Web3 coins are cryptocurrencies that secure blockchain projects running on smart contracts on the internet. It is possible to buy these coins on decentralized cryptocurrency exchanges. It can also be found on popular exchanges such as Binance and Coinbase.
Web3 gives internet users more control over their data, while web3 coins allow users to own a piece of the internet. With hundreds of web3 coins flooding the market, many individual investor accounts suffer from investing in the wrong projects. Therefore, there are some points to consider before investing:
- Market Cap: The smaller the market cap, the more potential there is for the project to increase in value. Projects that already have a very large market cap are often considered overpriced or overvalued and therefore need a correction.
- White Paper: This is an official document that demonstrates the concept behind the project and the real-life implementation of the idea. The paper conveys the vision of the project so you can evaluate the potential value of a project.
- Price History: A project’s price history can be used to predict its future. If the price has dropped more than 80 percent and it’s not bear season, the missions are probably dead.
- Trade Volume and Liquidity: A higher trade volume indicates that the project is a good investment. A low trading volume indicates a lack of confidence of investors in the project, while a large trading volume indicates a healthy project.
- Circulating Supply vs. Total Supply: If a project’s circulating supply is small compared to its total supply, there is a risk of dilution that could hurt the price of a crypto asset in the future.
Best Web3 Coins
There are many websites where you can watch the cryptocurrency market. One of the most well-known is CoinMarketCap. It lists entities operating in Web 3.0 issues as a separate category. The best ranked web3 coins and projects by market cap are listed as follows:
1. Polkadot (DOT)
Polkadot is software created to run blockchain platforms on users’ own computers. Other examples for Polkadot, which aims to grow the cryptocurrency and DeFi ecosystem, are Ethereum (ETH), Cosmos (ATOM), and EOSIO (EOS). DOT token holders are authorized to propose and approve changes in the network.
The DOT coin supply is 1.2 billion units, with a market cap of $7.2 billion. The DOT highest ATH price was recorded on November 4, 2021 at USD 54.98. DOT coin lowest ATL level is 2.70 USD on August 20, 2020.
The current price of Polkadot is as follows:
Polkadot (DOT)
2. Chainlink (LINK)
Chainlink is a decentralized Blockchain Oracle (expert) platform that can connect to real-world applications, data, and an API. Chainlink was originally called SmartContract and aims to bridge the gap between Blockchain and legacy systems. Chain processing has smart contracts with parameters specified in a Service Level Agreement (SLA). Oracle collects data to prevent tampering, verifies it, saves it on the network and rewards Chainlink’s native Ethereum token LINK. Most importantly, it enables this data to be used in smart contracts.
Chainlink’s main focus is on working with smart contracts. Chainlink provides access to any external API you want to connect to the smart contract. Thus, it is possible to make payments to any payment system or banking network through a contract.
The LINK supply is 6.7 million units, with a market cap of $269 million. LINK coin top ATH price is $345.88 on April 1, 2021. LINK lowest ATL level was recorded as 1.05 USD on 26 December 2018.
The current price of Chainlink is as follows:
Chainlink (LINK)
3. Filecoin (FIL)
Filecoin is a decentralized data storage network that uses the native cryptocurrency FIL to promote the creation of a secure and reliable storage and recovery network. Users pay FIL to store their files in storage miners, which are computers responsible for facilitating the network. This system can be used by those who want to avoid the hassle of dealing with traditional backups, or who want to circumvent government censorship.
Filecoin is a peer-to-peer network that stores files with built-in economic incentives to ensure reliable storage of files over time.
The FIL supply is 410 million units, with a market cap of $2.3 billion. The current price of Filecoin is as follows:
Filecoin (FIL)
4. Internet Computer (ICP)
The Internet Computer (ICP) is a blockchain-based decentralized network that aims to provide an “unlimited” environment for smart contracts and other decentralized applications to run at web speed. Started by Switzerland-based cryptography foundation DFINITY, Internet Computer provides significant infrastructure upgrades that could potentially solve the scaling problems of other blockchain networks such as Ethereum.
Using DFINITY’s site advocates, Internet Computer, developers can build anything from mass-market tokenized social media platforms, entire DeFi ecosystems, and even Ethereum-based dApps that run seamlessly on-chain.
Internet Computer supply is 300 million units and its market value is 1.5 billion dollars.
The highest ATH price of the ICP coin was $700.65 on May 10, 2021. The ICP lowest ATL level was recorded on December 19, 2019 as $3.40.
The current price of Internet Computer is as follows:
Internet Computer (ICP)
5. The Graph (GRT)
The Graph is an indexing protocol for querying data for networks such as Ethereum and IPFS. The Graph Coin, with its symbol GRT, is the network’s native token required to coordinate business between three operators and consumers. The Graph makes it possible to query data that is difficult to query directly. It is open source software used to collect, process and store data from various blockchain applications to facilitate information retrieval.
The purpose of the protocol launched on the Ethereum blockchain is to assist developers. The platform aims to help developers increase the efficiency of decentralized applications (dApp). Users of The Graph, who provide services to the network and are also defined as indexers, assist in the processing of data. In addition, users are also involved in transmitting data to applications.
The GRT supply is 8.8 billion units and its market value is 1.3 billion dollars. The Graph’s current price is as follows:
The Graph (GRT)
The data and cryptoassets are compiled from among CoinMarketCap’s best-ranked by market cap in their respective category.
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