What are the most popular tokens on crypto exchanges?
The list of 20 tokens, accounting for 57% of the market capitalization, includes: OmiseGO, EOS, Tether, Golem, Ardor, Augur, TenX, MaidSafeCoin, TRON, Basic Attention Token, Populous, Gas, Binance Coin, Kyber Network, DigixDAO, Status, Walton, SALT, Veritaseum, Civic.
It's worth noting that OmiseGO (9%), EOS (8%), Tether (7%) account for almost quarter of tokens' market value. Let's take a more detailed look at the leading ICO coins.
Pic. 1 Structure of tokens capitalization
Source: Bitnewstoday.com calculations based on the info from coinmarketcap.com
OmiseGO
OmiseGO (OMG) token was issued by the Asian company Omise in the framework of ICO, aimed at raising funds for creation of a decentralized platform for the exchange of fiat money and cryptocurrencies. Initial coin offering helped the project to raise $19 million.
OMG was first listed on exchange on July 14, 2017. At that time, one coin costed 53 cents, but its value started to grow steadily and by the beginning of August it had reached the level of 1.33 dollars. And after the owners of the project announced that the system will be created on the platform Plasma (the project of Vitalik Buterin and Joseph Poon), the price of tokens soared almost tenfold. OMG reached its all-time high on September 1. One coin could be traded for $12.52.
However, since mid-September the price of OMG has gradually decreased and by the time of writing the article has dropped to $6.5 per token. At the beginning of November 2017, OMG has the largest capitalization among all tokens - $641 million. The total supply exceeds 140.2 million tokens.
Pic. 2 OmiseGO (OMG) token price dynamics
Source: coinmarket.cap
EOS
Smart contract platform's EOS tokens rank second in terms of capitalization among tokens. They account for about 8% of the market value of all ICO coins presented on crypto exchanges.
According to tokendata.io, EOS is among the top three projects in terms of ICO funds raised. As of November 2, 2017, the project attracted $200 million.
The token was listed on crypto exchanges on July 1 at a price of 1.03 dollars and two days later it went up to 4 dollars. However, token's value gradually declined and by the beginning of September it had dropped below the $1 mark. In mid-October it was traded for about 50 cents. At the time of writing, the cost of EOS exceeded one dollar again.
Pic. 3 EOS token price dynamics
Source: coinmarketcap.com
Tether (USDT)
The capitalization of USDT tokens exceeds $500 million that is 6,63% of the total amount. Blockchain-based platform allows to carry out transactions in fiat currencies. The idea of the founders was that 1 USDT should always be equal to 1 dollar. However, Wells Fargo's restrictions on U.S. dollar wire transfers caused suspension of operations in fiat currency on the Bitfinex exchange, which had a negative impact on the rate of USDT, and the price of token fell below the level of $ 1.
Experts argue that the capitalization of tokens will continue to grow further, both as a result of new tokens entering exchanges, and at the expense of increasing demand and the cost of the tokens that are already on the list. Bitnewstoday.com will closely monitor if other tokens catch up and overtake the leaders in terms of capitalization.