Ethereum is undoubtedly one of the most popular blockchains in the world. Currently, the market cap of the leading altcoin project is more than $148 billion. In addition, Blockchain supports more than 3,500 decentralized applications (dApps). Market analyst Nishant Shukla shares a list of the top 5 Ethereum tokens currently in the market.
First on the list is the stablecoin Tether USD (USDT)
Tether is one of the first and foremost stablecoins of the Ethereum network. The project has a market value of more than $65 billion. Tether is pegged to the US dollar. It is also secured by reserves of cash, cash equivalents and other assets. The current price of USDT is $0.999741. The 24-hour trading volume is $31,541,591,912. The circulating supply of USDT is 65,362,681,003 USDT tokens. However, there is no maximum supply limit. For more information about altcoins cryptocoin.comPlease visit this page.
Popular meme coin Shiba Inu (SHIB) ranks second
The Shiba Inu is a decentralized altcoin project named after a Japanese dog breed. An anonymous developer named Ryoshi created the project in 2020. Ryoshi’s goal was to test what would happen if the community completely ruled a cryptocurrency. The Shiba Inu is often regarded as a compatible Ethereum alternative to the original meme coin, Dogecoin. The most well-known token on the platform is SHIB. However, the Shiba Inu ecosystem also includes LEASH and BONE tokens. At press time, the altcoin is trading at $0.000009095. The circulating supply is 549,063,278,876.302 SHIB. However, the maximum supply is unknown.
Third altcoin project Aave (AAVE)
Aave, a crypto lending platform, connects crypto lenders and lenders without using a middleman. The platform does this by using a smart contract mechanism that automatically executes software-based transactions. Users are required to provide collateral before borrowing on this platform, as in many other decentralized loan systems. They deposit cryptocurrencies into a pool of liquidity, which is then lent to others. They cannot borrow more than they put in. Therefore, if they cannot repay, the platform confiscates the collateral. At press time, the altcoin was trading at $61.36, up 1.2% on a daily basis. There are 14,093,193 AAVE tokens in circulation. It also has a maximum supply of 16,000,000 AAVE tokens.
Another altcoin Chainlink (LINK) offering opportunity
This is a technology platform that enables companies without Blockchain to build secure Blockchain platforms. Also, a cryptocurrency. Chainlink is a middleware platform that connects smart contracts built on Blockchain with other data sources. LINK’s price at press time is $7.36. Chainlink has gained over 15% in the last 7 days. Meanwhile, there are 507,999,970 LINK tokens in circulation. Also, the LINK supply is limited to 1,000,000,000 tokens.
Latest altcoin project Loopring (LRC)
Loopring is a protocol that allows you to create a non-custodial order book based DEX. What’s notable is that, despite being on Ethereum, it’s a significantly faster transaction. Also, their fees are more reasonable. It does this using zero-knowledge proofs and a scaling technique known as ‘rollups’. These are called ZkRollups. These allow Loopring to remain secure and complete some calculations from the Ethereum network. At LRC’s press time, it was trading at $0.2389, up 1.58% on a daily basis. Meanwhile, there are a total of 1,374,513,896 LRC tokens in circulation. It also has a circulating supply of 1,330,133,546 LRC tokens.
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