Miguel Lopez The digital currency landscape has experienced a positive momentum this past week, especially in the realm of smart contract platform tokens. The leading ten cryptocurrencies in this segment have all seen an appreciable rise in value when paired against the U.S. dollar. Ethereum (ETH) reported a modest increase of 4.2%, while Solana (SOL) led the charge with an impressive 32.5% gain. A total of 32 smart contract-associated cryptocurrencies enjoyed growth in the double-digit percentages, with gains starting at 10.2% for OMG Network and peaking with a 110.8% rally for JUNO.
Smart Contract Platforms Surge in Market Presence
The past week has witnessed a notable surge for smart contract tokens, culminating in a combined market increase of 1.6% over the previous day. As of today, these tokens command a combined market capitalization of $357 billion, representing 26% of the entire cryptocurrency market’s valuation.
Ethereum (ETH) continues to lead the pack, contributing 62.18% to the sector’s market cap and enjoying a 4.2% growth over the week. Binance Coin (BNB) closely follows with a 4.9% appreciation. Solana (SOL) outperformed several peers with its 32.5% rise during the same period.
Performance Snapshot as of November 5, 2023, for Smart Contract Platform Tokens
The upward trajectory was not limited to the biggest names. Cardano (ADA) and Chainlink (LINK) saw their value against the dollar rise by 12.4% and 4.4%, respectively. TRON (TRX) posted a more moderate 3.4% increase. Exceptionally, five smart contract tokens recorded gains of over 35%, with JUNO’s value skyrocketing by 110.8%. Bitrock (BROCK) also made significant headway with a 69% increase, and Phantasma (SOUL) saw a robust 49.3% appreciation.
Other tokens like Multiversx (EGLD) enjoyed a 47.4% gain, and Immutable X (IMX) climbed by 35.4% against the dollar. Despite the overall positive trend, certain smart contract coins did not partake in the bullish wave from October 29 to November 5, 2023.
Viction (VIC) witnessed a 25.4% decline, Cypherium (CPH) dropped by 14.5%, and Meter Governance (MTRG) fell by 7.9%. Other coins including Concordium (CCD), Canto (CANTO), Chromia (CHR), and Bytom (BTM) experienced decreases ranging from 7% to 3.1%.
Additionally, the top 100 smart contract cryptocurrencies saw a total of $14.12 billion in transactions over the course of one day. While ETH continues to dominate with over 62% market share of this niche, the top ten smart contract coins collectively hold an impressive $324 billion, accounting for 90.75% of the segment’s market cap.
How do you evaluate the recent expansion in the market value of the leading smart contract tokens? We invite you to express your views and analyses on this topic in the comments section below.
Table Of Contents
Frequently Asked Questions (FAQs) about Smart Contract Tokens Market
What is the current market cap of smart contract platform tokens?
The combined market capitalization of smart contract platform tokens stands at $357 billion as of November 5, 2023, which is 26% of the total cryptocurrency market value.
How much did Ethereum’s value change in the past week?
Ethereum’s value appreciated by 4.2% over the past week, maintaining its dominant position in the smart contract token sector.
Which smart contract token saw the highest gain in the recent market upturn?
JUNO saw the highest increase with a 110.8% surge in its value during the recent market upturn.
Did all smart contract platform tokens experience gains in the last week?
No, not all smart contract platform tokens experienced gains; Viction (VIC), Cypherium (CPH), and Meter Governance (MTRG) saw declines ranging from 7.9% to 25.4%.
Ethereum holds a 62.18% market share within the smart contract platform sector, a testament to its leading position in the market.
More about Smart Contract Tokens Market
- Smart Contract Platform Market Overview
- Ethereum’s Current Market Dominance
- JUNO Leads Gains in Smart Contract Tokens
- Smart Contract Tokens Weekly Performance Analysis
- Cryptocurrency Market Trends
5 comments
Juno is on fire!!! this is what happens when a project gets real world adoption ppl…
not suprising to see eth leading the pack it’s been the go to for smart contracts for ages now, the tech is just solid
let’s take a moment and appreciate SOL’s gain, it’s been through a lot but its bouncing back strong
kinda worried about the losses some of these coins are taking, what’s up with VIC dropping so much
Cardano’s steady growth is a good sign, slow and steady wins the race right