May 08, 2022 by Trending Crypto News : find below the five most searched cryptocurrencies of this week.
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There are thousands of different cryptocurrencies, which can make you lost when you are first getting started in cryptocurrency world.
Thus, a number of cryptocurrencies have managed to come out on top; those crypto gems that make you want to invest.
This weekly post aims then to make you aware of the most searched cryptocurrencies. Based on researches from Coinmarketcap and another exchanges, these are the most top 5 digital currencies trending of May 08, 2022.
TOP 1 : STEPN
STEPN is a Web3 lifestyle app with fun social elements and gamification design. Users equipped with NFT Sneakers — walk, jog or run outdoors to earn GST, which can be used to level up and mint new Sneakers.
Player can choose to lease or sell their NFT Sneakers on the in-app Marketplace; users’ GST earnings are stored in the in-app Wallet, which has a built-in Swap function.
At the time of writing, STEPN price is $2.69 USD with a 24-hour trading volume of $2,092,830,308 USD. STEPN is up 4.11% in the last 24 hours. The current CoinMarketCap ranking is #51, with a live market cap of $1,611,771,459 USD. It has a circulating supply of 600,000,000 GMT coins and a max. supply of 6,000,000,000 GMT coins.
TOP 2 : PANCAKESWAP
PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.
It launched in September 2020 and is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return.
At the time of writing, PancakeSwap price is $7.01 USD with a 24-hour trading volume of $128,379,351 USD. PancakeSwap is down 5.03% in the last 24 hours. The current CoinMarketCap ranking is #43, with a live market cap of $2,071,460,563 USD. It has a circulating supply of 295,548,224 CAKE coins and the max. supply is not available.
TOP 3 : BakeryToken
Launched in September 2020, BakeryToken (BAKE) is a part of the BakerySwap ecosystem. Liquidity providers are rewarded with BAKE tokens which can be used to earn a share of BakerySwap’s trading fees and to participate in voting as part of BakerySwap’s governance process.
BakerySwap is a decentralized automated market-making (AMM) protocol that is based on the Binance Smart Chain (BSC). The BAKE token is a native BEP-20 governance token on the platform.
Users have the ability to earn BAKE tokens by providing liquidity on BakerySwap, and BAKE holders can use their tokens for governance voting and to receive transaction fee dividends. The BAKE rewards are offered in several liquidity pools, initially including BTC, ETH, DOT, LINK, BUSD and BAKE versus BNB.
At the time of writing, BakeryToken price is $0.506738 USD with a 24-hour trading volume of $31,712,257 USD. BakeryToken is down 4.32% in the last 24 hours. The current CoinMarketCap ranking is #340, with a live market cap of $98,068,729 USD. It has a circulating supply of 193,529,485 BAKE coins and the max. supply is not available.
TOP 4 : TerraUSD
TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage.
TerraUSD provides several benefits that have made it a stand-out stablecoin competitor. Due to its minting mechanism, UST meets the requirements of DeFi protocols that it uses without losing scalability. UST can also be easily added to crypto wallets by simply integrating TerraUSD as a payment method. Another area where TerraUSD has shown its power is DApps. For example, platforms that mint fungible synthetic assets and track real-life asset prices use UST as a pricing benchmark.
TerraUSD (UST) was launched in September 2020 (in collaboration with Bittrex Global) and has since gained the reputation as the most scalable stablecoin. UST can be used in conjunction with LUNA, Terra’s non-stablecoin crypto, or as a standalone token.
At the time of writing, TerraUSD price is $0.996131 USD with a 24-hour trading volume of $2,144,597,785 USD. TerraUSD is down 0.45% in the last 24 hours. The current CoinMarketCap ranking is #10, with a live market cap of $18,679,926,207 USD. It has a circulating supply of 18,752,472,949 UST coins and the max. supply is not available.
TOP 5 : IOTA
IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.
In time, IOTA’s goal is to become the de facto platform for executing transactions between IoT devices. Given how estimates suggest there could be 20.4 billion such devices out there by 2024, this could end up being big business.
The team behind IOTA believe that the potential use cases don’t end here. They believe their distributed ledger could deliver digital identities to all, result in car insurance policies that are based on actual usage, pave the way for cutting-edge smart cities, deliver seamless global trade and prove the authenticity of products.
At the time of writing, IOTA price is $0.472487 USD with a 24-hour trading volume of $27,243,819 USD. IOTA is down 3.21% in the last 24 hours. The current CoinMarketCap ranking is #62, with a live market cap of $1,313,292,250 USD. It has a circulating supply of 2,779,530,283 MIOTA coins and a max. supply of 2,779,530,283 MIOTA coins.
TrendingCryptoNews May 08, 2022
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