Skip to main content

Smart Contract Platform Tokens Command 26% of Crypto Economy Amidst Market Gains

Smart Contract Platform Tokens Command 26% of Crypto Economy Amidst Market Gains

It’s been a strong week for smart contract platform tokens, with the top ten performers all notching growth against the U.S. dollar. The rise ranged from ethereum’s (ETH) 4.2% jump to solana’s (SOL) 32.5% surge. The smart contract coin sector witnessed 32 crypto assets achieving double-digit percentage increases, starting with OMG’s 10.2% and scaling up to JUNO’s 110.8% escalation.

From Ethereum to Solana: Smart Contract Platforms Defy Odds

Smart contract coins have had a banner week, charting a collective market uptick of 1.6% in just the last day. As of today, November 5, these platform tokens hold a market cap of $357 billion, which accounts for 26% of the total value of the crypto economy.

Dominating this niche, ethereum (ETH) constitutes 62.18% of the market, with its own value appreciating by 4.2% this week. Close on its heels, BNB experienced a 4.9% increase. SOL, meanwhile, marked a 32.5% leap within the same timeframe.

In addition, cardano (ADA) enjoyed a 12.4% uptick versus the dollar, tron (TRX) edged up by 3.4%, and chainlink (LINK) expanded by 4.4%. Five smart contract tokens even boasted gains surpassing 35%, with juno (JUNO) skyrocketing by 110.8%. bitrock (BROCK) wasn’t far behind with a 69% gain, followed by phantasma (SOUL) with a 49.3% boost.

Multiversx (EGLD) rose by 47.4% and immutable X (IMX) also made notable strides, advancing 35.4% against the dollar. However, not all smart contract coins had a favorable week from October 29 to November 5, 2023.

Viction (VIC) stumbled with a 25.4% decrease, cypherium (CPH) receded by 14.5%, and meter governance (MTRG) slipped by 7.9%. Additional losses were seen by Concordium (CCD), canto (CANTO), chromia (CHR), and bytom (BTM), which recorded downturns between 7% and 3.1%.

Meanwhile, the top 100 smart contract crypto assets amassed $14.12 billion in day-long trades. While ETH reigns over 62% of the smart contract token economy, the leading ten smart contract coins combine to a commanding $324 billion or 90.75% of this market segment.

What do you think of the top smart contract token economy swelling in value over the past week? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/xoI8JRE
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more