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Cosmos’ Atom, Solana’s native currency and Internet Computer (formerly Dfinity) have all entered CoinDesk 20 In this quarter’s restructuring, the Web 3 software platform, tools, and infrastructure replaced decentralized finance (Go to financial institution) And DeFi-related applications are the currencies with the largest transaction volume among cryptocurrencies.
These three new currencies replaced Aave, The Graph, and Uniswap and reversed the trend earlier this year, when the listing of DeFi assets on major centralized exchanges pushed them to CoinDesk 20 and re-listed.
CoinDesk 20 is a list of the top 20 cryptocurrencies by trading volume, measured against a list of selected trusted exchanges. The list is recompiled quarterly, using the data observed in the previous two quarters.The full list is here. A full description of the method can be found here. Volume data by economics.
All three new currencies are related to Web 3, which is a type of cryptocurrency project designed to provide a globally distributed and permissionless computer network. Here is a brief introduction to the new assets in CoinDesk 20:
- Solana Trade under the stock code SOL. It is the local currency of the project of the same name and aims to provide a faster and more cost-effective Web 3 platform for decentralized applications. Therefore, it is a competitor to Ethereum.
- atom The transaction code is ATOM. It is the native currency of Cosmos, and the project aims to provide Web 3 developers with tools to achieve interoperability between blockchains. It is sometimes referred to as the “blockchain internet”.
- Internet computer Trade under the stock code ICP. It is the local currency of the project of the same name and aims to provide a network of cloud computing providers accessible through ICP tokens-essentially a decentralized version of Amazon Web Services. The predecessor of Internet Computer was Dfinity.
The three assets being replaced are all related to DeFi:
- Aave It is the local currency for loan applications, used to set interest rates and provide services to depositors and borrowers.
- chart Is a decentralized data indexing service used to manage data from Web 3 projects. It is widely used by DeFi applications.
- Uniswap It is one of the decentralized exchanges with the largest trading volume, and its native token is one of the DeFi currencies with the highest market value.
Due to technical issues on the CoinDesk 20 page, the reorganization of CoinDesk 20 this quarter was later than expected coindesk.com.
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