Top 16 web3 tokens

Jennifer Ezepue

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Top 16 web3 tokens

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Web3 tokens have become a hot topic in the world of cryptocurrency and blockchain technology. These tokens, built on decentralized networks like Ethereum, are powering the next generation of digital assets and applications. 

According to recent data, the total market capitalization of web3 tokens has surpassed $500 billion. This staggering figure highlights the growing interest and adoption of these tokens by investors and users alike. In addition, the number of active wallets holding web3 token has reached over 50 million, demonstrating the widespread participation in this emerging ecosystem. 

As we dive deeper into the world of web3 tokens, we’ll explore the exciting possibilities they offer for the future of finance and digital ownership.

What are Web3 Tokens?

Web3 tokens, also known as decentralized web tokens or crypto tokens, are digital assets that are built on blockchain technology and play a crucial role in the Web3 ecosystem. These tokens serve various purposes, including enabling transactions, providing access to services, facilitating governance, and incentivizing network participation.

Web3 tokens or coins are digital assets that enable the working of dApps, digital transactions, and smart contracts without the involvement of intermediaries.

Read more: Top 10 Web3 Companies In Dubai

Why should you Consider Investing in Web 3.0 Tokens in 2024?

Web3 tokens are obviously the trusted powerhouses for growth of the web3 landscape. Therefore, you can expect that web3 tokens will be the most popular picks for investing in the world of web3. The most popular web3 tokens can help you tap into the potential of web3 and capitalize on numerous opportunities. Here are the important reasons to invest in web3 coins in 2024.

1. Potential for Innovation 

Web3 coins are crucial assets for the next step in the evolution of the internet, which offers censorship-resistant and decentralized applications. You can invest in web3 crypto tokens and gain an early advantage with access to groundbreaking applications and technologies.

2. Diversification 

Another common reason to invest in web3 tokens is the opportunity for diversification. Web3 tokens can help in diversifying your investment portfolio beyond the scope of traditional assets such as stocks. 

3. Hedging against Inflation 

The reasons for finding web3 coins to buy in 2024 also include the possibility of hedging against inflation. Web3 coins offer an effective safeguard against inflation with their decentralized nature and limited supply.

4. Market Potential 

The web3 market is still growing and has a lot of potential for growth in the future. Investments in web3 tokens now can help you make the most of long-term gains with the growth of the market. It is important to note that web3 projects are expanding at a fast pace and would achieve broader adoption. Therefore, you can achieve promising returns in the long run with the market potential of web3. 

Read more: Top 10 Web3 Companies In USA

How to Buy Web3 Tokens or Web3 Coins?

To buy Web3 tokens or coins, you can follow these steps:

1.  Choose a Crypto Wallet: Select a crypto wallet that suits your needs and preferences. Popular options include Coinbase Wallet, MetaMask, and TrustWallet 

2. Set up Your Wallet: Create an account with your chosen wallet provider, providing your personal information and selecting a strong password. Make sure to note down the Secret recovery phrase or Seed Words provided by the wallet as a precautionary measure 

3. Buy Your Base Currency: Choose a cryptocurrency exchange platform and purchase a base currency such as Bitcoin, Ethereum, or Tether. These are commonly used to trade Web3 tokens 

4. Transfer Funds to Your Wallet: Log into your exchange account and withdraw your base currency to your crypto wallet. Provide your wallet address and the amount you want to transfer. After a short wait, your funds should appear in your wallet 

5. Find a Decentralized Exchange (DEX): Look for a decentralized exchange (DEX) that supports the wallet you chose in Step 2. Pancake Swap is an example of a DEX that can be used with the Binance wallet 

6. Buy Web3 Tokens: Connect your chosen DEX to your wallet and start trading. Select the Web3 token you want to buy from the list and enter the desired amount 

7. If Web3 Tokens Are Not Listed: If you can’t find the specific Web3 token you’re looking for on the DEX, you can use platforms like bscscan or etherscan to locate the token’s smart contract address. Copy the address and paste it into Pancake Swap or a similar platform 

Related post: Top 10 Web3 Companies In Nigeria

Top 16 web3 tokens

Top Web3 Coins You Should invest in 2024 

1. Solana

Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL.

Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018.

Solana’s total market cap was US$55 billion in January 2022. However, by the end of 2022, this had fallen to around $3 billion following the bankruptcy of FTX. Following the general rise of the cryptocurrency market in 2023, its market cap rose to $7 billion.

