10 most popular cryptocurrencies in the market

Highlights

• One of the problems facing Ethereum is its scalability, leading to high fees and slower transaction times. Avalanche addresses this problem
• com has gained massive exposure, signing a sponsorship deal with the home of the LA Lakers – the Staples Center
• Decentraland has its own metaverse that allows users to create, experience, and monetise their content and applications

It’s been an up-and-down month for cryptocurrency. Bitcoin reached all time highs before a dramatic drop to below US$60,000 for the first time since October. The drop of the biggest crypto led to the decline in several other altcoins, including several of the top ten by market cap.

Despite this, a number of coins have made some impressive gains over the past month and, if you look at the top ten among top 100 cryptos, you notice a common theme: many of them are gaming-related cryptos. This, no doubt, has everything to do with Facebook CEO, Mark Zuckerberg’s announcement of the Metaverse, earlier this month.

Additionally, the internet’s movement into its next incarnation has resulted in some other coins making good gains this month.

The knock-on effect of this has resulted in this top ten list.

Top ten performers on coinmarketcap on 22 November 2021 at 6:42 PM AEDT

Helium (HNT) 30 day gain + 106.69%

Helium is a decentralised blockchain designed for the Internet of Things (IoT) devices. The IoT refers to the interconnection of computing devices embedded in everyday objects, enabling them to send and receive data. Referred to as “The People’s Network”, it’s all about the decentralisation of the internet, which is supposedly the next evolution of the internet.

Helium is currently priced at US$43.56.

Voyager Token 30 day gain +124.91%

Voyager Token acts as a broker that provides retail and institutional investors with secured crypto asset trading. Voyager Token’s Smart Order Routing technology helps the platform connects instantly with more than twelve crypto exchanges, allowing investors to select the best exchange rate available for their transactions.

Voyager Token is currently priced at US$5.05.

WAX (WAXP) 30 day +167.43%

Another blockchain designed for e-commerce, WAX has gained traction this month, making considerable gains.

WAX created a suite of blockchain-based tools to optimise the blockchain’s utility.

WAXP is currently valued at US$0.8171.

IoTeX (IOTX) 30 day +184.10%

IoTeX offers decentralised platform for machine economics. IoTeX fuses blockchain and the internet of things (IoT) and builds smart city applications. The crypto has gained 5.46% in last 24 hrs.

IOTX is currently valued at US$0.19.

Crypto.com (CRO) 30 day +269.22%

The fact that this token contains the domain name Crypto.com, alone makes this one to watch out for given crypto’s speculative nature.

Indeed, Crypto.com has gained massive exposure, signing a sponsorship deal with the home of the LA Lakers – the Staples Center.

CRO is currently priced at US$0.6969.

Gala (GALA) 30 day +345.71%

The first of a host of gaming blockchains dominating the crypto space, Gala’s mission is to make blockchain games that users will actually want to play.

Since its launch in 2019, Gala Games has grown to 1.3 million monthly users with some 26,000 NFTs sold, with the most expensive piece valued at US$3 million

GALA is currently priced at US$0.3762.

Kadena (KDA) 30 day +348.60%

If you’ve been following our Cryptos in Action daily Winners and Losers chart, you’d have noticed Kadena as a mainstay of the winners list this month.

Billed as the blockchain that works for everyone, Kadena offers the security of Bitcoin with virtually free gas and smarter contracts.

KDA is currently priced at US$17.03.

Decentralised (MANA) 30 days +374.58%

Decentraland has its own metaverse that allows users to create, experience, and monetise their content and applications.

The announcement of Facebook’s metaverse, earlier this month, sent MANA soaring.

MANA is currently priced at US$3.77.

Image source © Moxumbic | Megapixl.com

The Sandbox (SAND) 30 days +434.67%

Similar to Decentraland, The Sandbox has achieved gains on the back of Facebook’s metaverse announcement.

The Sandbox, like Decentraland, introduces blockchain technology to the world of gaming.

SAND is currently priced at US$4.03.

Loopring  (LRC) 30 day +496.58%

Built on the Ethereum blockchain, Loopring is this month’s most popular crypto.

The main concept behind Loopring is to combine the basic elements of centralised and decentralised crypto exchanges to make a protocol that enjoys its unique advantages whilst eliminating inefficiencies.

LRC is currently valued at US$2.58.

The Verdict

As we can see from this list, the decentralised direction of the internet is catering to many of the more popular cryptocurrencies. In concurrence, the emergence of the metaverse and gaming’s movement towards virtual reality are drivers for gaming-related crypto’s popularity.

If these trends continue into 2022, it’s apparent that these will be tokens to watch out for.