- DAOs have garnered interest because of the growing number of blockchain and crypto enthusiasts.
- Ben GCrypto has analyzed some of the DAO coins that show promising results.
- A DAO platform decentralizes an organization’s administrative operations and ownership.
DAO is a platform created to decentralize administrative functions and ownership of an organization. No one person or group has ultimate authority in a DAO; instead, everyone works together toward a shared objective and does what they think is beneficial for the organization as a whole.
Due to the increasing number of blockchain users and crypto aficionados, DAOs have lately gained a lot of attention. For the most part, a DAO is just a streamlined method for making choices in a company that employs a grass-roots style of administration.
Recently, Ben GCrypto, who is the CEO of Generation Crypto Media Channel, has analyzed some of the DAO coins using Alt, which is a unique measurement by LunarCrush that combines actual altcoin price performance relative to Bitcoin (BTC) and social activity indicators.
Here is an outline of the top DAO tokens according to Ben GCrypto:
SuperRare (RARE)
To far, SuperRare has paid out $3 million in royalties to artists and has amassed about $250 million in digital artwork sales, making it one of the leading NFT platforms. In version 1.0 of SuperRare, the core team carefully selected and authorized artists who would be minting their works on a communal smart contract in the form of SuperRare NFTs.
SuperRare 2.0 altered this by empowering artists to mint, advertise, and sell their creations directly to collectors via the use of sovereign minting contracts, web-scale curating, and independently operating stores on the network.
At the time of this article’s publication, RARE was trading at $0.1311, a 3.76% increase over its price from the previous day. RARE has reached new weekly highs of $0.1356, and it now has a trading volume of $4,545,942; this is a 4.02% increase in comparison to the previous twenty-four hour period.
OrcaX (OX)
0x is a protocol for decentralized exchange that eliminates the need for centralized marketplaces like Bitcoin or Ethereum exchanges for buying and selling ERC20 tokens or other assets on the Ethereum blockchain.
Cult DAO (CULT)
According to data provided by CoinMarketCap, the current price of Cult DAO is 0.00000008 USD, and its 24-hour trading volume is stated to be $1,273,199. Cult DAO has had a 1.33 percent increase during the last 24 hours. The current value of the coin’s market cap is $34,485,816, and its position on CoinMarketCap is #454.
Decred (DCR)
Decred is a forward-thinking endeavor since it depends on the decentralized nature of blockchain technology to prevent a monopoly of project voting power. This makes Decred an innovative project. In order for the Decred protocol to be successful, it is necessary to ensure that all holders of DCR are treated in the same manner and that large institutions are unable to influence the voting process in order to their benefit.
Rarible (RARI)
Rarible is aggregated, community-centric, multichain Non-Fungible Token (NFT) marketplace which is built on the Rarible protocol. Customers of the platform have access to a fully operational marketplace that is simple to explore owing to the straightforward categorization and filtering tools of the platform’s website.
Conclusion
In conclusion, investors and traders should think about purchasing the aforementioned alternative cryptocurrencies since they have a positive outlook for the foreseeable future.
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