It is not by accident or peradventure that some of the trending cryptos on DEXtools in the cryptocurrency market presently are ERC-20 “wrapped” tokens. The reason behind creating “wrapped” tokens comes with navigating Web 3.0. Decentralized finance encourages and facilitates the use of tokens on several blockchains. By their very nature, traditional cap tokens cannot be used on multiple blockchains because they are not flexible enough for the process, hence the need to “wrap” these tokens in smart contracts so they can be used on several blockchains.
Consequently, the flexibility of wrapped tokens affords holders the ease of blockchain cryptocurrency transactions. The demand for these tokens has increased, and the market responds by supplying more wrapped tokens. More wrapped tokens are on presale, while even more are being developed. With new tokens, more services are provided, more crypto demographics are catered to through communities, and more value is added to the token.
The top trending crypto coins are tokens that investors should be on the lookout for. Having these tokens on your watchlist allows you to monitor the most viable coins that have already garnered popularity in the crypto ecosystem. The top trending coins on DEXtool are trendy for a reason which is unraveled in this article, but it also further nudges investors to shift their focus to these coins.
1. HEX (HEX)
HEX is a prominent ERC-20 token operating on the Ethereum network, positioning itself as a blockchain-based Certificate of Deposit (CD). Despite its launch on December 2, 2019, HEX remains a popular asset in the market.
Traditionally, Certificates of Deposits serve as evidence of history for storing value in traditional financial markets. However, HEX replaces these physical documents by becoming a store of value on the Ethereum blockchain. It is also designed to facilitate Decentralized Finance (DeFi) operations within the cryptocurrency space on the Ethereum network.
HEX utilizes the Ethereum Network to send and receive HEX tokens to enable transactions. Its smart contract incorporates various other protocols on the platform.
HEX is structured to discourage actions that could diminish the token’s value while providing users with the option to stake their held HEX coins for issuance rewards in new HEX tokens. Validators face consequences for ending a stake prematurely, while larger and longer-term stakes are rewarded.
Acquiring HEX tokens can be achieved through different methods, including exchanging Ethereum tokens (ETH) for HEX, but only within the first year of HEX’s launch. Additionally, HEX is distributed to Bitcoin holders during the same period, with 1 Bitcoin equaling 10,000 HEX coins. This distribution process involves taking a snapshot of the Bitcoin Unspent Transaction Output (UTXO).
HEX users have opportunities to obtain more HEX coins, particularly if there are unclaimed HEX coins held by Bitcoin holders. Active users with high stakes also stand a chance to earn more HEX coins. Designed with a 3.69% annual inflation rate after its first year, HEX’s token supply is carefully controlled to maintain its value.
2. Wrapped BNB (WBNB)
Wrapped BNB (WBNB) is the wrapped version of BNB, the native token of Binance, one of the most popular cryptocurrency exchanges worldwide. WBNB is pegged to the value of BNB, meaning its worth is proportional to the Binance Coin.
BNB operates on its own blockchain, which also accommodates Wrapped BNB. However, thanks to its smart contract, WBNB can transact on other blockchains as well. The token can be utilized in Decentralized Applications (DApps) due to its smart contract support on the BNB blockchain or Binance Smart Chain.
Similar to Wrapped ETH and Wrapped BTC, Wrapped BNB contributes to liquidity pools, providing liquidity to the cryptocurrency market. It also participates in yield farming and transactions on decentralized exchanges.
The primary objective of WBNB is to enhance the operations and sustainability of the BNB network. It encourages interactions between the BNB blockchain and other blockchains, such as Ethereum, Solana, Avalanche, and Polygon, which are crucial for Web 3.0 and decentralized finance transactions. With the growing demand for decentralized services, WBNB is expected to witness increased demand, ultimately benefiting BNB as it remains pegged to Wrapped BNB.
Hot Pairs on DEXTools
3. FeatherCoin (FTC)
FeatherCoin has emerged as one of the top trending crypto coins, and users can acquire the FTC token through mining. The project’s developers claim that FTC appreciates at a faster rate compared to Bitcoin, with a healthy supply and circulation ensured by producing the token at 60 seconds per block, rewarding 40 FTC for each block mined. As the native token of the Feathercoin platform, FTC encourages utility.
Launched in the first quarter of 2013, Feathercoin offers secure and user-centric wallets, frequently updated with Bitcoin core releases. The platform facilitates easy transactions of FTC through its mobile wallet, operating within the decentralized finance realm.
FTC’s appeal lies in its affordable transaction fees, which eliminate the need for merchants to transfer transaction costs to customers, making it an efficient choice for both merchants and customers. Transactions conducted on the platform are claimed to be quick and near-instantaneous. As of now, the total supply of FTC is $336,000,000, with a circulating supply of $236,600,238.
4. Wrapped Pulse (WPLS)
Wrapped Pulse is an ERC-20 token specifically designed to operate on the PulseChain platform, which runs on the Ethereum blockchain. Currently, the token has a supply value of 0, implying that it might still need to be actively distributed or in circulation.
The primary purpose of creating Wrapped Pulse is to expand the capabilities of the Ethereum blockchain to other blockchains, allowing for interoperability and cross-chain operations.
As of now, information regarding the circulating supply and maximum supply of Wrapped Pulse has yet to be made available. This lack of data might be due to the token being in the early stages of development or not yet publicly accessible.
Please note that the situation may evolve over time, and it’s always essential to stay updated with the latest information from reliable sources about Wrapped Pulse and its development on the PulseChain platform.
What Might Be The Next Top Trending Crypto?
Chimpzee is at the forefront of innovation with its pioneering concept: creating the world’s first decentralized Web 3 platform for climate change. This platform operates on the Chimpzee token, a catalyst for revolutionizing eco-friendly operations and bringing substantial user benefits.
By leveraging the power of decentralized technology, Chimpzee offers a host of advantages to users on the platform. For environmental development, it opens up new opportunities for global exposure and access to various projects across industries. They can enjoy greater autonomy, transparency, and security in their transactions, ensuring fair compensation for their skills and expertise.
On the other hand, the world will benefit from a vast pool of talented and verified professionals in eco-friendly operations, making it easier to find the perfect fit for their projects. The decentralized nature of the platform reduces intermediaries, streamlining the hiring process and cutting unnecessary costs.
Participants can confidently engage in secure and efficient transactions with the Chimpzee token as the platform’s backbone. The token facilitates fast and cost-effective payments, eliminating traditional payment gateways’ delays and associated fees.
Tokens decrease as the #Presale progresses🎁
🎉Claim your tokens, and after presale ends receive these extra $CHMPZ as an airdrop to your wallet!📩💎
— Official Chimpzee Project (@RealChimpzee) July 29, 2023
As Chimpzee disrupts the conventional ecosystem, it fosters a community that values trust, collaboration, and innovation. Through its decentralized Web 3 platform, Chimpzee redefines how eco-friendly operations and employers interact, setting a new standard for the future of work in environmentally conscious fields.
Chimpzee’s groundbreaking approach to the eco-friendly operations industry and its integration of innovative technologies position it as a leader in the new frontier of Web 3-powered platforms. As the industry evolves, Chimpzee emerges as a revolutionary force, offering unparalleled benefits to professionals in eco-friendly operations and employers committed to environmentally conscious projects.
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