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Top 5 Vietnamese cryptocurrency projects with outstanding results!

In the field of Cryptocurrency, Vietnam also has very impressive projects. What are those projects? Let's find out 5 outstanding Vietnamese crypto projects!

ducdinh

Published Jul 15 2021

Updated Jul 12 2023

6 min read

Cryptocurrency is a brand-new industry with a lot of growth potential. We can also take pride in Vietnamese projects that have helped raise the prestige of blockchain and cryptocurrency in Vietnam on a global scale.

So what are those projects? What were the achievements? Let's learn about 5 outstanding Crypto projects from Vietnam. Let's take a look at five of Vietnam's most impressive crypto projects.

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Axie Infinity

Axie Infinity (AXS) is the most successful Crypto project developed by Vietnamese developers to date.

Axie Infinity is a Blockchain game (NFT Gaming) that was launched in 2018 and is based on Loom Network, an Ethereum Layer 2 scaling solution for games. Axies are fictional animals that players will gather and nurture in Axie Infinity.

Sky Mavis provides the project development team (a game company established in early 2018). The headquarter is based in Ho Chi Minh City, Vietnam, with 40 employees.

In addition, the initiative has partners who are well-known across the world:

Axie has many famous partners in the market.

Axie Infinity is Vietnam's most successful project to date. What achievements has Axie made considered the same as the heat of "Flappy Bird" in the past?

The market value of the AXS Token is above $1.4 billion, which is a huge figure for any enterprise, not only Axie.

The AXS Token market capitalization reached over $1.4 billion. Source: Coin98 Markets.

One of the projects that have raised $2 million on Binance Launchpad (currently the largest Crypto fundraising platform).
According to Token Terminal, Axie is also the second-largest 365-day revenue platform ($2.3 million), just behind Pancake.

Axie has the second-biggest 365-day sales (after Pancake).

What's more striking is that Axie Infinity has had an extremely impressive revenue growth rate. As you can see, starting in May 2021, record revenue increases of $6.6 million, $18.3 million, and $78.1 million were achieved in May, June, and the first half of July.

Axie Infinity's revenue growth has reached new heights.

With 350,000 daily active users and a monthly trading volume of up to 170 million USD, we have a large user base (you can refer to this information here).
Furthermore, the project's Play to Earn function provides cash for a large number of people.
And there are many more accomplishments...

TomoChain

The second project is TomoChain, a Blockchain Platform built by a Vietnamese team lead by Mr. Long Vuong, Founder and CEO of TomoChain (TOMO) - big brother of Vietnam's Crypto Dev Community.

Furthermore, Tomochain is the first Blockchain platform in Vietnam to gain financial attention from a number of international investment funds.

Smart Contracts may also be used to construct Dapps on the TomoChain network. And there's already a thriving ecology. Refer more about each project and its future development possibilities to understand the TomoChain ecosystem better.

The Tomochain development team has reached several milestones, including:

Since its Mainnet debut in 2018, TOMO (TomoChain's token) has been listed on several prominent exchanges, including Binance, FTX, KuCoin, Crypto.com, etc...
As a result, TOMO's market value increased to more than 212 million USD.

TOMO's market capitalization is over 212 million USD. Source: Coin98 Markets.

TOMO's return on investment (ROI) is likewise outstanding. The ROI at ATH was 17x (in comparison to the lowest price) and 9x (in contrast to the lowest price) (Compared to the opening price).
The Ministry of Education and Training has also used TomoChain's technological solution to search up text material.

Kyber Network

Kyber Network is one of the first AMM platforms in the market developed in 2017 by Mr. Luu The Loi and Mr. Tran Huy Vu - two young CEOs awarded by Forbes magazine in 2017 as one of the Forbes 30 under 30 in Asia in Finance - Investment.

Kyber Network was also successful in raising 52 million dollars in 2017. (an extremely impressive number for any project in the Crypto market).

