- Terra claims to be a viable alternative to fiat currencies.
- Chainlink’s decentralized oracle network provides vital off-chain information.
Let us look at the top 3 DeFi tokens based on volume in the past 24 hours.
Terra (LUNA)
To provide price-stable worldwide payments, Terra uses fiat-pegged stablecoins. With the price stability and broad acceptance of fiat currencies and the censorship-resistance of Bitcoin (BTC). Furthermore, Terra claims to be a viable alternative to fiat currencies. Terra’s native cryptocurrency, LUNA, is utilized to stabilize the price of stablecoins. The LUNA coin may also be used to propose and vote on governance proposals. Thus, making it a governance token.
According to CoinMarketCap, the Terra price today is $59.15 USD with a 24-hour trading volume of $1,479,721,579 USD. It has been down 0.20% in the last 24 hours.
Avalanche (AVAX)
Avalanche, a decentralised application platform built on top of a layer one blockchain. Another Ethereum rival fighting for the title of most popular smart contract blockchain. It seeks to increase transaction output to 6,500 per second without losing scalability. Because of this, Avalanche blockchains utilize various consensus processes.
According to CoinMarketCap, the Avalanche price today is $84.60 USD with a 24-hour trading volume of $757,886,356 USD. Avalanche has been down 0.23% in the last 24 hours.
Chainlink (LINK)
Blockchain abstraction layer Chainlink allows globally linked smart contracts. Chainlink’s decentralized oracle network provides vital off-chain information. Moreover, required for complex smart contracts to become the dominant form of digital agreement for sophisticated smart contracts. Moreover, data producers, node operators, smart contract developers, researchers and security auditors contribute to the Chainlink Network.
According to CoinMarketCap, the Chainlink price today is $19.03 USD with a 24-hour trading volume of $621,661,320 USD. It has been down 2.54 percent in the past 24 hours.
