Top 3 AMM Tokens by Market Capitalization as per CryptoDep
- Uniswap has been down 14.42% in the last 24 hours.
- PancakeSwap uses an automated market maker mechanism.
Let us look at the top 3 AMM tokens by market capitalization as per CryptoDep.
Top #AMM Tokens by Market Capitalization
— CryptoDep #StandWithUkraine (@Crypto_Dep) May 11, 2022
11 May 2022$UNI $CAKE $CRV $OSMO $BNT #1INCH $SUSHI $KNC $RAY $PERP pic.twitter.com/Q4SQ2m4oAD
Uniswap (UNI)
Automated trading of decentralized finance (DeFi) tokens have made Uniswap an increasingly popular decentralized trading protocol. Since its introduction, Uniswap has been a popular automated market maker (AMM) owing to the DeFi phenomena and the resulting spike in token trading. Uniswap seeks to improve trading efficiency over conventional exchanges while keeping token trading automated and available to anybody using tokens.
According to CMC, the Uniswap price today is $5.42 USD with a 24-hour trading volume of $465,988,348 USD. Uniswap has been down 14.42% in the last 24 hours.
PancakeSwap (CAKE)
Decentralized finance (DeFi) application PancakeSwap is an automated market maker (AMM). This decentralized application enables users to trade tokens, providing liquidity through farming and receiving fees in return. An automated market maker mechanism is used by PancakeSwap, which allows customers to trade against a pool of liquidity. LP tokens (liquidity providers) are given to users who deposit money into the pool and get them in return.
According to CMC, the PancakeSwap price today is $4.63 USD with a 24-hour trading volume of $252,914,190 USD. PancakeSwap has been down 21.49% in the last 24 hours.
Curve DAO Token (CRV)
Automated market makers (AMM) oversee liquidity on Curve, a decentralized exchange for stablecoins. Several smart contracts used to store deposited liquidity are linked together using Aragon’s Ethereum-based construction tool. However, the weighting and other aspects of issues like governance are different from Aragon.
According to CMC, the Curve DAO Token price today is $1.65 USD with a 24-hour trading volume of $406,142,153 USD. Curve DAO Token is down 18.61% in the last 24 hours.
Read more: https://thenewscrypto.com/top-3-amm-tokens-by-market-capitalization-as-per-cryptodep/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
