What new cryptocurrency projects needs to grow

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We see new cryptocurrency projects almost everyday in this space, all too well some projects emerge only to slowly dwindle with time, there has been projects that will come out with much hype at first only to eventually fade away with no one hearing about them I mean the space is quiet competitive and for projects that can't grow they might easily lose their relevance.

Many create new project without proper plan on how to ensure the growth of the project, it's no all about creating a coin most times, it's quite important too that we understand how to contribute to the growth of the project.

Without substantial and good plan to ensure for the continuous growth and longevity of a project by it's team it won't survive long that's for sure and indeed some project don't really understand how or what it takes to stay here for long like Bitcoin and Ethereum for instance that have survived the longest and still flourish.

I believe new cryptocurrency projects could really grow when they focus on some of these needs;

Strong Value Proposition

A need project needs to have a value, the value of a coin is what drives it's price is what determines or help users to trust that even in bad market condition the project won't die off like in an extreme bear winter, it's also what helps the users trust that a project will perform well after a bear winter, the value or unique use case of a project helps to ensure that it grows.

A project needs to have a unique use case or something peculiar to it that sets it apart from other project, when I talk about unique usecase it's got to be able to offer solution to a problem in a blockchain or atleast improve on the available solutions or atleast be able to solve real life problems and that right there would ensure that even with the passage of time it won't become completely irrelevant.

Some of this unique usecase could be a much better scalability maybe more than others will have or offering transaction with less fees other than what we have today already with or and improved transaction throughput or ensure users have an even more privacy just to name a few. So strong and unique usecase is needed for growth of a coin.

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Community Building

A healthy community is also really important to ensure the growth of a project so it's imperative that a project intending to grow needs to build a community that is active infact that should be one of it's top most priority. The community needs an active community on centralized as well as decentralized social media platforms if possible to generate engagement and folster growth.

Early users need to be engaged and active social media interaction helps to folster a much faster adoption which is really important to the development and overall growth of the project, without people using a project no matter how good it's invalid so thats why a project goal should be to seek early adoption by users and one good way to do that is by building a strong and active community on social media where the users are happy because a happy community joyously help to contribute to the overall growth of a project.

Not only building a community but the team should ensure they maintain an open and transparent line of communication with their community, it's blockchain after all decentralization and transparency is everything and your communities opinions should also be considered at times before making major decisions all for the good of the project.

Token Economics

Token economics is another way to ensure growth of a project it's important that the supply of the token is not so high when compared to the demand, and insane infinite supply would always work against a project growth especially when the demand doesn't match this supply and most times as it is with infinite supply there is never a demand enough especially with the competition present in the cryptocurrency space.

So the only way to ensure that your project is a step ahead is with good token economics, when the supply and demand is in equilibrium it would help to ensure that the token doesn't become hugely inflated and lose its value.

I believe that having an incentives for participation of user is also vital to this and their contribution should be rewarded like most will likely want to stake or even hold a token if they feel there is an incentive to doing that so if there is incentive it will help most users to want to use this token for activities like staking or yield farming or even for governance as the case maybe and all this helps the project network to grow.

Exchange Listings & Liquidity

Another way to ensure the growth of your token is get it listed on top exchanges because when it's listed on top exchanges it ensure that the project would be available for trading and many will get a chance to hold and trade it and the more people trade it the more the trading volume which is helpful for the revance and growth of this token so striving to get a new project listed on Dexs and Cexs is a good step towards ensuring the growth of a project.

Having liquidity pools on decentralized exchanges is also quiet helpful, what this does is that it will help to ensure that users who are into defi gets to participate too and ofcourse this all works out for the good of the project. So listing on Dexs and Cexs is important for a new project to grow really.

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Conclusion

I am of the believe that when a project ensures that there is a strong token economics coupled with a strong an active community on either of or both of centralized social media like discord and twitter and decentralized social media platform and getting listed on top exchanges and having and underlying fundamental value all these would indeed help a project flourish even in the harshest environment then imagine what it would do for it on a good environment.

This project would soar to the moon with high influx of users and cash and the price surge won't be based on mere speculation but out of the value the project gives and for the hardwork of the team.