Trending Cryptocurrencies will be discussed in this article. The last 10 years have seen the rise of cryptocurrencies as a possible replacement for fiat money. A whitepaper written by the mysterious “Satoshi Nakamoto” introduced the concept of decentralized digital currency. Many believe that cryptocurrencies will lead to a global financial paradigm shift since they have applications ranging from NFTs to owning virtual goods in games on the blockchain to making real-world payments in nations like El Salvador. Furthermore, eminent capitalists like Tim Draper expect that cryptocurrencies will have a bigger influence than the internet.
Top 20 Trending Cryptocurrencies Right Now In 2023
In this article, you can know about Trending Cryptocurrencies here are the details below;
As cryptocurrencies gain acceptance on a global scale, the total market capitalization of all cryptocurrencies as of January 2022 is a hefty $1.63T. Check out our list of the top-trending cryptocurrencies below (based on Google search volume).
1. Cosmos
- 5-year increase in searches: 460%
- Growth status of searches: regular
- The 2017 ICO
- Market capitalization: $6.9B
What it is: Rather than utilizing a single decentralized blockchain, Cosmos makes use of a “internet of blockchains” that are linked together through a protocol that enables seamless asset exchange. The “Interchain” is essentially a new internet built of different blockchains, and its Cosmos Hub is its hub. On Cosmos, 256 applications and programs have already been released, and there are already $123 billion in assets being managed. This is another Trending Cryptocurrencies.
2. Helium
- 5 year increase in searches: 3500%
- Growth status of searches: Peaked
- Year of ICO: 2019
- $2.2B Market Cap
How it works: The market for wireless services has long been dominated by established telecom companies like AT&T, Verizon, and T-Mobile. Come on, Helium. Users are rewarded by Helium for contributing to the development of its decentralized LoRaWAN hotspot infrastructure. Helium miners can install nodes that expand the Helium network in exchange for Helium currencies.
3. SushiSwap
- 5-year increase in searches: 340%
- Growth status of searches: Peaked
- 2020 for the ICO
- Capitalization: $460M
What it is: SushiSwap is another automated market maker (AMM) that enables direct cryptocurrency trading between users. Smart contracts, a streamlined user experience, and mathematical formulas power the entire platform. Users can earn interest, lend, borrow, stake, and even easily switch tokens by contributing liquidity to pools. Over 2,000 liquidity pairs, over $126 billion in volume, and over $4.7 billion in liquidity are all offered by SushiSwap.
4. Tezos
- 5-year growth in searches: 104%
- Growth status of searches: regular
- 2018 for ICO
- Capitalization: $2.8B
What it is: Tezos, one of Ethereum’s main rivals, has gained attention in the cryptocurrency industry for already having a Proof of Stake blockchain, a status that Ethereum is aggressively pursuing. This is another Trending Cryptocurrencies.
In order to advance their decentralized aim, Tezos has taken a more corporate approach by sponsoring Red Bull’s Formula 1 team and working with advertising firms. Powerful investors like Tim Draper helped the Tezos team raise over $200 million in their initial coin offering (ICO) in July 2017.
5. Celsius
- 5-year increase in searches: 458%
- Growth of searches is exponential.
- The 2017 ICO
- Capitalization: $530M
What it is: With over 1 million customers, Celsius is a “centralized” blockchain lending network. APRs of up to 17% are available to each user over a range of coins. Users deposit coins such as Bitcoin, Ethereum, or stablecoins, which Celsius then lends out. Users are then paid weekly interest on their cryptocurrency.
Although regulators are closely examining Celsius and other centralized crypto lending services, with $26.4B in assets as of October 2021, 109K BTC owned on the platform, and $951M paid out to users since 2018, Celsius is one of the top competitors for dominance in the CeFi industry.
6. 1Inch
- 5-year rise in searches: 138%
- Growth of searches is exponential.
