by Jamie Redman
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.
The top smart contract tokens by market capitalization have increased a great deal during the last two months ahead of Ethereum’s highly anticipated Merge. When The Merge takes place, the second largest crypto asset by market capitalization, and the largest smart contract token by valuation, Ethereum (ETH), 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.
There’s $316 billion in collective value among the top smart contract crypto assets according to coinmarketcap.com data. The top five smart contract tokens in terms of valuation include ethereum (ETH), bnb (BNB), cardano (ADA), avalanche (AVAX), 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 it tapped a low of 877 per ether on June 17. BNB was trading for $228 on June 23 and ADA was $0.47 per unit. 80 days ago, AVAX was trading for $17.92 and chainlink (LINK) was $6.97. LINK was ahead of ETC on that day but chainlink is now below ethereum classic since ETC’s recent rise.
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%, aergo (AERGO), up 118.57%, and enecuum (ENQ), which gained 112.86%. The week’s biggest losers in terms of smart contract coin losses during the past week include salt (SALT), down 35.82%, edgeware (EDG), down 13.28%, and aurora (AOA), down 10% this week.
What do you think about the gains smart contract tokens have seen leading up to The Merge and Cardano’s Vasil hard fork? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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