Crypto Market Analysis: TOP-5 Tokens Overview
Cryptocurrency market is extremely volatile and incredibly hard to predict. There are over 2 thousand different digital currencies being traded on exchanges up to date and their quotes tend to move up and down depending on a number of different factors. Still, there is something more or less stable in this market — we can point out leading currencies in terms of market cap.
All cryptocurrencies can be divided into coins and tokens. The difference between them is not much evident, but it still exists. For instance, coins can use their own blockchain while tokens operate on top of some already existing blockchain, so tokens are easier to create. Besides, tokens always have an issuer and some utility in the system they belong to. The share of coins in total cryptocurrency market cap is much more significant as TOP-5 coins take over 80% of the total cap whereas TOP-5 tokens take only about 2,5%. Up to date, TOP-5 token list looks as follows:
1. Tether: $1,8 billion
2. Binance Coin: $667 million
3. Maker: $263 million
4. 0x: $209 million
5. OmiseGO: $206 million
Tether and Binance Coin have significant advantage over the other tokens by market cap, though positions of other tokens from the list vary. Some other tokens likely to appear in the list are TrueUSD, Basic Attention Token, USD Coin, Zilliqa and Aeternity.
1. Tether (USDT)
Market cap: $1,8 billion
Max supply: not limited
Circulating supply: 1,9 billion
Trading: February 2015
Website: tether.to
Tether is a stable currency 100% backed by fiat currency held in reserves so that 1 USDT is always equivalent to 1 USD. Up to date Tether is the most widely integrated crypto-to-fiat currency. It provides world-class security and meets international compliance standards and regulations. Tether enables businesses to use fiat currencies on blockchains in an easy manner.
2. Binance Coin (BNB)
Market cap: $667 million
Max supply: decreasing due to token burn program
Circulating supply: 131 million
Trading: August 2013 ($0,11)
Price: $5,18
ROI: >4600%
Website: binance.com
Binance Coin is the native cryptocurrency of Binance, the biggest crypto exchange by trading volume up to date. BNB provides the token holders with the right for discounted trading fees. The discount size decreases from 50% in the 1st year to 6,75% in the 4th year. Every quarter Binance uses part of its profit to buy back and burn BNB tokens until 100 million BNB are burned.
3. Maker (MKR)
Market cap: $263 million
Max supply: 1 million
Circulating supply: 728,2 thousand
Trading: June 2017 ($22,1)
Price: $360,87
ROI: >1530%
Website: makerdao.com
Maker is a decentralized autonomous organization build on the Ethereum blockchain and comprised of a stable coin, collateral loans, and decentralized governance. MKR token is the native currency of the project. It is a utility, governance token and recapitalization resource of the Maker system. MKR is required for paying the fees in the Maker system. MKR holders have the right to vote for the risk management and business logic of the Maker system.
4. 0x (ZRX)
Market cap: $208,8 million
Max supply: 1 billion
Circulating supply: 546,6 million
Trading: August 2017 ($0,11)
Price: $0,38
ROI: 245%
Website: 0xproject.com
0x is an open protocol that facilitates the decentralized exchange of Ethereum-based tokens. Developers can use 0x to build their own custom exchange apps with a wide variety of user-facing applications. ZRX tokens are used to pay transaction fees to Relayers and for decentralized governance over 0x protocol’s update mechanism which allows its underlying smart contracts to be replaced and improved over time.
5. OmiseGO (OMG)
Market cap: $206 million
Max supply: not limited
Circulating supply: 140,2 million
Trading: July, 2017 ($0,53)
Price: $1,46
ROI: 175%
Website: omisego.network
OmiseGo is a decentralized financial network, enabling transparent p2p transactions in real time. The network facilitates self-sovereign financial services across geographies, asset classes and applications. The network provides white-label SDK, digital asset gateway, decentralized exchange and clearinghouse. OMG tokens provide their holders the right to validate the blockchain within its consensus rules.
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