New data reported today by market analyst Phoenix Group listed top DAO tokens by weekly trading volume, an indicator that DAO crypto tokens are experiencing increased traction.
With multiple of tokens in circulation, it can be time consuming for digital asset investors to know which DAO tokens are performing well in the market.
This data identified top DAO tokens by trading volume, meaning these are the tokens that have earned their positions through strong trading, widespread adoption, and tech innovation.
Top 15 DAO Tokens By Trading Volume
Aave (AAVE)
As per the data, Aave (AAVE) is at the top of the list because it is the asset that is currently the most performing in the DAO market. This has been identified by its highest weekly trading volume.
According to the data, AAVE registered a trading volume of $1.92 billion over the past seven days, an indicator of significant increased user interest and market activity. The record is also a reflection of the asset’s price movement recently. Aave experienced a 12.2% increase price in the past week, with its market capitalization currently stands at $4.7 billion.
UniSwap (UNI)
UniSwap (UNI) closely followed, as it is the DAO token that registered the second-highest trading volume over the period. It experienced a $1.9 billion weekly trading volume, making it second on the list. This record reflects strong buying pressure in the DAO platform and also highlighted by its 16.1% price growth over the week.
Hedera (HBAR)
Hedera (HBAR) pulled in a $1.6 billion weekly trading volume, making it third in the list. This figure suggests higher market interest and greater buying activity.
Kyber Network Crystal (KNC)
Kyber Network Crystal (KNC) has risen to become the fourth-largest DAO token, marking a substantial achievement in its history. The asset attracted a $1.3 billion trading volume and a 78.9% price surge in the last seven days. This milestone is a testimony to the rising acceptance and adoption of KNC by investors who view it as a powerful DAO token with profit capability.
Curve DAO (CRV)
Fifth on the list is Curve DAO (CRV). Its increased trading volume over the week propelled the cryptocurrency into the top tier of DAO tokens. The asset drew in a $539 million trading volume and a 34.4% price rise over the week, highlighting its prominent position among major DAO tokens. The rise follows rejuvenated interest from investors in the token’s offerings.
How Are DAO Tokens Money-Making Machines?
Other top DAO tokens include Compound (COMP), MANTRA (OM), ApeCoin (APE), Safe (SAFE), Sushi (SUSHI), 0x Protocol (ZRX), Synthetix Network (SNX), Metis (METIS), Stratis (STRAX), and PIVX (PIVX), as illustrated in the data.
The above impressive metrics suggest interest in DAO tokens has increased recently, as many people invest in DAO cryptocurrency projects.
DAOs provide multiple benefits. They are quite different from traditional organizations as they don’t depend on a centralized authority for decision-making. In DAOs, token holders have more power and can vote on decisions governing projects’ operations.
The data indicates the popularity of DAO tokens is increasing in the crypto space as more people see them as profitable long-term investments.
Besides trading DAO tokens, these assets also come with several other benefits. Those who hold DAO tokens can assist in making decisions about the DAO project. Some projects reward their token holders. Lastly, token holders can earn rewards by using the tokens for yield farming and staking.
