The competitive nature of the cryptocurrency industry is no secret to anyone paying attention. With numerous cryptocurrencies already in existence and many more being created and launched daily, the battle for relevance/dominance is never-ending. For years we have witnessed several cryptos try to usurp Ethereum (ETH) and take its place within the market. These “Ethereum Killers”, as they are fondly called, consist of highly sought-after tokens, such as Polkadot (DOT), Solana (SOL), Avalanche (AVAX) and much more. Such is the nature of the cryptocurrency industry and a feature that has become all too familiar.
In recent weeks, a new altcoin has been in the news for various reasons. Moshnake Token (MSH) is an upcoming gaming coin and one of the most anticipated cryptocurrencies this year. Native to the Moshnake platform, the token is part of an initiative that seeks to deliver a nostalgic gaming experience to the ever-expanding gaming society. The excitement and anticipation surrounding Moshnake Token (MSH) have led to several comparisons with industry-leading altcoins, the most notable ones being Avalanche (AVAX) and Shiba Inu (SHIB). To that effect, we compare all three altcoins in this piece.
Avalanche (AVAX) is a blockchain network that supports the creation of multifunctional blockchain platforms and decentralized applications (dApp). It is a platform that addresses problems within the cryptocurrency industry, such as slow transaction speeds, centralization and scalability. Avalanche (AVAX) achieves this through a number of innovations like its consensus protocol which provides low latency, high throughput capabilities and resistance to 51% of attacks.
Avalanche (AVAX) is the third-largest blockchain by total value locked (TVL), only behind Ethereum (ETH) and the BNB Smart Chain (BNB). AVAX is its native cryptocurrency and an integral part of its ecosystem. AVAX serves many purposes on Avalanche, such as facilitating networ governance, payment fees, staking for security and providing utility. It is available on prominent crypto platforms within the industry.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is an Ethereum (ETH) based cryptocurrency and the second largest meme coin by market cap. It is also considered the main rival to fellow meme coin, Dogecoin (DOGE). Shiba Inu (SHIB) is a 100% community-owned cryptocurrency that facilitates interaction and collaboration. It also enables operations on ShibaSwap, an Ethereum (ETH) based decentralized exchange (DEX) and automated market maker (AMM) that allows users to stake and provide liquidity.
Shiba Inu’s success has sparked many copycats, such as Captain Shibarrow, BitShiba and Shibavax.
Moshnake Token (MSH)
Moshnake Token (MSH) is the native cryptocurrency of the BNB Smart Chain (BNB) based crypto gaming platform, Moshnake, and plays an integral role in its ecosystem, facilitating crypto-related activities such as rewards, payment fees, network governance and more. The token also grants exclusive access to features like the Moshnake Internal Marketplace, where players can purchase in-game items. Moshnake Token (MSH) has become the subject of interest within the industry in the last couple of weeks and looks likely to become a valuable asset in the current climate.
As the bear market rages on, Moshnake Token (MSH) could be an ideal long-term cryptocurrency investment for struggling investors. The token is fast approaching its presale stage, when it will be available to the general public. More information is expected to be made public before then. To stay updated on all things Moshnake, watch this space.
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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