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Highlights
- Ethereum-based coins have seen a roller coaster ride in the last few months.
- Majority of the coins such as DAI, Enjin, Sandbox are some of the investors’ favourite coins, especially post the Ethereum’s London Hard Fork update.
- On Monday, Ethereum was trading at US $3,121.03 with a with a 24-hour trading volume of US $ $20,728,500,176.
Ethereum, the second largest cryptocurrency after Bitcoin, has seen mixed fortunes. Particularly, the Ethereum-based coins which has had many ups and downs in recent months. But Ether rising once again, the coins too are staring at a possible rally.
Particularly, the Ethereum-based coins, which have seen a roller coaster ride in the last few months, are in huge demand. A majority of the coins such as DAI, Enjin, Sandbox are some of the investors’ favourite coins, especially post the Ethereum’s London Hard Fork update.
Ether’s idea while launching the upgrade was to create more transparency and ensure more trust in the future of this coin as a store of value. The hurray of upgrade was visible from the price rally as the market reacted well to the upgrade, resulting in Ether’s price hitting US $3,191 in the first week of August.
Also read: AXION (AXN) strong rally sends positive signs for investors
And even though, the news of US infrastructure bill and China’s PBOC banning cryptocurrencies briefly threatened Ether’s price, but Sunday’s rally should give the cryptocurrency much delight. On Monday, Ethereum was trading at US $3,121.03 with a with a 24-hour trading volume of US $20,728,500,176. At the time of writing (BST 12:30 pm), ETH was up by 11.90% in the last 24 hours.
The effect was visible on the Ethereum based coins as well as many of the coins were doing well on Monday’s trading session. Let’s look at top 5 Ethereum-based coins that one can explore from an investment perspective.
Aragon (ANT)
Aragon is an open-source software, which operates on Ethereum blockchain. It is primarily used to create and maintaining decentralized autonomous organizations (DAOs) and its network supports and facilitates communication between users and services.
Aragon Network is governed by its native currency ANT. It allows the users to the right to vote on proposals and participate in the network governance. Due to its utility and powerful infrastructure, it is able to connect multiple users at one go to participate in the protocol.
Also read: Can Raydium (RAY) crypto go past $20 by 2021-end?
On Monday, ANT was doing extremely well on the market and was up by 9.63%. At the time of writing, (BST 12:30 pm) ANT was trading at US $4.79 USD with a 24-hour trading volume of US $27,591,902. ANT’s market environment has been bullish, and many investors believe that its price could reach US $6 by the end of this year and US $10 by 2022.
Enjin Coin (ENJ)
Enjin Coin is another Ethereum-based token that allows the users to seamlessly to use the non-fungible tokens (NFTs) A project of Enjin Network, Enjin Coin allows the game developers to tokenize in-game items, which can be sold or traded with real value assets. Working on the ERC-20 protocol, Enjin coin allows the users to seamlessly create tangible NFTs and can be destroyed any time. Because ENJ’s supply is a limited, backing NFTs is the only way to regulate asset creation.
According to CoinMarketCap, the ENJ is trading at US $1.35 with a 24-hour trading volume of US $79,555,723. At the time of writing (BST 8:30 am), ENJ was up by 2.87% in the last 24 hours with a live market cap of US $1,125,085,447.
Also read: Is COTI crypto an evergreen investment option for investors?
Clover Finance (CLV)
Clover Finance (CLV), or simply Clover, aims to provide a one-stop blockchain infrastructure along with an EVM compatible framework for Substrate‑based applications. Founded in 2020, CLV is another Substrate-based Polkadot parachain and brings together decentralized networks with cross-chain compatibility. It has a smart contract layer, Defi protocol layer, and eApp layer which ensures the blockchain interoperability.
According to CoinMarketCap, the CLV is trading at US $1.12 with a 24-hour trading volume of US $45,854,563. At the time of writing (BST 12:30 pm), ENJ was up by 8.76% in the last 24 hours with a live market cap of US $144,580,660.
Centrifuge (CFG)
Centrifuge is a decentralized asset financing protocol, which aims to connect the real-world assets and DeFi. The main goal is to generate profits for assets in the otherwise volatile market. Today, more and more establishments are utlilising the Centrifuge blockchain to tokenize real assets and use them as collateral. Providing liquidity to the investors provides attractive rewards to the users and can be considered to be a real asset for short-term investments.
According to CoinMarketCap, the CFG is trading at US $1.26 with a 24-hour trading volume of US $225,513. At the time of writing (BST 12:30 pm), ENJ was up by 13.56% in the last 24 hours with a live market cap of US $123,100,003.
Bella Protocol (BEL)
Bella Protocol is designed in such a way to make the crypto banking simpler and accessible. The protocol targets the user experience and eliminates the high transaction fees and improves the transaction speed of the token. Bella's smart pool feature allows users to access the best yields available in the DeFi market.
As its build by the ARPA team, the security feature is top notch and allows the users to have full control of the data. Bella has been on an up and down ride so far, but experts believe that it has the potential to grow and consolidate as one of the leading Ethereum tokens. With BEL the users stand a chance to earn staking rewards and farm yield in the process as well.
According to CoinMarketCap, the BEL is trading at US $1.64 with a 24-hour trading volume of US $14,729,129. At the time of writing (BST 12:30 pm), ENJ was up by 4.35% in the last 24 hours with a live market cap of US $78,502,428.
