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Ethereum, one of the largest blockchains in the crypto space, hosts hundreds of tokens. Today, we list three projects vying for the position of the most trending cryptos.
The Ethereum chain boasts a jaw-dropping market cap of $327.65 B. It houses thousands of digital assets, some achieving substantial gains while others are poised to follow suit. Today, the blockchain saw the prices of three coins, API3, GraphLinq, and SHITZU, surge remarkably in the last 24 hours.
This upswing and other vital factors have earned them a spot among the most trending coins on the Ethereum Chain. We take a cursory look at these factors.
Most Trending Cryptos on Ethereum Chain Today
Ether, the native currency of Ethereum (ETH), has been at the forefront of numerous groundbreaking innovations in blockchain-based finance. In a notice dated 2023, the SEC highlights the accomplishments of the Ethereum ecosystem in the background section. It acknowledged its significant contributions to the field. Unsurprisingly, we see thousands of projects trooping into the ecosystem, with many performing exceptionally. We’ll analyze three of the most trending cryptos of the Ethereum Chain.
1. API3 (API3)
API3 serves as a bridge between blockchain technology and traditional application programming interfaces (APIs). It aims to facilitate the creation, management, and potential monetization of decentralized APIs at scale.
Next, the project’s core objective is to provide timely, real-world data to smart contracts. This is particularly crucial in decentralized finance (DeFi) and supply chain management. The API3 token, an ERC-20 token on the Ethereum blockchain, holds significance in the ecosystem. It enables token holders to partake in governance.
Furthermore, the workings of API3 involve empowering API providers to operate their nodes, potentially eliminating reliance on third-party oracles. Also, it addresses the Blockchain Oracle Problem.
In addition, the project employs a lightweight middleware called Airnode. The Airnode is deployable in minutes, enhances transparency, and aims to reduce transaction fees. This approach makes API3 a practical solution for linking smart contracts with real-world data.
Moreover, API3 boasts diverse potential use cases, particularly in sectors reliant on real-time data. In decentralized finance, API3 can offer accurate and up-to-date cryptocurrency price data. This further enables smart contracts to execute trades based on the latest market information.
Similarly, in supply chain management, API3 can provide real-time data on product location, status, and other critical details. These functions automate various processes in the supply chain.
The uniETH/ETH Exchange Rate is now available on the API3 Market.$uniETH is the transparent and secure liquid staking token by @Bedrock_DeFi.
Start using this new data feed to build on-chain products across 16 blockchains today. pic.twitter.com/gYufiyi3RL
— API3 (@API3DAO) January 19, 2024
API3’s capacity to establish connections between APIs and smart contracts opens up numerous possibilities for blockchain integration across multiple industries. Moreover, the recent performance of API3 showcases a noteworthy 51.50% price increase in the last seven days. However, it outperforms the global cryptocurrency market, which has seen a downturn of -2.90%.
API3 demonstrates notable resilience with an increase compared to similar Polygon Ecosystem cryptocurrencies. This positive trend and their soon-to-be launching of Oracle Extractable Value (OEV) solution positions API3 as a potential standout within the market. Besides, it aligns well with its objectives in bridging the gap between blockchain and traditional APIs.
2. Shih Tzu (SHIH)
Shih Tzu (SHIH) stands out with a 30.00% price increase in the last seven days. It surpassed the global cryptocurrency market’s downturn of -2.80%. Also, it outperformed similar Ethereum Ecosystem cryptocurrencies, which exhibit a 12.70% increase.
Furthermore, SHIH is more than just a meme coin, with a dedicated focus on animal welfare through its NFT marketplace. Inspired by Shiba Inu and Dogecoin, SHIH aims to offer a fresh start for neglected animals by directing proceeds toward animal shelters.
Moreover, with its ShihWorld ecosystem, including services like ShihMask and ShihVerse, SHIH aims to enhance users’ financial well-being and connectivity. As a utility token on Ethereum and Binance Smart Chain, SHIH enables community empowerment. Also, the project emphasizes governance participation and a share in platform initiatives. This unique blend of meme coin dynamics and impactful philanthropy positions SHIH as an intriguing consideration for investors seeking a purpose-driven crypto investment.
Launched in April 2021, the SHIH token boasts a maximum total supply of 1 quadrillion tokens. Half of this supply was secured in Uniswap. Furthermore, the remaining portion was directed to Ethereum’s co-founder, Vitalik Buterin, aligning with the project’s commitment to animal service. This transfer to Buterin, often known for charitable endeavors, contributes to the greater good of the initiative.
Looking ahead, the platform envisions the introduction of a decentralized exchange (DEX) named ShihSwap. This DEX aims to serve as an ecosystem for dog meme coins, providing token holders with opportunities for staking.
3. GraphLinq Chain (GLQ)
GraphLinq Chain is purpose-built to support the GraphLinq Protocol and various decentralized applications (dApps). It functions as a Proof-of-Authority (PoA) blockchain.
The project’s core objective is to streamline the creation and execution of intricate automation in a decentralized and trustless manner. The aim is to eliminate the need for intermediaries.
Next, the EVM-compatible platform ensures seamless integration with Ethereum-based smart contracts and dApps. The GraphLinq Protocol simplifies creating and deploying user automation. It features essential components like the GraphLinq IDE, Instant Wizard App, Engine, and Marketplace.
Fueled by the GLQ native cryptocurrency, the GraphLinq Chain offers a robust foundation for decentralized automation. The GLQ native token is used for gas fees and transactions on the network.
👾 The TVL on #GraphLinq $GLQ Staking App has exceeded $2.5M on the #GraphLinqChain. ⛓️ A big shout-out to our thriving community for their unwavering support and trust.
Come be a part of our journey towards decentralized automation & AI! #GraphLinqCommunity
🌐 Stake now:… pic.twitter.com/ORJjh7rWz3
— GraphLinq Chain (@graphlinq_proto) January 18, 2024
Besides, the impressive 115.10% price increase in the last seven days showcases GraphLinq Protocol’s resilience amid market fluctuations. Further, it positions it as a noteworthy investment option within the evolving Polygon Ecosystem.
Again, the GLQ Token enables users to execute various processes over the blockchain. It does this by running a graph on the platform’s test net or their main net to automate tasks. Each time the graph executes one block, GLQ tokens will be burned.
The platform’s commitment to regional node distribution and plans for increased validator participation emphasize its dedication to decentralization and network security. This makes it a compelling choice for investors seeking a solid, forward-looking blockchain project.
4. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix (BTCMTX) emerges as a promising presale project, having garnered an impressive $8.6 million in funds. The coin distinguishes itself with a unique Bitcoin (BTC) mining approach, allowing users to stake their BTCMTX tokens and earn mining credits.
Big accomplishment for #BitcoinMinetrix!
Surpassing the $8,600,000 milestone! 🌐 pic.twitter.com/r3i9wdtSbg
— Bitcoinminetrix (@bitcoinminetrix) January 17, 2024
These credits are then utilized to access cloud mining power through a distinctive burning mechanism. Moreover, the project’s mission revolves around innovating the traditional BTC mining landscape. It provides users with an alternative and potentially more efficient method of engaging in mining activities.
Nevertheless, the staking model and the burning of mining credits introduce a novel aspect to the platform. This further creates an ecosystem where participants can actively contribute to the mining process.
Bitcoin Minetrix’s focus on redefining BTC mining could make it an intriguing choice for investors seeking diversity in their crypto portfolios.
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