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Bitcoin, Ethereum, and USDT are some of the coins that would have flashed into your brain when you read the title “ top 5 trending coins”. You would not be wrong. It’s because you were thinking in terms of the market cap. But, we could rank cryptocurrencies based on other parameters like value gained, value lost, most visited coins, and other factors.
Our listicle has been formed by taking many factors into account. Its latest development, social dominance on Santiments, the performance of the coin, etc. So let’s unveil the top 5 cryptocurrencies. BLUR captures the first place on our list while Optimism (OP) is second only to BLUR. GMX sits in third while Stacks and ssv network laid claim to the fourth and fifth places, respectively on our list.
Blur
Blur is an Ethereum-based NFT marketplace for pro traders which was launched in October 2022. BLUR, a governance token, was introduced in an attempt to decentralize and give controlling power to its community. Moreover, its user-friendly interface and features like “floor sweeping” across multiple marketplaces, fast “snipe reveals” and portfolio analytics tools, won the heart of the masses.
Since February 3 (before $BLUR launched) Blur has contributed more royalty revenue to creators than any other marketplace. Net royalty revenue is the highest it’s been in 3 months.
The BLUR token has been trading at $0.739523 and it is down by 7.72% in the last 24 hours. Moreover, the token is ranked 127, with a live market cap of $294,151,737. The highest price paid for Blur (BLUR) is $5.02, which was recorded on Feb 14 while it reached its all-time lowest of $0.489540 on the same day. Blur expects to distribute 300M+ BLUR to the community in Season 2.
Optimism
Optimism (OP) is a layer-two blockchain on top of Ethereum. It is ranked at 63 with a live market cap of $803,617,708. Optimism works by using optimistic rollups. These rollups were named as such because they roll up all the transactions and bundle them into a single transaction, to be executed on Layer 1.
As such, Optimism’s Layer 2 blockchain inherits all the security features from Ethereum. The company stated that according to their estimation, over the past two years, Optimism Mainnet had cumulatively saved users $2.69 billion in fees. In terms of time, it has saved 15.8 years of waiting for transaction confirmations, and currently secures $2.8 billion in on-chain value.
Furthermore, Optimism has an optimistic future where they are hoping to introduce Superchain. The Superchain is supposed to have the scalability of parallel chains and the composability of a single blockchain on an open-source stack which prioritizes decentralization, governance, and security.
GMX
GMX is a decentralized perpetual exchange that trades top cryptocurrencies. At press time it had a total trading volume of $107,750,846,941. Moreover, the exchange has two tokens: GMX and GLP. GMX is the utility and governance token and it accrues 30% of the platform’s generated fees while GLP, which is a liquidity provider token, accrues 70% of the platform’s generated fees.
The GMX price as of press time is $69.22. When considering the performance of the token for the past week, GMX has been battered with losses. Despite the bulls’ valiant efforts to reach the opening market price, GMX could not rise above. Currently, GMX is down 7.72% in the last 24 hours and its ranking is 78 with a market cap of $589,375,156.
Interestingly, on-chain data from Santiments showed that wallets with 100K to 1M GMX have bought 10 million tokens since the FTX collapse, worth around $20 million. Moreover, their purchasing power doesn’t appear to be slowing down!
Stacks (STX)
Stacks is a BTC layer for smart contracts that enables decentralized applications to trustlessly use BTC as an asset. Moreover, the platform could be used for settling transactions on the Bitcoin blockchain, it also enables building powerful apps secured by Bitcoin. Additionally, the language “Clarity” used in the development of smart contracts is designed to prevent exploits and bugs.
Looking at the price, STX was rectified after a false start to the week. The token was valued at an opening market price of $0.77 During the first two days of the week, the token was in the red zone, however, it recovered well towards the end of the week. As of press time STX is trading at $0.830491 and is down 9.09% in the last 24 hours. The token occupies the 46 position with a market cap of $1,133,787,486.
SSV Network
SSV is described as a decentralized staking infrastructure for building high-performance, secure and decentralized Ethereum. Apart from being one of the top-performing cryptos for this week through its surge, SSV has managed to become one of the winners of the most trending cryptos.
While it continues to build and make a mark in the crypto world, SSV recently shared its updates for the new year on Wednesday. One of the updates mentioned that the ssv network Grants ecosystem has expanded with six new grants approved for execution.
Moreover, ssv network launched a $50 Million ecosystem fund to support the Ethereum PoS decentralization. The network also promised that it will continue to expand and become more focused on becoming community-driven. They are focusing on improving the structure and flow of decision-making inside the DAO. These are just a few of the things that have made SSV popular.