As we have already covered the top 10 low market cap gems in our earlier article. Therefore, today let’s jump into the top 10 mid-market cap gems with a market cap between 50 to 250 million US dollars.
1. Waves Protocol (WAVES)
Waves Protocol can be counted among one of the most underrated projects. It is creating a network of blockchains and pushing a new age of inter-chain DeFi platform. Waves platform is a fully transparent and decentralized platform letting everyone to create, distribute, and trade their own crypto token.
Similar to the Ethereum blockchain network, it provides a comprehensive ecosystem to facilitate smart contracts and development tools for Web 3.0 applications (dapps). Waves platform also offers a decentralized exchange (DEX) for peer to peer trading with near-real time order matching.
The platform’s native token WAVES has a market cap of 255 million USD and is currently being traded on major exchanges such as Binance, Kraken, etc.
2. Ren Protocol (REN)
RenVM is a network of virtual computers that provides interoperability among different blockchains in a trustless and decentralized manner. That way, it enables cross-chain lending, liquidity, collateralization, and more. RenVM leverages its Secure multiparty Computation (sMPC) algorithm to allow the participants to anonymously run scripts without even revealing to the machines powering RenVM.
The Ren protocol makes use of a refashioned version of the Tendermint consensus algorithm distinctively developed for sharding and sMPC. The platform’s native token REN has a market cap of 223 million US dollars with a maximum supply of one billion coins. The REN token facilitates two specific functions – incentivizing node operators and paying bonds to the Republic Protocol’s Ethereum smart contract a.K.a the Registrar.
3. Kyber Network (KNC)
Kyber Network is a protocol based on the Ethereum blockchain network that provides a decentralized on-chain exchange. Thus allowing anyone to instantly swap tokens on its platform with high-liquidity and no fuss. Basically, it solves the problem of receiving your preferred currency meanwhile letting users pay in whatever currency they wish. Although it’s built on the Ethereum blockchain, the Kyber Network still allows developers to incorporate its technology to build smart contracts based on any blockchain.
The network’s native token KNC is an ERC-20 utility token that is used for participation rewards (such as staking) and determining the incentive system. The KNC token has a market cap of $220 million and has a current circulation is approx 197 million coins.
4. Enjin (ENJ)
Enjin is a blockchain product ecosystem of integrated blockchain software products. It is fueled by its Ethereum based cryptocurrency called Enjin Coin (ENJ). It’s basically a blockchain game development platform where the value of minted digital assets is directly backed by the ENJ token. The Enjin ecosystem uses the ERC-1155 multi-token standard to allow the users to mint and configure both fungible and non-fungible tokens in a single smart contract.
It claims to cut the gas costs by 90% while minting new tokens and allow advanced features such as atomic swaps, batch transfers, or even allowing the users to destroy their assets. The ENJ coin has a market cap of 153 million USD and has its market supply capped at one billion coins and it’s listed on major exchanges like Coinbase.
5. Reserve Rights (RSR)
Reserve Protocol has a mission of building a stable coin aimed to help citizens of countries with higher inflation rates. Countries such as Zimbabwe or Argentina have seen their currency losing value in the past few years, thus hurting the saving of their citizens. Therefore, the Reserve Protocol has built a stable coin that can’t be governed or shut down by the governments across the globe.
The Reserve protocol implements two tokens – Reserve token (RSV) and Reserve Rights token (RSR). Whereas the Reserve token (RSV) is pegged at the US dollar thereby maintaining a stable purchasing power. While on the other hand, the Reserve Rights token (RSR) fluctuates in value, stabilizing RSV and confers the cryptographic right to purchase surplus Reserve Tokens. The RSR token has a market cap of 125 million US dollars and is being traded at exchanges such as Binance, Uniswap, Bilaxy, etc.
6. Ocean Protocol (OCEAN)
Ocean Protocol leverages two greatest tech innovations of the 21st century – AI & blockchain. It’s a decentralized data exchange protocol aimed to solve the problem of big data. Ocean Protocol is an ambitious project that wants to give the power of data back to the hands of users from the big corporations by decentralizing using the mean of AI and the blockchain technology.
By putting the data on the blockchain network, it will allow the users to create their own data marketplace. The platform’s native token OCEAN is being used by the protocol as a means of exchange on the network for buying and selling AI services as well as data. The OCEAN token has a market cap of 112 million USD with a current circulating supply of over three hundred thousand coins.
7. iExec RLC (RLC)
iExec is a decentralized blockchain-based cloud computing platform running on the Ethereum blockchain network. It is yet another project aimed at solving database shortcomings by leveraging the blockchain network in tandem to cloud computing. iExec is an open-source platform that will allow on-demand computing resource allocation to decentralized applications (dapps).
The platform’s native token RLC that is short of “Run on Lots of Computers” is being used by the iExec’s infrastructure as an asset to access its services. Currently, the RLC token has a market cap of 83 million US dollars and circulating in the count of over 70 million tokens.
8. Kava (KAVA)
Kava is a cross-chain DeFi lending platform that provides decentralized lending solutions against crypto assets as collateral. The platform leverages smart contract applications to facilitate the lending of its stable coin USDX to users in exchange for locking their collateral. Similarly, users can also stake the KAVA stable coin to earn yields. Although risky, it also lets users create synthetic leverage by taking a series of collateralized loans.
Unlike its stable coins, the platform has another token called KAVA that fluctuates in value and currently has a market cap of 72 million US dollars.
9. Chiliz (CHZ)
Chiliz is one of a kind cryptocurrency exchange for sports and entertainment tokenization. It runs on both Ethereum and Binance blockchain networks and allows sports and crypto fans to trade branded fan tokens. Chiliz has also developed Socios.com, a fan engagement platform running on the Chiliz blockchain network, and uses its native token CHZ as an on-platform currency. The platform’s native token CHZ has a total supply of 8.8 billion and is listed on major exchanges such as Binance, Bitmex, etc. It has a market cap of 66 million US dollars.
10. xDai Stake (STAKE)
xDai is a blockchain network designed for stable payment with inexpensive transactions. Being a stable currency, xDai’s value is pegged with USD and remains stable at $1. The platform has another token called STAKE that is a cross-chain staking token being used as rewards for validator sand delegators in exchange for staking their assets. Therefore, the STAKE token’s value is not stable and fluctuates in value.
The STAKE token has a market cap of 51 million US dollars and has a max supply of approx 8 million coins.
Written by Narender Charan