In this post, I’ll be sharing the top 5 trending crypto tokens since this year.
Crypto tokens are cryptocurrencies that stand for assets and basically reside on their blockchain. Tokens are used to conduct investment, to store values and also to make purchases.
What are Crypto tokens?
Crypto tokens are different class of digital asset that has value and can be exchanged. These tokens represents physical assets, utility or service and they reside on their own blockchain.
How Crypto Tokens are Backed by Blockchain?
Tokens are accessible with a known wallet that communicates with blockchain and manages the public-private key pair related to the blockchain address.
These tokens resides on the blockchain which enables easy trade, buying and selling, and exchange of this token from one person to another. Blockchain serves as the home where these tokens reside and is only through this blockchain, that they can be traded on.
Top 5 Trending Crypto Token and Their Price
Some of the top trending Crypto tokens available are :
• Tether (USDT)
USDT is a stablecoin that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether.
The token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation.
The major purpose of USDT is to combine the unrestricted nature of cryptocurrencies, which can be sent between users without the need for a third-party intermediary with the stable value of the US dollar. It’s price as at today is $1.00 USD
• USD Coin (USDC)
USD Coin is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve.
As well as providing a safe scenario for crypto traders in times of volatility, those behind the stablecoin say it can also allow businesses to accept payments in digital assets, and shake up an array of sectors including decentralized finance and gaming. It’s price as at today is $1.00 USD.
• Chainlink (LINK)
This is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more.
The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users looking to contribute to the network.its price as at today is $26.88
This is an automated market maker (AMM) and a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.
PancakeSwap uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return.
PancakeSwap allows users to trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE and stake CAKE to earn tokens of other projects. It’s price as at now is $19.59
This is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.
An example of an automated market maker (AMM), Uniswap was launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading.
Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges. It’s price as at now is $22.44
Crypto tokens are worth investing in, the potential it holds is very massive and should be considered an opportunity to make better profit.
We hope this article has provided you with vital informations on crypto tokens, the best ones available and their price. For all your views and opinions, kindly drop a message in the comment section.