Token NameSolana
Launch Date2020
Ticker SymbolSOL
Blockchain Solana blockchain
Current Price$ 178.16 per (SOL / USD)
Market Capitalization$ 80.02B USD
CategoryCryptocurrency and blockchain platform
Use CaseSolana is designed for high-throughput decentralized applications (DApps) and crypto-currencies. It offers fast transaction speeds and low costs, making it ideal for DeFi, NFTs, and other blockchain-based applications.
Websitehttps://solana.com/

2. Ethereum

Ethereum is a decentralized blockchain with smart contract functionality. Ether (Abbreviation: ETH) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization.

It is open-source software. Ethereum was conceived in 2013 by programmer Vitalik Buterin. 

Ethereum allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact. Decentralized finance (DeFi) applications provide financial instruments that do not directly rely on financial intermediaries like brokerages, exchanges, or banks. 

Ethereum allows users to create and exchange non-fungible tokens (NFTs), which are tokens that can be tied to unique digital assets, such as images.

Token NameEthereum 
Launch Date2015
Ticker SymbolETH
Blockchain Ethereum blockchain
Current Price$ 455.29B USD
Market Capitalization$ 455.29B USD
CategoryCryptocurrency and blockchain platform
Use CaseEthereum’s native token, ETH, is used to pay for transaction fees and computational services on the network.
Websitehttp://ethereum.org/

3. Avalanche

Avalanche, launched is a highly scalable and efficient blockchain platform designed for decentralized applications (DApps) and custom blockchain networks. Developed by Ava Labs, Avalanche aims to offer a robust solution to the limitations faced by earlier blockchain networks, such as scalability and transaction speed. AVAX is the native cryptocurrency of the platform.

Token NameAvalanche
Launch Date2020
Ticker SymbolAVAX
Blockchain Avalanche blockchain
Current Price$ 36.73 per (AVAX / USD)
Market Capitalization$ 14.06B USD
CategoryCryptocurrency and blockchain platform
Use CaseThe AVAX token is used for transaction fees, staking, and participating in network governance.
Websitehttps://avax.network/

4. Binance Coin

Binance Coin (BNB) is the native token for Binance’s blockchain. It can be used like many other cryptocurrencies as a payment method for products and services globally.

Token NameBinance Coin
Launch Date2017
Ticker SymbolBNB
Blockchain Initially Ethereum (ERC-20), now Binance Smart Chain (BNB Chain)
Current Price$ 618.12 per (BNB / USD)
Market Capitalization$ 91.23B USD
CategoryExchange Token
Use CaseTransaction fee discounts on Binance, participation in token sales, transaction fees on Binance Chain, and more
Websitewww.binance.com

5. Chainlink

Chainlink is a decentralized blockchain oracle network built on Ethereum. The network is intended to be used to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts. Its creators claim it can be used to verify whether the parameters of a smart contract are met in a manner independent from any of the contract’s stakeholders by connecting the contract directly to real-world data, events, payments, and other inputs.

Token NameChainlink
Launch Date2017
Ticker SymbolLINK
Blockchain Ethereum (ERC-677)
Current Price$ 16.51 per (LINK / USD)
Market Capitalization$ 9.69B USD
CategoryDecentralized Oracle Network
Use CaseProviding reliable, tamper-proof data for smart contracts through a decentralized network of oracles
Websitechainlinklabs.com

6. Cosmos

Cosmos is an open-source interchain network developed by Tendermint that allows different blockchains, called zones, to communicate and exchange data, all connected by the Cosmos Hub which is powered by the Atom token. The end goal of Cosmos is to create an “Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized way”. Cosmos aims to solve the problems of sovereignty, scalability, and sustainability while providing an interoperability solution for connecting layer 1 blockchains

Token NameCosmos
Launch Date2019
Ticker SymbolATOM
Blockchain Cosmos Network
Current Price$8.54 USD
Market Capitalization$3,337,490,306 USD.
CategoryBlockchain Interoperability
Use CaseInter-blockchain communication, decentralized applications, staking, governance
Websitecosmos.network

7. Polkadot

Polkadot is a blockchain platform and cryptocurrency. The native cryptocurrency for the Polkadot blockchain is the DOT. It is designed to allow blockchains to exchange messages and perform transactions with each other without a trusted third-party. This allows for cross-chain transfers of data or assets, between different blockchains, and for decentralized applications (DApps) to be built using the Polkadot Network.