- 2020 for the ICO
- $660M Market Cap
What it is: Without going too deep into the crypto jargon, 1Inch is a DEX (Decentralized Exchange) aggregator, connecting several DEXs to offer users the most affordable and secure exchange-to-exchange transactions possible. 1Inch supports 120 distinct sources across 5 networks. 1Inch is home to more than 820K users, and more than $85.8B in volume has been exchanged on its network to far.
7. PancakeSwap
- 5-year increase in searches: 1900%
- Growth status of searches: Peaked
- 2020 for the ICO
- $2.7B Market Cap
What it is: The automated market maker (AMM) model is used by PancakeSwap. PancakeSwap’s entire value is currently locked in at $3.857B, an increase of approximately 10 times since February 2021.
8. AAVE
- 5-year rise in searches: 71%
- Growth status of searches: regular
- The 2017 ICO
- Market capitalization: $2.5B
What it is: AAVE is one of the first “DEX” (decentralized exchanges) platforms where users may deposit or borrow money. Borrowers can obtain loans on the platform with over collateralized loans, while users who deposit cryptocurrency give essential liquidity to the market. The fact that none of this involves middlemen is the most intriguing aspect. The DeFi features of AAVE work through Ethereum smart contracts instead. This is another Trending Cryptocurrencies.
9. ChainLink (LINK)
- 5-year increase in searches: 360%
- Growth status of searches: Peaked
- The 2017 ICO
- Market capitalization: $6.5 billion
What it is: Importing data from the outside world is essential for a blockchain to work, and ChainLink does just that. LINK functions as a “oracle” that makes it easier for trusted outside data to move from the outside onto the Ethereum blockchain and vice versa. The tokens itself serve as data conduits that deliver data to smart contracts and compensate LINK node operators who retain significant token holdings in order to support the operation of the oracles.
10. Enjin
- 5-year increase in searches: 1700%
- Growth status of searches: Peaked
- The 2017 ICO
- Capitalization: $1.3B
What it is: Enjin has redoubled its efforts to capitalize on the NFT craze, pivoting their coin to be solely focused on facilitating developer, individual, and corporate access to NFTs. The Enjin team initially focused on the gaming industry before expanding. According to Forbes, there are more than 250K gaming communities on the Enjin Network, which has more than 20 million players. Since its release, more than 2.3 million people have downloaded the Enjin Wallet, making it a huge success. The ultimate goal is to construct a whole ecosystem on the Enjin blockchain that enables users to exchange, develop, and create NFT projects in a carbon-neutral and climate-friendly manner.
11. Dai
- 5-year increase in searches: 2400%
- Growth status of searches: Peaked
- The 2017 ICO
- $9.1B in market value
What it is: What are stablecoins and why are they important? They are cryptocurrencies that are tied 1:1 to the United States Dollar, delivering stability in the very volatile ecosystem that is crypto. Stablecoins like Dai are the lubricant of the DeFi system, permitting lending, borrowing, and trading on a vast scale. Maker is the group responsible for Dai. The Maker Protocol, which is in charge of the Dai smart contracts, is governed by MKR token holders. This is another Trending Cryptocurrencies.
12. Polygon (MATIC)
- 5-year increase in searches: 1600%
- Growth status of searches: Peaked
- Year of ICO: 2019
- Market Cap: $11.1B
What it is: Polygon addresses some of the most pressing concerns that have arisen on Ethereum, such as excessive gas fees (the cost users pay to power transactions on Ethereum) and transaction uncertainty. This issue is resolved by Polygon by fusing together different ETH-compatible blockchains without sacrificing speed or scalability, as well as significantly reducing gas costs and enhancing user experience. Over 1200 DApps (decentralized applications) are active on Polygon’s Proof of Stake network.
13. Axie Infinity (AXS)
- 5 year increase in searches: 1300%
- Growth status of searches: Peaked
- 2020 for the ICO
- Market Cap: $2.9B
What it is: Everyone loves Pokemon right? Think imagining Pokemon on a blockchain, where players might permanently own their critters as NFTs on a tamper-proof record. The group of people who own AXS, Axie’s native coin, profit materially from the project’s rising popularity and have a voice in determining its future course. Recent $152M Series B funding led by Andreeson Horowitz values the Vietnam-based initiative at a startling $3B.
