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The cryptocurrency market has registered significant gains since the beginning of 2023. Metaverse coins have joined the trend, with many displaying recognizable volatility, providing for increased trading and an influx of capital.
An aggregation by CoinmarketCap ranks the metaverse tokens by market capitalization, summarizing the value of the projects and reflecting the momentum that could support future growth. Based on their market caps, the top five metaverse tokens on CoinmarketCap include ApeCoin APE, Internet Computer ICP, Stacks STX, Decentraland MANA, and Theta Network THETA.
ApeCoin (APE)
ApeCoin is an ERC-20 token based on the Ethereum blockchain. It is a utility token used to empower and reward members of the APE community participating in building Web3 products within the APE Ecosystem. According to CoinmarketCap, ApeCoin has a market capitalization of $1.51 billion, making it the most capitalized metaverse token at the time of writing. It ranked in the 40th position among cryptocurrencies and traded for $4.09 as of press time.
Read Also : Apecoin (APE) Price Prediction 2023-2030
Internet Computer (ICP)
With a market capitalization of $1.50 billion, Internet Computer’s ICP is the 41st-ranked token among all cryptocurrencies, making it the second-highest performing metaverse token on CoinMarketCap. It is the token behind the innovative “World Computer” blockchain project for building various online systems or services without needing traditional IT. ICP traded for $5.03 as of the time of writing.
Read Also : Internet Computer (ICP) Price Prediction 2022-2030
Stacks (STX)
Stacks’ native token, STX, is the 42nd-ranked cryptocurrency on CoinMarketCap, and the third-largest metaverse token by market capitalization. The market capitalization of STX is $1.31 billion, and its token price as of the time of writing was $0.96 per CoinMarketCap. Stacks is a layer 2 protocol on the Bitcoin blockchain that enables smart contracts development and allows decentralized applications to use BTC in transaction settlement.
Read Also : Stacks (STX) Price Prediction 2023-2030
Decentraland (MANA)
A market capitalization of $1.09 billion classifies MANA as the 49th cryptocurrency, according to CoinmarketCap’s ranking. It is the fourth most capitalized metaverse token and traded at $0.59 at the time of writing. Decentraland is a virtual reality (VR) platform powered by the Ethereum blockchain. It allows content creation by users who can also monetize such content and applications.
Read Also : Decentraland (MANA) Price Prediction 2022-2030
Theta Network (THETA)
Theta Network’s THETA token is the 5th largest metaverse coin and the 51st cryptocurrency by overall ranking on CoinmarketCap. THETA’s market capitalization at the time of writing was $1.02 billion and is traded at $1.02. THETA Network is a video streaming blockchain project where users share bandwidth and computing resources on a peer-to-peer basis.
Read Also : Theta Network (THETA) Price Prediction 2023-2030