Cardano is one of the largest cryptocurrency ecosystems in the market. According to data from Coingecko, the blockchain’s native token ADA is ranked 11th on the list of the top cryptocurrencies with a market capitalization of $16.40 billion at the time of writing.
Founded by Charles Hoskinson, who was also the co-founder of Ethereum, Cardano is a blockchain that claims to offer a highly flexible, sustainable, scalable platform for running smart contracts. This allows for the development of a wide range of decentralized applications (DApps), cryptocurrencies, games, and so much more.
The third-generation blockchain is built on top of the technology pioneered by Bitcoin (BTC) and Ethereum (ETH).
Unlike other blockchains, tokens native to Cardano are not created via smart contracts. Instead, they run on the same architecture as the blockchain’s native asset ADA, making coins issued on Cardano “first-class citizens”.
Their native architecture theoretically makes these tokens more secure and also helps reduce the fees associated with transactions on the platform.
In today’s article, we will be looking at some of the leading cryptocurrencies that are issued on the Cardano network. So, without further ado, let us get started.
1. Cardano (ADA)
ADA is the cryptocurrency powering the Cardano blockchain. It is not surprising that ADA is also the leading token on the blockchain, in terms of users and market capitalization.
ADA is the fuel of the Cardano ecosystem and is used to pay transaction fees. It is also staked by validators and delegators who want to assist in maintaining the security and stability of the blockchain in exchange for earning rewards.
Price: $0.4641
Market Cap: $16,383,446,564
24-Hour Trading Volume: $293,816,365
Total Supply: 45,000,000,000
Circulating Supply: 35,338,629,578
2. Chainlink (LINK)
Chainlink is a protocol built on top of Cardano that aims to incentivize a global network of computers to provide reliable, real-world data to smart contracts that run on top of other blockchains.
The protocol is designed to act as a bridge between blockchain-based smart contracts and external data sources.
LINK is the native token of the Chainlink ecosystem. The cryptocurrency is built into the network and is the only token that can be used to conduct key operations within Chainlink.
LINK is used to pay node operators who retrieve data from real-world sources. Additionally, it is also used as a deposit required by smart contract creators and paid by the network’s oracles.
Price: $14.27
Market Cap: $8,388,460,711
24-Hour Trading Volume: $293,876,411
Total Supply: 1,000,000,000
Circulating Supply: 587,099,971
3. SingularityNET (AGIX)
SingularityNET is a decentralized artificial intelligence (AI) marketplace that leverages the power of blockchain technology to provide unrestricted access to algorithms and applications. The main goal of the protocol is to create an artificial general intelligence (AGI) with far-reaching capabilities.
The project was co-founded by Dr. David Hanson, who is also the founder and CEO of Hanson Robotics, the company best known for developing ‘Sophia’ – the world’s first AI-powered humanoid robot.
SingularityNET is powered by the AGIX token, which is issued on the Cardano network. The cryptocurrency is used to pay for all transactions within SingularityNET and can be held to gain voting rights on governance proposals for the protocol.
Price: $0.9673
Market Cap: $1,236,305,832
24-Hour Trading Volume: $128,844,241
Total Supply: 1,401,796,166
Circulating Supply: 1,282,172,952
4. Nexo (NEXO)
Nexo is a leading crypto-centric financial services and lending platform with over 6 million users worldwide. The platform founded by Antoni Trenchev aims to provide a top-notch financial system within the world of cryptocurrencies by offering crypto-backed loans that don’t rely on credit scores.
Nexo is a centralized finance (CeFi) platform that allows users to borrow instantly in over 30 cryptocurrencies, including stablecoins like USDT or USDC, in addition to buying, selling, and swapping a wide range of major crypto assets.
NEXO is the native token of the crypto lending ecosystem. The cryptocurrency issued on the Cardano blockchain is considered the world’s first globally compliant, dividend-paying, asset-backed token.
With the NEXO coin, Nexo users can enjoy benefits, including high earning and low borrowing interest rates, and depending on the number of tokens they hold against their portfolio will be automatically placed in the platform’s loyalty program.
Price: $1.26
Market Cap: $707,533,975
24-Hour Trading Volume: $4,322,460
Total Supply: 1,000,000,000
Circulating Supply: 560,000,008
5. Minswap (MIN)
Minswap is a multi-pool decentralized finance (DeFi) exchange built on top of the Cardano blockchain. The exchange functions as an Automated Market Maker (AMM) that enables users to become liquidity providers by facilitating trades through algorithms.
The platform simplifies trading by offering various specialized pools that are designated for different trading pairs. With this multi-pool setup, liquidity providers can choose the most profitable pool on Minswap for their specific trades, potentially increasing their earnings.
MIN is the native cryptocurrency of the decentralized exchange (DEX). The token has various utilities within the Cardano ecosystem, like staking MIN to earn ADA that comes directly from the platform’s trading fees, and MIN holders getting the right to vote on governance decisions regarding Minswap.
Price: $0.02634
Market Cap: $30,313,371
24-Hour Trading Volume: $90,425
Total Supply: 3,000,000,000
Circulating Supply: 1,151,015,345
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