14. Filecoin (FIL)
- 5-year rise in searches: 1050%
- Growth status of searches: Peaked
- The 2017 ICO
- Capitalization: $3.8B
What it is: Offering blockchain-based digital storage to users who rent out unused hard dream space from other users, Filecoin makes one of the strongest cases for real-world value out there. Filecoin is produced by renting out idle hard drive space, and as a result of the project’s promise, its price has surged to $62.76 per coin.
15. FTX Token (FTT)
- 5-year rise in searches: 862%
- Growth of searches is exponential.
- Year of ICO: 2019
- $5.9B in market value
What it is: Like Binance, FTX is a well-known cryptocurrency exchange with operations in the majority of the world’s nations and subsidiaries in markets like the United States. The derivatives market is FTX’s area of expertise. Power users of the FTX exchanges can receive discounts on trades and transactions by using the FTT token, and they also have the chance to take part in leveraged trading on the FTX platform.
16. Stellar (XLM)
- 5-year rise in searches: -11%
- Growth status of searches: Peaked
- 2014 for the ICO
- $5B Market Cap
What it is: For many, low-cost international money transfers pose a significant challenge. When it comes to sending money back to nations like Mexico, the Philippines, and other transfer hot spots, Western Union has long been the de facto option. Jeb McCaleb, a former executive at Ripple, invented the cryptocurrency Stellar, which enables international trade between any currency pairs. This is another Trending Cryptocurrencies.
17. Monero (XMR)
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- 2014 for the ICO
- $5B Market Cap
What it is: Monero, a “privacy coin” akin to Zcash, uses three privacy technologies to completely conceal all network transactions. In every transaction, “stealth addresses, ring signatures, and RingCT” block the sender, amount, and recipient. As a result, Monero is a strong blockchain that never makes any compromises regarding total privacy.
18. The Graph (GRT)
- 5-year increase in searches: 900%
- Growth status of searches: Peaked
- 2020 for the ICO
- $1.8B Market Cap
What it is: Finding and organizing data is one of the largest gaps that arises as blockchains gain popularity because all of the data is kept on blockchains like Ethereum. The Graph is a technology that makes the data easily accessible to users while indexing and querying networks like Ethereum. This is another Trending Cryptocurrencies.
From a resource and engineering perspective, indexing is one of the most expensive tasks to complete; The Graph seeks to make indexing massive blockchains simple. Only Ethereum is supported right now, however The Graph will eventually incorporate more chains.
19. Synthetix Network Token (SNX)
- 5-year increase in searches: 1950%
- Growth status of searches: Peaked
- The 2017 ICO
- Market capitalization: $721M
What it is: According to estimates, the derivatives market has a total value of $1.2 quadrillion, or 10 times the global GDP. The Synthetix team’s thesis is based on a crypto-based, fully autonomous alternative to derivatives trading, which it refers to as a “derivatives liquidity protocol”. As of October 2021, there are over $840M in locked value for SNX.
20. Zcash (ZEC)
- 5-year growth in searches: -37%
- Growth status of searches: Peaked
- The 2016 ICO
- $2.3B Market Cap
How it works: The promise of real privacy for transactions is one of the defining characteristics of cryptocurrencies (and the bane of regulators worldwide). Although Zcash is built on the same code as Bitcoin, it has some significant changes, most notably “zero-knowledge” technology that hides crucial data from prying eyes. This is another Trending Cryptocurrencies.
Conclusion
Cryptocurrency is without a doubt one of, if not the most, interesting areas of technology at the moment. The possibilities are absolutely mind-boggling, with potential use cases including gaming, music rights, building a “metaverse” (as in Ready Player One), a new international banking system, and more. As cryptocurrencies continue to make headlines throughout the world and disrupt brand-new industries, you’ll want to keep an eye on our growing list of hot cryptocurrencies.
