Top Ethereum Tokens To Watch: ETH, SHIB, ARB, RENDER, JASMY

• Ethereum leads with a substantial $312 billion in market cap, reflecting its dominance.
• Shiba Inu emerges as a significant player in DeFi, holding a $7.82 billion market cap.
• Arbitrum enhances Ethereum’s scalability, ranking it among the top with a $1.78 billion valuation.

The Ethereum ecosystem, a community-driven platform powering Ether (ETH) and numerous decentralised applications, currently boasts a total market capitalization of $355 billion. This figure reflects a 0.22% increase over the past 24 hours. Key tokens to watch include $ETH, $SHIB, $ARB, $RENDER, and $JASMY.

1. Ethereum (ETH)

Ethereum (ETH) stands at the forefront of the decentralized blockchain space. It operates as an open-source platform, anchoring its own cryptocurrency, Ether, within the wider Ethereum ecosystem. Currently, Ethereum ranks as the second-largest cryptocurrency by market capitalization, holding a substantial $312 billion valuation.

Despite its dominant position, Ethereum has experienced a notable decline recently. Over the past month, the price of ETH has decreased by more than 28%, aligning with a broader market downturn. As of the reporting time, Ethereum’s price is $2,607, with a 24-hour trading volume reaching $12.02 billion.

The cryptocurrency has shown minor positive movement in the last 24 hours, gaining 0.22%. However, it remains 5.85% below its 7-day high of $2,769 and only 3.45% above its 7-day low of $2,520. With a circulating supply of 120.28 million ETH, Ethereum continues to be a crucial player in the crypto market despite recent price fluctuations.

2. Shiba Inu (SHIB)

Shiba Inu (SHIB), a popular meme-based cryptocurrency, continues to make its mark in the decentralized finance sector. As an Ethereum-based digital asset, it recently climbed the ranks among top Ethereum ecosystem tokens by market capitalization. According to CoinMarketCap, SHIB currently holds the 13th spot with a market cap of $7.82 billion.

Shiba Inu price at the time of writing is $0.00001329, with a 24-hour trading volume of $151.42 million. The coin has slightly dipped 0.81% in the last 24 hours. It is also down 9.36% from its seven-day peak of $0.00001467 and up 2.92% from its seven-day low of $0.00001292. The circulating supply of SHIB is reported to be 589,270.35 billion tokens.

3. Arbitrum (ARB)

Arbitrum (ARB), an Ethereum layer-two (L2) scaling solution, leverages Ethereum’s security and compatibility. With a market capitalization of $1.78 billion, ARB ranks as one of the leading tokens in the Ethereum ecosystem. ARB holds the 42nd position among cryptocurrencies by market cap. As of writing time, Arbitrum’s price is $0.5347, accompanied by a 24-hour trading volume of $142.53 million. Over the last 24 hours, ARB has experienced a decline of 1.71%. ARB’s price has seen significant downward movement in recent weeks, with a decrease of over 6% in the past week and a 30% dip over the last 30 days.

4. Render (RENDER)

Render Network, a leader in decentralized GPU-based rendering solutions, is transforming the digital creation process. As a prominent player within the Ethereum ecosystem, RENDER is recognized as one of the top Ethereum tokens by market capitalization.

Currently, Render Token holds the 44th position on CoinMarketCap, boasting a market cap of $1.77 billion. The price of RNDR stands at $4.52, with a 24-hour trading volume of $34.15 million. Over the past 24 hours, RNDR has experienced a slight dip of 0.28%.

5. JasmyCoin (JASMY)

JasmyCoin (JASMY), a cryptocurrency project developed by the Tokyo-based IoT provider Jasmy Corporation, operates on the Ethereum blockchain. It is recognized as one of the leading tokens within the Ethereum ecosystem by market capitalization. JasmyCoin holds the 62nd position on CoinMarketCap, boasting a market capitalization of $995 million.

As of press time, JasmyCoin is priced at $0.01996, with a 24-hour trading volume of $77.65 million. Over the past 24 hours, JASMY has seen a negative change of 2.41% and remains 9.32% below its 7-day peak of $0.02233. Conversely, it is 7.52% above its 7-day low of $0.01883. The circulating supply of JasmyCoin stands at 49.3 billion JASMY, while the maximum supply is capped at 50 billion JASMY.