With The Merge coming next week and Cardano’s Vasyl hard fork starting shortly after, the market capitalization of high-end smart contract tokens has grown by 1.19% in the last 24 hours to reach $316 billion on September 11, 2022. Additionally, the market capitalization of top smart contract crypto assets has increased by 44.35% against the US dollar since the end of June today.
Top Smart Contracts Tokens Gain Over 44% in Market Capitalization in 80 Days
Smart contract tokens, the largest by market capitalization, have risen sharply over the past two months ahead of Ethereum’s much-anticipated 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 move from Proof of Work (PoW) to Proof of Stake (PoS).
Ethereum has gained good value leading to a consolidation that is scheduled to happen in more than two days or on September 14, 2022. In addition to The Merger, the Cardano blockchain network is expected to be updated on September 22nd. At the time of writing on September 11, 2022, the total US dollar value of Top Smart Contract Tokens in Review is up 1.19% today.
According to data from coinmarketcap.com, there is a collective value of $316 billion among the top smart contract crypto assets. The top five smart contract tokens in terms of valuation include ethereum (ETH), bnb (BNB), cardano (ADA), avalanche (AVAX), and ethereum classic (ETC), respectively.
In the past week, ETH rose 12.52%, BNB jumped 6.05%, ADA rose 2.67%, AVAX gained 8.15%, and ETC rose 19.34%. The smart contract token prices on June 23, 2022 were much higher than 80 days ago when the total value was $218.9 billion.
On the day, ETH was trading at $1,132 per unit after confirming a June 17 Ether low of 877. BNB was trading at $228 on June 23 and ADA was $0.47 per share. 80 days ago, AVAX was trading at $17.92 and Chainlink (LINK) was at $6.97. Link is ahead of ETC on the day, but chainlink is now below ethereum classic, where ETC recently rose.
The total value locked in decentralized finance (defi) protocols jumped from June 23 to around $55.29 billion TVL. Today, defillama.com statistics show that TVL is around $60.26 billion, or an increase of 8.98% since then.
The biggest smart contract token gainers this week were LiquidApps (DAPP), 124.05%, Ergo (AERGO), 118.57%, and enecuum (ENQ), 112.86%. The biggest losers of the week in terms of smart contract coin losses last week were Salt (SALT), down 35.82%, Edgeware (EDG), down 13.28%, and Aurora (AOA), down 10% this week.
What do you think about the gains that smart contract tokens have seen leading up to the merger and the Cardano Vasyl hard fork? Let us know what you think about this in the comments section below.
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