In 2 Months, Top Smart Contract Tokens Gained 44% Against the Greenback Before Ethereum Merger
With The Merge coming next week and Cardano’s Vasil hard fork starting soon after, the market capitalization of major smart contract tokens by valuation has increased by 1.19% in the past 24 hours to $316 billion. dollars on September 11, 2022. Additionally, the market capitalization of the leading smart contract crypto assets has increased by 44.35% against the US dollar since the end of June.
Top Smart Contract Tokens by Market Cap Gain Over 44% in 80 Days
The top smart contract tokens by market capitalization have risen significantly over the past two months ahead of the highly anticipated Ethereum merger. When the merger takes place, the second-largest crypto asset by market capitalization and the largest smart contract token by valuation, Ethereum (ETH), will transition from proof-of-work (PoW) to proof-of-stake (PoS).
Ethereum gained decent value ahead of The Merge, which is expected to take place in just over two days or around September 14, 2022. In addition to The Merge, Cardano’s blockchain network is expected to be upgraded on September 22. As of writing on September 11, 2022, the total USD value of major smart contract tokens by valuation is up 1.19% today.
According to data from coinmarketcap.com, there is $316 billion in collective value among the top smart contract crypto assets. The top five smart contract tokens by valuation include Ethereum (ETH), BNB (BNB), Cardano (ADA), Avalanche (AVAX), and Ethereum Classic (ETC), respectively.
Over the past week, ETH has risen by 12.52%, BNB has surged by 6.05%, ADA has inflated by 2.67%, AVAX has gained 8.15% and ETC has risen by 19.34% . Smart contract token prices are much higher than they were 80 days ago, when the total total value of each was $218.9 billion on June 23, 2022.
On that day, ETH was trading hands for $1,132 per unit after hitting a low of 877 per ether on June 17. BNB was trading at $228 on June 23 and ADA at $0.47 per unit. 80 days ago, AVAX was trading at $17.92 and Chainlink (LINK) at $6.97. LINK was ahead of ETC on the day, but Chainlink is now below Ethereum Classic since ETC’s recent rise.
The total value locked in decentralized finance (defi) protocols has also jumped since June 23, with the TVL being around $55.29 billion. Today, statistics from defillama.com show that the TVL is around $60.26 billion, an increase of around 8.98% since then.
The biggest smart contract token gainers this week include liquidapps (DAPP), up 124.05%, aergo (AERGO), up 118.57%, and enecuum (ENQ), which gained 112.86 %. The week’s biggest losers in smart contract coin losses over the past week include salt (SALT), down 35.82%, edgeware (EDG), down 13.28 %, and Aurora (AOA), down 10% this week.
What do you think of the gains smart contract tokens have seen leading up to The Merge and Cardano’s Vasil hard fork? Let us know what you think about this topic in the comments section below.
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