May 15, 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 15, 2022.
TOP 1 : TERRA LUNA
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, Terra price is $0.000191 USD with a 24-hour trading volume of $2,856,686,816 USD. Terra is down 9.18% in the last 24 hours. The current CoinMarketCap ranking is #211, with a live market cap of $1,250,210,487 USD. It has a circulating supply of 6,532,444,545,008 LUNA coins and the max. supply is not available.
TOP 2 : 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 $1.61 USD with a 24-hour trading volume of $675,568,228 USD. STEPN is up 11.48% in the last 24 hours. The current CoinMarketCap ranking is #59, with a live market cap of $968,001,654 USD. It has a circulating supply of 600,000,000 GMT coins and a max. supply of 6,000,000,000 GMT coins.
TOP 3 : 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 $4.76 USD with a 24-hour trading volume of $103,685,940 USD. PancakeSwap is up 6.24% in the last 24 hours. The current CoinMarketCap ranking is #44, with a live market cap of $1,409,976,350 USD. It has a circulating supply of 296,067,550 CAKE coins and a max. supply of 750,000,000 CAKE coins.
TOP 4 : TEZOS
Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.
This open-source platform bills itself as “secure, upgradable and built to last” — and says its smart contract language provides the accuracy that is required for high-value use cases. According to Tezos, its approach means that it is futureproof and will “remain state-of-the-art long into the future,” meaning it can embrace developments in blockchain technology.
The technology underpinning Tezos was first proposed in a white paper that was released in September 2014. After a series of delays, the Tezos mainnet launched four years later.
At the time of writing, Tezos price is $1.84 USD with a 24-hour trading volume of $52,581,155 USD. Tezos is up 4.91% in the last 24 hours. The current CoinMarketCap ranking is #40, with a live market cap of $1,649,583,638 USD. It has a circulating supply of 894,888,704 XTZ coins and the max. supply is not available.
TOP 5 : BEEFY FINANCE
Beefy Finance is a Decentralized, Multi-Chain Yield Optimizer platform that allows its users to earn compound interest on their crypto holdings.
Through a set of investment strategies secured and enforced by smart contracts, Beefy Finance automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem.
The main product offered by Beefy Finance are the ‘Vaults’ in which you stake your crypto tokens. The investment strategy tied to the specific vault will automatically increase your deposited token amount by compounding arbitrary yield farm reward tokens back into your initially deposited asset. Despite the name ‘Vault’ suggests, your funds are never locked in any vault on Beefy Finance: you can always withdraw at any moment in time.
DeFi applications are unique in the sense that they are permissionless and trustless, meaning that anyone with a supported wallet can interact with them without the need for a trusted middleman. While you have funds staked in a vault, you remain 100% in control of your crypto.
At the time of writing, Beefy Finance price is $792.26 USD with a 24-hour trading volume of $18,406,587 USD. Beefy Finance is down 10.30% in the last 24 hours. The current CoinMarketCap ranking is #393, with a live market cap of $57,042,874 USD. It has a circulating supply of 72,000 BIFI coins and a max. supply of 80,000 BIFI coins.