Token NamePolkadot
Launch Date2020
Ticker SymbolDOT 
Blockchain Polkadot
Current Price$ 7.549127 per (DOT / USD)
Market Capitalization$ 10.86B USD.
CategoryInteroperability, Decentralized Finance (DeFi), Blockchain Network
Use CaseGovernance, Staking, Parachain Auctions, Interoperability
Websitepolkadot.network

8. Ripple

Ripple (XRP) is a peer-to-peer powered cryptocurrency designed to work seamlessly with the Internet to allow a fast, direct and secure way to send payments on the web.

Ripple as a protocol is a system of the real time gross settlements (RTGS), exchange and money transfer system. Another name is Ripple transaction protocol (RTXP), or Ripple protocol. It is built upon a distributed open Internet protocol, consensus ledger and its own currency called XRP.

Token NameRipple
Launch Date2012
Ticker SymbolXRP
Blockchain XRP Ledger
Current Price$0.535934 USD
Market Capitalization$29,631,253,875 USD.
CategoryPayments
Use CaseCross-border payments, remittances, liquidity management
WebsiteRipple

9. Uniswap

Uniswap is an automated market maker and a cryptocurrency exchange that uses a decentralized network protocol. 

Uniswap is also the name of the company that initially built the Uniswap protocol. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.

Token NameUniswap
Launch Date2020
Ticker SymbolUNI
Blockchain Ethereum
Current Price$ 9.54219 per (UNI / USD)
Market Capitalization$ 5.72B USD
CategoryDecentralized Exchange (DEX)
Use CaseGovernance and incentives within the Uniswap protocol, providing liquidity, and trading ERC-20 tokens without intermediaries.
WebsiteUniswap

10. Dogecoin

Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time.

It is considered both the first “meme coin”, and more specifically the first “dog coin”. Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the “doge” meme as its logo and namesake.

Token NameDogecoin
Launch Date2013
Ticker SymbolDOGE
Blockchain Dogecoin
Current Price$ 0.168941 per (DOGE/USD)
Market Capitalization$ 24.39B USD
CategoryMemecoin
Use CaseOnline tipping, payments for goods and services, charity
Websitedogecoin.com

11. Aave

Aave token (AAVE) is the native governance token of the Aave protocol, a decentralized finance platform enabling users to lend and borrow cryptocurrencies. 

Holders of AAVE can participate in protocol governance, propose and vote on changes, and potentially earn staking rewards.

Token NameAave
Launch DateNovember 2017 (as ETHLend), rebranded to Aave in January 2020
Ticker SymbolAAVE
Blockchain Ethereum
Current Price$ 87.99 per (AAVE / USD)
Market Capitalization$ 1.30B USD
CategoryDeFi (Decentralized Finance)
Use CaseLending and borrowing of crypto assets, governance voting, earning interest on deposits
WebsiteAave

12. Shiba Inu

Shiba Inu token  is a decentralized cryptocurrency created in August 2020 by an anonymous person or group using the pseudonym “Ryoshi”. It is inspired by the Shiba Inu (柴犬), a Japanese dog breed, which also serves as the mascot for Dogecoin, another cryptocurrency with meme origins. Shiba Inu was introduced with a branding that positioned it as a potential ‘Dogecoin competitor’

Token NameShiba Inu
Launch Date2020
Ticker SymbolSHIB
Blockchain Ethereum (ERC-20)
Current Price$ 0.000025 per (SHIB / USD)
Market Capitalization$ 14.92B USD
CategoryMeme Coin
Use CaseDecentralized community token, payments, staking on ShibaSwap
Websiteshibatoken.com

13. The Graph

GRT is the native currency of The Graph, just as ETH is the native currency of Ethereum. The economy of The Graph is based around people spending GRT to participate and earning it for participating. 

It uses artificial intelligence (AI) intended to do what Google did for the internet, but for blockchains

Anyone who wants to query The Graph to find data on a blockchain must pay for it using GRT. Within The Graph, these people are called Consumers.

The Graph is open source software hosted on the Ethereum blockchain (‘open source’ just means its underlying code can be viewed by anyone).  

