Ethereum is the second-largest cryptocurrency by market cap. It’s retained that second spot for many years and is unlikely to lose popularity. This blockchain holds lots of cryptocurrencies. In this guide, we’ll look at the ten of the best Ethereum tokens for Q4 2022.
It’s without doubt now that the bear market in full swing. The events of Tuesday leave us under no illusions. However, as with any bearish downturn – there are some LTF ups in the midst of it all – so it’s important to stay educated on the latest trends in the cryptosphere. After Bitcoin, Ethereum is massive. As a network, it’s arguably more important these days than any other. And there are tons and tons of tokens to choose from.
Crypto Lists gives ten top picks to help you see the best Ethereum tokens to take a look at. Without further ado and in no particular order…
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ETH is the native cryptocurrency of the Ethereum blockchain and the biggest altcoin in the world. The coin is used for the purchase of goods and services on the internet. It is also used to pay transfer fees on the blockchain. That means individuals have to hold ETH in order to transact in this ecosystem. The network recently switched to proof-of-stake, so ETH can no longer be mined. Users can only stake their Ether to get staking rewards, more commonly referred to as interest.
Immutable X (IMX)
IMX is an ERC20 token that powers the Immutable X protocol, a scaling solution for the second largest blockchain. It was launched in 2018 and has been rising in value consistently. You can use it to stake on the Immutable X protocol, and this helps to secure the network. Holding this token will also give you governance rights on the IMX blockchain, meaning you will help to influence the future of the protocol. In addition, the token is used to pay transfer fees on the blockchain.
MATIC is also an ERC-20 token, and it is used on the Polygon network. This blockchain has been referred to as Ethereum’s network of blockchains. It connects Ethereum-based projects and leverages the security and structural benefits of the Ethereum blockchain. MATIC is used to govern and secure the Polygon ecosystem. You also need this token to pay transfer fees on the network. Since the network processes transactions fast and cheaply, it is likely that it will keep thriving. And, with recent big-name partnerships like the recent one with Instagram… that means the price of MATIC is likely to keep going up over the long term.
AAVE integrates EIP 2612 permit functionality, and this means users can make gas-free transfers. It is meant to be used on the AAVE DeFi protocol, which lets people borrow and lend cryptocurrencies without working with a centralized authority. Lenders earn by charging interest. The cryptocurrency was initially launched on Ethereum, but it has now expanded to Avalanche, Fantom, and other blockchains. Blockchains like Avalanche are able to process transactions quickly and don’t charge very high transfer fees.
Basic Attention Token (BAT)
Basic attention token or BAT was created in 2017 and helps to solve a few issues in the digital marketing space. The cryptocurrency works with the Brave browser. This browser connects publishers, advertisers, and consumers, and it ensures that everyone benefits from their participation. Advertisers enjoy less expensive customer attention, while publishers get more revenue. Viewers of the adverts benefit from improved relevance and stronger privacy. The brave browser uses in-device machine learning to match content with advertisers that are truly relevant. Anyone who uses this browser can turn on the Brave Ads feature to receive payments in Basic Attention Token.
Curve Dao Token (CVR)
Curve Dao token or CVR is the native token of Curve, one of the biggest decentralized finance projects. This DeFi is used to trade cryptocurrencies without the need for a central authority. The ecosystem is mostly used to exchange stablecoins. CRV helps to draw liquidity to the ecosystem and encourages participation in the governance process of the network. Unlike other automated market makers (AMMs), Curve Dao offers more stability and lower fees. The main issue with the network is that yield farmers may not make as much money on the ecosystem.
Euro Tether (EURT)
Euro Tether is one of the most popular Ethereum tokens. It has consistently ranked among the top 15 stablecoins in the world. As the name suggests, this stablecoin is issued by Tether Limited and is pegged to the Euro. That means it aims at holding a value of €1 at all times. Given the importance of this cryptocurrency, it has been listed on most major crypto exchanges. With this altcoin, people are able to make transfers on the blockchain without having to worry about market volatility. At the same time, users of the coin don’t need to deal with centralized authorities.
Loopring also features in the list of popular Ethereum tokens. It works on the Loopring ecosystem, which is an open protocol that is used to build decentralized crypto exchanges. The coin was released to the public in 2017 through an initial coin offering or ICO, but the Loopring protocol wouldn’t be released until 2019. This protocol aims to combine the benefits of centralized and decentralized exchanges to offer unique benefits while reducing inefficiencies. You can earn LRC tokens through ring mining. You can also purchase it on many major crypto exchanges.
Lido DAO (LDO)
Lido DAO is a staking solution for the second largest blockchain. You can use it to stake ETH without worrying about minimum deposits. At the same time, you will be able to participate in on-chain activities like crypto lending. Lido DAO token or LDO is the native cryptocurrency of this ecosystem and gives holders governance rights in the ecosystem. The token is also used for managing fee parameters and distribution.
Optimism is a fast and scalable second layer that is built on the Ethereum blockchain. $OP or Optimus is the governance token of the blockchain and was airdropped to the early supporters of the project. The airdrop was extremely popular and even slowed down the network for a brief period. You can transfer tokens from Optimism to Ethereum, but this process can take many days to complete.
Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site about the best Ethereum tokens is presented for educational purposes only and should not be construed as investment or financial advice.