With The Merge coming next week and Cardano’s Vasil hard fork commencing soon after, the market capitalization of the top smart contract tokens by valuation increased 1.19% during the past 24 hours to $316 billion on September 11, 2022. Moreover, the market capitalization of the top smart contract crypto assets today has increased 44.35% against the U.S. dollar since the end of June.
Top smart contract tokens by market capitalization gain over 80 percent in 44% days
The top smart contract tokens by market capitalization have grown significantly during the past two months ahead of the much-anticipated merger with Ethereum. When the merger occurs, Ethereum (ETH), the second largest crypto asset by market capitalization, and the largest smart contract token by valuation, will transition from proof-of-work (PoW) to proof-of-stake (PoS).
Ethereum has gained a decent amount of value leading up to The Merge which is scheduled to happen in just over two days or around September 14, 2022. In addition to The Merge, the Cardano blockchain network is expected to upgrade on September 22. At the time of writing on September 11, 2022, the aggregate USD value of the top smart contract tokens by valuation is up 1.19% today.
According to Coinmarketcap.com data, the top smart contract crypto assets collectively have $316 billion in value. The top five smart contract tokens by valuation include Ethereum (ETH), BNB (BNB), Cardano (ADA), Avalanche (AVX) and Ethereum Classic (ETC), respectively.
During the last week ETH increased by 12.52%, BNB jumped by 6.05%, ADA swelled by 2.67%, AVAX gained 8.15%, and ETC increased by 19.34%. Smart contract token prices are a lot higher than they were 80 days ago when the aggregate total value of all of them was $218.9 billion on June 23, 2022.
On that day, ETH was exchanging hands for $1,132 per unit after hitting a low of 877 per ether on June 17th. BNB was trading at $228 on June 23 and ADA was at $0.47 per unit. 80 days ago, AVAX was trading at $17.92 and Chainlink (LINK) was at $6.97. LINK was ahead of ETC that day but Chainlink is now below Ethereum Classic since the recent rise of ETC.
The total value locked in decentralized finance (defi) protocols jumped as well since June 23 as the TVL was around $55.29 billion. Today, defillama.com stats show the TVL is around $60.26 billion or an increase of around 8.98% since then.
The biggest smart contract token gainers this week include LiquidApps (DAPP), up 124.05%, Ergo (AERGO), up 118.57%, and Enqueue (ENQ), up 112.86%. The biggest losers of the week include Salt (SALT), down 35.82%, Edgeware (EDG), down 13.28%, and Aurora (AOA), down 10% this week, in terms of smart contract coin losses over the past week.