Token NameThe Graph
Launch Date2020
Ticker SymbolGRT
Blockchain Ethereum
Current Price$ 0.340341 per (GRT / USD)
Market Capitalization$ 3.24B USD 
CategoryData Indexing and Querying Protocol
Use CaseIndexing and querying blockchain data, particularly for decentralized applications (dApps)
Websitethegraph.com

14. Bitcoin

Bitcoin (sign: ₿) is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. 

Based on a free market ideology, bitcoin was invented in 2008 by Satoshi Nakamoto, an unknown person.

Bitcoin is currently used more as a store of value and less as a medium of exchange or unit of account. It is mostly seen as an investment and has been described by many scholars as an economic bubble.

As bitcoin is pseudonymous, its use by criminals has attracted the attention of regulators, leading to its ban by several countries as of 2021.

Token NameBitcoin
Launch Date2009
Ticker SymbolBTC
Blockchain Bitcoin blockchain
Current Price$ 69,522.9 per (BTC / USD)
Market Capitalization$ 1,369.74B USD
CategoryCryptocurrency and digital assets
Use CaseDecentralized digital currency, store of value, hedge against inflation, remittances, online purchases, investment
Websitebitcoin.org

15. Cardano

Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. 

It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA.

Token NameCardano
Launch Date2017
Ticker SymbolADA
Blockchain Cardano blockchain
Current Price$ 0.478223 per (ADA / USD)
Market Capitalization$ 17.06B USD
CategoryCryptocurrency and blockchain platform
Use CaseCardano aims to provide a platform for smart contracts and decentralized applications (DApps), with a focus on scalability, sustainability, and interoperability. It aims to enable financial services, identity management, supply chain tracking, and more.
Websitecardano.org

16. Polygon

Polygon (formerly Matic Network) is a blockchain platform which aims to create a multi-chain blockchain system compatible with Ethereum. As with Ethereum, it uses a proof-of-stake consensus mechanism for processing transactions on-chain. Polygon’s native token is named MATIC. Matic is an ERC-20 token, allowing for compatibility with other Ethereum cryptocurrencies. It is operated by Polygon Labs.

Token NamePolygon
Launch Date2019
Ticker SymbolMATIC
Blockchain Ethereum blockchain
Current Price$ 0.73006 per (MATIC / USD)
Market Capitalization$ 7.23B USD
CategoryCryptocurrency and blockchain platform
Use CasePolygon aims to provide a scaling solution for Ethereum, enabling fast and low-cost transactions. It offers infrastructure and tools for building and connecting Ethereum-compatible blockchain networks, facilitating decentralized applications (DApps) and various use cases such as DeFi, NFTs, gaming, and more.
Websitepolygon.technology
Top 16 web3 tokens

Frequently Asked Questions (FAQs)

FAQ1: What are Web3 tokens?

Answer: Web3 tokens are digital assets that operate on decentralized platforms, enabling a range of blockchain-based applications such as decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (DApps). They often provide utility, governance, or value exchange within their respective ecosystems.

FAQ2: Why are Web3 tokens important?

Answer: Web3 tokens are crucial because they power the next generation of internet services, enabling decentralized, trustless, and transparent interactions. They represent a shift from centralized to decentralized systems, offering more control to users and fostering innovation in digital finance, ownership, and data privacy.

FAQ3: What makes Ethereum unique among Web3 tokens?

Answer: Ethereum is unique due to its smart contract functionality, which allows developers to build and deploy decentralized applications (DApps). This capability has positioned Ethereum as the leading platform for DeFi, NFTs, and other blockchain-based innovations.

FAQ4: How do DeFi tokens contribute to the Web3 landscape?

Answer: DeFi tokens facilitate decentralized financial services such as lending, borrowing, trading, and earning interest. They eliminate intermediaries, reduce costs, and increase accessibility to financial services, embodying the principles of decentralization and user empowerment.

FAQ5: What are the future prospects for Web3 tokens?

Answer: The future of Web3 tokens looks promising, with continued advancements in blockchain technology, increasing adoption of decentralized applications, and growing interest from institutional investors. As the ecosystem matures, Web3 tokens are expected to play a central role in the digital economy, driving innovation and transforming various industries.

Author

  • I am Jennifer Ezepue, a seasoned writer, currently specializing in the dynamic world of web3 technologies. I have a passion for curating engaging and optimized articles that captivate readers and drive traffic. Over the years, I have improved my skills in creating high-quality content that resonates with my readers. My current experience includes working on various topics across industries; including technology, finance, health, and lifestyle.

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