The Top ERC20 Token: 8 Top Ethereum Blockchain Assets by Market Capitalization
There is an entirely fantastical and diverse world of Ethereum based tokens out there. But there is only one top 8 ERC20 tokens list we will discuss today!
In case you are new to the world of Ethereum Blockchain, you may be asking: what in the world is an ERC20 token, it’s vital to understand how many ERC20 tokens there are and which have the highest market capitalizations out of them all.
At present, there are over 140,000 ERC20 based digital token contracts. In actuality, though, the huge majority of these are either very not often used, giving them little to no value compared to others, while others have been inactive for some time.
Only as we gradually head to the top of this list, we begin to see the true competitors as the biggest ERC20 tokens. And out of them, there are some really major players, with some of them being highly considerable overall, generating billion to multiple billion-dollar market caps and transaction volumes to boot.
Below here are the top 8 existing ERC20 tokens according to market capitalization.
The Binance Coin, popularly known as (BNB) is the native cryptocurrency that stands right behind the digital coin exchange, Binance. It is one of the most widespread cryptocurrency trading platforms at present. Along with this status, it’s also the top competing ERC20 token on this list, boasting the highest market capitalization compared to any current one.
Please note that market capitalizations are rounded to the nearest 100 thousand, and prices are rounded to the nearest thousandth.
- VeChain (VEN)
VEN belong to the VeChain digital ecosystem and it is the token that runs throughout the system. It works in a way that users make use of the token to carry out or receive payments for any unpaid products or services.
Users use the token to pay for or receive payments for products and services.
- Maker (MKR)
DAO is the firm that is responsible for the third-largest ERC20 token on this list of top Ethereum Blockchain Assets by Market Capitalization, and its name is Maker (MKR). DAO itself is a decentralized independent organization on the Ethereum blockchain.
Maker serves as a stabilizing or balancing element to work against DAI’s instability, the DAO’s corresponding Stablecoin.
- OmiseGO (OMG)
The OMG token works as the pillar for the OmiseGo’s existing consensus algorithm which is sustained through a proof of stake system. In larger terms, OmiseGo functions as a platform for bringing financial services to the people that would or else have little to no access through the Ethereum blockchain.
- Basic Attention Token (BAT)
Used solely within the decentralized internet browser Brave, the Basic Attention Token (BAT) is being used for a number of advertising services. It was initially developed and applied to offer advertisers better data, all while it allows for the full protection of users’ privacy.
- TrueUSD (TUSD)
TrueUSD works as a stable coin which is supported by the American Dollar. And as it stands at the moment, it is one of the top stablecoin by the general market capitalization and earns it a place on our top 8 ERC20 token list.
- Decentraland (MANA)
Decentraland stands for a particularly interesting exception to the ERC20 rule likened to other Ethereum tokens and platforms, as it’s one of the small numbers with a token (MANA) that users have full and complete ownership over. MANA is how users “claim” a portion of Decentraland and interact with other users.
- WAX Token (WAX)
The WAX token helps users as a utility token on the online asset marketplace for WAX and OPSkins. The platform itself is overseen by a Delegated Proof of Stake (DPoS) consensus algorithm.
When it comes to the top 8 ERC20 token list, it’s a competitive space to attempt and work into, to say the least. With different tokens pushing for a and/or higher position on the list. Since the beginning of the Ethereum blockchain, ERC20 tokens have become the single most common conduit for cryptocurrency-based startups today.
This top ERC20 token list focuses on top market capitalizations, but it hardly scratches the ERC20 token market’s surface.