Thursday May 12, 2022
  • Polkadot-based coins and tokens traded with a 24h volume of $4.54B.
  • Kusama calls itself Polkadot’s Wild Cousin.

 Let’s take a look at the top 3 coins on the Polkadot ecosystem by their trading volume.

Source: CoinMarketCap

Polkadot (DOT)

Polkadot is a multi-chain blockchain network that integrates several parachains and shard chains. It runs by the nominated proof-of-stake (NPoS) consensus mechanism. DOT is the native coin. Polkadot confers interoperability to its parachains bridging transfers securely across them.

According to CMC, at the time of writing, DOT was trading down 3.31% at $9.01 USD with a 24-hour trading volume of $2,096,807,674 USD. 987,579,315 DOT are in circulation with a market cap of $8,926,842,266 USD.

Chainlink is a blockchain-based oracle network that bridges real-world data to the web3 through smart contracts. As an off-chain data aggregator to Defi protocols, it aims to transform smart contracts into dominant digital agreements. LINK, the governance token, serves as the key to access services on the network.

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According to CMC, at the time of writing, LINK was trading down 6.87% at $6.89 USD with a 24-hour trading volume of $1,303,488,387 USD. 467,009,550 LINK are in circulation with a market cap of $3,224,791,828 USD. 

Kusama (KSM)

Kusama is an NPoS-based experimental blockchain platform that also aims to enhance interoperability in Web3, following Polkadot. KSM, its parachain token, is used in voting mechanisms that are necessary for the network’s governance.

According to CMC, at the time of writing, KSM was trading down 9.17% at $72.5 USD with a 24-hour trading volume of $175,253,257 USD. 8,470,098 KSM are in supply with a market cap of $614,279,758 USD.

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