Developers create governance tokens to enable token holders to take part in shaping the future of a protocol. Basically, these tokens give holders certain rights to influence a protocol’s direction, such as proposing new features, deciding on new feature proposals, changing the governance system, how to spend a budget, and more. Let’s take a look at the 10 biggest governance cryptocurrencies.
10 Biggest Governance Cryptocurrencies
We have used the market capitalization (as of Sept. 16, 2022) of governance tokens from coinmarketcap.com to rank the 10 biggest governance cryptocurrencies.
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yearn.finance (YFI)
Launched in 2020, it is an aggregator service for DeFi (decentralized finance) investors that uses automation to allow investors to maximize profits from yield farming. YFI is downby over 76% year to date but is up by almost 95% in the last 90 days.
As of this writing, YFI is trading at $8,660.60, giving it a market capitalization of more than $310 million. It has an all-time high of $93,435.53 (May 2021) and an all-time low of $739.44 (July 2020).
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Kyber Network Crystal v2 (KNC)
This crypto aggregates liquidity from several sources to offer secure and quick transactions on any DApp (decentralized application). KNC is up by almost 39% year to date and up over 54% in the last 90 days.
As of this writing, KNC is trading at $1.95, giving it a market capitalization of more than $330 million. It has an all-time high of $5.72 (April 2022) and an all-time low of $1.12 (June 2022).
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Dash (DASH)
Launched in 2014, this crypto focuses on making available a fast, cheap global payments network. It was launched as a fork of Litecoin (LTC). DASH is down by over 68% year to date but is up by over 6% in the last 90 days.
As of this writing, DASH is trading at $43.88, giving it a market capitalization of more than $470 million. It has an all-time high of $1,642.22 (December 2017) and an all-time low of $0.2139 (February 2014).
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Curve DAO Token (CRV)
Launched in 2020, it is a decentralized exchange for stablecoins that uses an AMM (automated market maker) to manage liquidity. CRV is down by over 83% year to date but is up by almost 78% in the last 90 days.
As of this writing, CRV is trading at $1.06, giving it a market capitalization of more than $550 million. It has an all-time high of $60.50 (August 2020) and an all-time low of $0.3316 (October 2020).
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PancakeSwap (CAKE)
Launched in 2020, it is an AMM that enables users to exchange tokens, offer liquidity (through farming), as well as earn fees in return. CAKE is down by over 65% year to date but is up by over 54% in the last 90 days.
As of this writing, CAKE is trading at $4.15, giving it a market capitalization of more than $590 million. It has an all-time high of $44.18 (April 2021) and an all-time low of $0.0002318 (September 2020).
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Synthetix (SNX)
Launched in 2017, it is a DeFi protocol that offers users on-chain exposure to a wide variety of crypto and non-crypto assets. SNX is down by over 56% year to date but is up by almost 67% in the last 90 days.
As of this writing, SNX is trading at $2.59, giving it a market capitalization of more than $620 million. It has an all-time high of $28.77 (February 2021) and an all-time low of $0.03258 (January 2019).
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Maker (MKR)
Launched in 2017, it is a governance token of the MakerDAO and Maker Protocol that assists members in issuing and managing the DAI stablecoin. MKR is down by almost 73% year to date and down almost 7% in the last 90 days.
As of this writing, MKR is trading at $665.94, giving it a market capitalization of more than $640 million. It has an all-time high of $6,339.02 (May 2021) and an all-time low of $21.06 (January 2017).
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Aave (AAVE)
Launched in 2017, it is a decentralized finance protocol that helps users to lend and borrow crypto. This token was originally known as ETHLend. AAVE is down by over 70% year to date but is up by over 52% in the last 90 days.
As of this writing, AAVE is trading at $79.21, giving it a market capitalization of more than $1.10 billion. It has an all-time high of $666.86 (May 2021).
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ApeCoin (APE)
Launched in 2022, it is the governance token of the APE Ecosystem that allows users to participate in ApeCoin DAO and gives them access to some specific parts of the Ecosystem that are otherwise unavailable. APE is up by almost 1% year to date and up almost 42% in the last 90 days.
As of this writing, APE is trading at $4.73, giving it a market capitalization of more than $1.40 billion. It has an all-time high of $39.40 (March 2022) and an all-time low of $1.00 (March 2022).
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Uniswap (UNI)
Launched in 2018, it is a decentralized trading protocol that supports automated trading of DeFi (decentralized finance) tokens. UNI is down by almost 67% year to date but is up by over 89% in the last 90 days.
As of this writing, UNI is trading at $5.74, giving it a market capitalization of more than $4.40 billion. It has an all-time high of $44.97 (May 2021) and an all-time low of $0.419 (September 2020).
This article originally appeared on ValueWalk
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