With next week’s merger and Cardano’s Vasil hard fork kicking off soon, the market cap of top smart contract tokens by valuation increased by 1.19% over the past 24 hours to 3160 on September 11, 2022 One hundred million U.S. dollars. Additionally, today’s top smart contract cryptoasset has gained 44.35% against the U.S. dollar since the end of June.
Top smart contract token by market cap gains over 44% in 80 days
The top smart contract tokens by market cap have increased significantly in the past two months ahead of Ethereum’s much-anticipated merger. When the merger occurs, Ethereum (ETH), the second-largest crypto asset by market cap and the largest smart contract token by valuation, will transition from proof-of-work (PoW) to proof-of-stake (PoS).
Ethereum had already gained significant value prior to The Merge, which is scheduled to happen in two days or around September 14, 2022. In addition to The Merge, the Cardano blockchain network is expected to be upgraded on September 22. At the time of writing on September 11, 2022, the total dollar value of the top smart contract tokens by valuation is up 1.19% today.
According to coinmarketcap.com, the total value of the top smart contract crypto assets is $316 billion. The top five smart contract tokens by valuation include Ethereum (ETH), bnb (BNB), Cardano (ADA), Avalanche (AVAX), and Ethereum Classic (ETC).
Last week ETH rose 12.52%, BNB rose 6.05%, ADA rose 2.67%, AVAX rose 8.15%, and ETC rose 19.34%. Smart contract token prices are much higher than they were 80 days ago, when the combined value of all these tokens on June 23, 2022 was $218.9 billion.
On that day, ETH changed hands at $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 was trading 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 that day, but since ETC’s recent rally, chainlink is now below Ethereum Classic.
The total value locked in decentralized finance (defi) protocols has also surged since June 23, as TVL is around $55.29 billion. Today, statistics from defillama.com show that TVL is about $60.26 billion, an increase of about 8.98% since then.
The smart contract tokens that saw the biggest gains this week included liquidapps (DAPP) up 124.05%, aergo (AERGO) up 118.57%, and enecuum (ENQ) up 112.86%. In terms of smart contract currency losses over the past week, the biggest losers this 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 benefits of the smart contract tokens that led to The Merge and Cardano’s Vasil hard fork? Let us know what you think about this topic in the comments section below.
Jamie Redman is Head of News for Bitcoin.com News and a fintech reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News on the disruptive protocols emerging today.
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