Despite competition from plenty of competing AMM platforms, the Kyber team is constantly working to enhance their product. The most recent update from that project is “Kyber 3.0,” which claims to enhance the architecture, introduce the KNC - DMM token improvement proposal, and improve the AMMs platform.

The following are some of Kyber Network's accomplishments:

The project's KNC token has also surpassed 140 million dollars in market capitalization.

KNC surpassed 140 million dollars in market capitalization. Source: Coin98 Markets.

In Kyber's AMM, TVL surpassed 360 million USD (according to Tokenterminal)
When considering the platform's revenue, Kyber Network cannot be underestimated. The platform has generated 6.3 million in revenue (far more than significant names like Cream Finance, 0x, and Hegic) and is just slightly behind the leading AMM platform on Polygon, Quickswap.

Kyber Network has reached 6.3 million dollars in revenue.

Furthermore, the Kyber Network team is also serving as Advisor for a number of other ventures on the market.

KardiaChain

KardiaChain is a blockchain that focuses on interoperability and offers companies and governments hybrid blockchain solutions. The project has been created by a Vietnamese team since 2018, with Mr. Tri Pham as the project's CEO and Founder.

KardiaChain is a blockchain with the concept of "Internet of Blockchains" (similar to Polkadot, Avalanche, & Cosmos), which permits multi-chain interoperability via Dual Nodes.

The team also revealed that they collaborate with large service providers (business and government) to decentralize their existing solutions during an AMA with Coin98 Insights. The strategy allows KardiaChain to reach millions of people without spending a lot of money on market education.

The KardiaChain team has accomplished some milestones, including:

KAI is KardiaChain's cryptocurrency in market capitalization, having a market cap of about 132 million USD.

KAI has reached more than 132 million dollars in market capitalization. Source: Coin98 Markets.

KAI has a 138x return on investment (ROI) from ATL to the current pricing.
The project is working closely with the Vietnamese government and companies to integrate its solution. Remarkably, VTVCab uses KardiaChain technology to secure their ON Sports mobile app and assist the Vietnam Football Federation in Blockchaining player data.

Other projects

The outstanding projects in the realm of crypto developed by the Vietnamese team are listed above. With the previous accomplishments in mind, you will be pretty happy when Vietnamese projects reach out to the world.

In addition to the projects described above, you can see that the Vietnamese themselves are working on some projects:

My DeFi Pet: NFT Gaming project from Vietnam that is advised by the KardiaChain team.
Faraland (FARA): Another NFT Gaming project with a Vietnamese development team.
Coin98 (C98) is a product developed by the Coin98 team.
….

In particular, the Coin98 team is also very proud to have also contributed a part of their efforts to make Vietnam gradually become a recognized name on the world Crypto map.

The project contains many solutions that form a DeFi ecosystem, allowing users to access and invest in the DeFi market efficiently. The following are examples of current products:

Coin98 Exchange: cryptocurrency trading platform. Experience here: exchange.coin98.com
Coin98 Wallet: An easy-to-use cryptocurrency wallet.
Coin98 Portfolio: Manage the Investment portfolio.
Many more products are in the developing process; take a look at an overview of the Coin98 ecosystem to learn more.

The Coin98 crew is also quite pleased with their initial achievements:

Coin98 Labs closed its seed round in April 2021, raising $1.25 million from investment groups ParaFi Capital, Multicoin Capital, Hashed, and Spartan Group.
On April 6, 2021, Alameda Research raised $4 million.
Binance will launch C98 Token on the Binance Launchpad on July 15, 2021.

Coin98 has reached significant milestones as a result of the events listed above. These are the initial steps on a long road ahead of us.

In addition, I firmly believe that there are still many projects out there that are being nurtured and developed by Vietnamese teams ready to explode in the future.

Summary

Those projects listed above are the ones that stand out and have achieved incredible results. And it may be claimed that Vietnamese crypto projects are progressively having an impact on the world stage which is an accomplishment to be proud of and admired.

Coin98, in particular, and many of Vietnam's Crypto projects in general, I hope, will continue to grow in popularity, allowing us to become big names in the worldwide market.