Smart Contract Platform Tokens Market Claims 26% of Crypto Economy

Smart Contract Platform Tokens Market Claims 26% of Crypto Economy

The smart contract platform tokens have registered robust growth this week, with the top ten performers all gaining against the US dollar. The gains ranged from ethereum’s (ETH) 4.2% rise to Solana’s (SOL) 32.5% surge. 32 crypto assets achieved double-digit percentage gains in the smart contract coin sector, beginning with OMG’s 10.2% and reaching JUNO’s 110.8%. 

Smart Platform Tokens Market Capitalization Valued at USD 357 Billion 

Smart contract coins have had a successful week, with a collective market rise of 1.6% on the last day. The platform token market capitalization was valued at USD 357 billion on November 5, accounting for 26% of the total crypto economy.

Ethereum (ETH) dominated the space with 62.18% of the market share and an appreciation of 4.2% in valuation this week. While BNB registered an increase of 4.9% and SOL gained 32.5% during the week. 

Cardano (ADA) gained 12.4% against the dollar, Tron (TRX) rose by 3.4%, and Chainlink (LINK) was up by 4.4%. Five smart contract tokens registered robust growth exceeding more than 35%, with Juno (JUNO) skyrocketing by 110.8%, Bitrock (BROCK) rising by 69%, followed by Phantasma (SOUL) with a 49.3% gain.

Multiversx (EGLD) increased by 47.4%, and immutable X (IMX) advanced by 35.4% against the dollar. However, not all smart contract coins had a favorable week from October 29 to November 5, 2023.

Viction (VIC) declined by 25.4%, Cypherium (CPH) fell by 14.5%, and Meter Governance (MTRG) dipped by 7.9%. Concordium (CCD), Canto (CANTO), Chromia (CHR), and Bytom (BTM) all recorded downfalls ranging between 7% and 3.1%.

Ethereum Commands 62% of the Smart Contract Token Economy 

The top 100 smart contract crypto assets make USD 14.12 billion in day trading. While ETH commands 62% of the smart contract token economy, the top ten smart contract coins collectively control 90.75%, or USD 324 billion, of this market segment.

What do you think of the top smart contract token economy expanding in value over the past week? Please share your thoughts and opinions in the comments section below.