetual exchange on its own L1, popular for trading long-tail assets. It has not disclosed public funding but is a leader in Perp DEX volume.
Infinex
Infinex is a decentralized perpetual trading platform by Synthetix, aiming to bridge CeFi and DeFi experiences. It raised $67.7 million in a unique patronage model.
Morpho
Morpho is a lending protocol that improves capital efficiency by combining P2P and pool models. It raised $50 million and is preparing to enable token transfers.
Solv Protocol
Solv Protocol offers decentralized Bitcoin staking, providing yield opportunities for BTC holders. It raised $11 million at a $200 million valuation.
Glow
Glow incentivizes carbon credit creation through solar energy rewards. It raised $30 million and is expanding into regions like India.
AI and Web3 Integration
0G
0G is a modular AI chain with a scalable data availability layer. It raised $40 million and is developing a decentralized AI operating system. The project also offers node sales for community participation.
Frequently Asked Questions
What are unreleased token projects?
Unreleased token projects are blockchain initiatives that have not yet launched their native tokens. They often represent early-stage opportunities for investors and users to get involved before public availability.
Why are these projects worth watching?
These projects are typically backed by significant funding, innovative technology, and strong teams. They offer potential for growth as they launch and expand their ecosystems.
How can I participate in these projects?
Participation varies by project but may include testnet involvement, node operation, or community engagement. For some, token launches or airdrops are expected in the future. 👉 Explore more strategies for early participation
What risks are associated with unreleased tokens?
Risks include regulatory uncertainty, project failure, and market volatility. It's essential to conduct thorough research and understand the project's fundamentals before investing.
How do I stay updated on these projects?
Follow official project channels, community forums, and reputable crypto news sources for the latest developments and announcements.
Are there any guarantees of success?
No investment is without risk. While these projects show promise, success depends on execution, market conditions, and adoption. Diversification and due diligence are key.
Conclusion
The crypto industry continues to evolve, with unreleased token projects representing the next wave of innovation. From scalable blockchains to AI integration and DeFi advancements, these projects offer diverse opportunities for those willing to look beyond short-term trends. By focusing on fundamentals and staying informed, investors and users can navigate this dynamic landscape effectively. 👉 Get advanced methods for tracking promising projects