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June 30, 2023

Token Projects on Coin Market 2023

Token Projects on Coin Market 2023

Today, we cover the chapter 2, Token Projects on Coin Market, of EMURGO Africa 2023 Q1 Report.

Blog posts related to EMURGO Africa 2023 Q1 Report:
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Tokenized Projects in Africa

Hope you enjoy reading the articles!!

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To summarize, by analyzing the top 100 tokenized projects by coin market capitalization (as of April 8, 2023), among top 100 tokens, nearly half of the projects represent layer 1 blockchains, followed by stablecoins, DEX protocols, layer 2 blockchains, and CEX protocols.

Regarding the relative current or highest price to start price and the speed of price rise, Bitcoin ($BTC), Shiba Inu ($SHIB), and Binance Coin ($BNB) show one of the highest relative prices and the fastest price growths.

Regarding token rankings, by accounting for when it showed the highest ranking and lowest ranking, and also the number of years raking up and down, Ethereum ($ETH), Quant ($QNT), and Tether ($USDT) show the consistent growth of the token rankings.

Note that the results in this report are all pure quantitative results by author's own research and have nothing to do with an investment advice. All data used in this report are available in this spreadsheet. You are free to refer the data set.

You can read below according to your interests for more detailed information and data. 👇🏾🙂💡

Table of Contents:

  1. Basics of Coin Market Data
  2. Token Type and Market Cap
  3. Price Change over Time
  4. Token Ranking over Time
  5. Token Classifications
  6. Data Set

1. Basics of Coin Market Data

The following coin market metrics offer insights into the scarcity, distribution, and liquidity of a digital asset.

(1). Token Supply Metrics

Max supply is the number of tokens that will ever be created on the certain blockchain. Total supply is defined as the following formula:
Total supply = Circulating supply + Locked supply + Burned supply
where circulating supply is the number of tokens presently available for trading; locked supply represents the number of tokens not accessible for trading; burned supply shows the number of tokens permanently removed from circulation.

(2). Price & Volume Metrics

Price change (24h) shows the percentage change in market price over the past 24 hours, providing a snapshot of a token's short-term performance.
Trading volume (24h) represents the total value of a digital asset traded on all exchanges within the past 24 hours, indicating liquidity, market interest, and the overall health of a token.

(3). Market Valuation Metrics

Market capitalization is defined as the following formula:
Market cap = Circulating supply × Current market price
Fully-diluted market capitalization
is an estimate of a digital asset's total market value if its max supply were in circulation. It is defined as:
FDMC = Max supply × Current market price

(4). Listings

Exchange listings determine a token's liquidity, as they provide platforms for trading and access to a diverse pool of buyers and sellers.

2. Token Type and Market Cap

Figure 1 below shows the type of tokens of the top 100 tokens by coin market capitalization (as of April 8, 2023). Among top 100 tokens, 46 represent layer 1 blockchains, 11 are stablecoins, 10 represents decentralized exchange protocols, 7 layer 2 blockchain, 5 centralized exchange protocols.

Figure 1. Token Types of Top 100 Tokens (as of April 8, 2023)

3. Price Change over Time

Table 1 below shows the token price related rank among top 100 tokens by coin market capitalization (as of April 8, 2023). Regarding the relative current or highest price to start price and the speed of price rise, Bitcoin ($BTC), Shiba Inu ($SHIB), and Binance Coin ($BNB) show one of the highest relative prices and the fastest price growths. Note that this is a pure quantitative result and nothing related to investment advice.

Table 1. Top 100 Tokens' Price Change over Time (as of April 8, 2023) 

4. Token Ranking over Time

Table 2 below presents the ranking based on the ranking history among top 100 tokens by coin market capitalization (as of April 8, 2023). Regarding token rankings, by accounting for when it showed the highest ranking and lowest ranking, and also the number of years raking up and down, Ethereum ($ETH), Quant ($QNT), and Tether ($USDT) show the consistent growth of the token rankings. Note that this is a pure quantitative result and nothing related to investment advice.

Table 2. Ranking History of Top 100 Tokens (as of April 8, 2023)

5. Token Classifications

The following is a token classification quiz in the article: Types of Tokens on Blockchain.

Quiz 1

How can you classify the following top 20 tokens by coin market capitalization (as of April 8, 2023) according to types of tokens as explained above or any other classifications you know?
top 20 tokens
Bitcoin(BTC), Ethereum(ETH), Tether(USDT), BNB(BNB), USD Coin(USDC), XRP(XRP), Cardano(ADA), Dogecoin(DOGE), Polygon(MATIC), Solana(SOL), Polkadot(DOT), Binance USD(BUSD), Litecoin(LTC), Shiba Inu(SHIB), TRON(TRX), Avalanche(AVAX), Dai(DAI), Wrapped Bitcoin(WBTC), Chainlink(LINK), Uniswap(UNI).

Figure 2 below is an example answer. Note that there could be various answers depending on how you classify tokens and the detailed definition of the classification. If the answer does not make sense to you, you can read this article about types of tokens on blockchain again!

Figure 2. Answer to the Quiz 1, Token Classification

6. Data Set

The figures and tables are generated using this spreadsheet that I made using data from the CoinMarketCap. You are free to refer the data set.

Hope you have enjoyed this chapter of EMURGO Africa 2023 Q1 Report! For downloading the full report, you can visit this article.

Thank you very much for reading this article & wish the bright future of blockchain! 🎉✨

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