With Ethereum being the nucleus of Web 3 and the focal point as well as the driving forces behind the growth of the market luring investors and catching the attention of developers throughout the years, other Ethereum-based (ERC-20) coins recorded some level of substantial gains, outpacing the native coin of the platform they were created on.
In this article, we’ve picked 5 best Ethereum based ERC-20 Tokens that have great potentials to mooning.
What is Ethereum?
The Ethereum network is a decentralized blockchain that was built in 2013 by Vitalik Buterin, a 19-year-old programmer at that time! Vitalik believed that the blockchain can benefit from the computing power of all connected devices on the network to develop and manage decentralized apps (DApps), Vitalik refers to the Ethereum network as a "Virtual Machine" or a "world computer." Ether, like Bitcoin, may be used to exchange, transmit, and receive value without the need for a third-party intermediary. The Ethereum network's primary goal is not the Ether coin, but rather the Dapps. Also, Ethereum can be used to create other crypto tokens on it that can operate on the network.
Ethereum Based Tokens Types
Anyone can literally create a token on the Ethereum blockchain within a few steps that doesn’t require technical know-how or skill and it would only take a couple of minutes. There are 2 types of Ethereum-based token standards; which are ERC-20 and ERC-721, with the first type being fungible that became the de facto standard for cryptocurrencies and the second non-fungible (NFTs).
5 Best ERC-20 Ethereum Tokens in 2022
- Chainlink (LINK)
Chainlink is a game-changer in the Web3 revolution, as it is a decentralized open-source oracle network that provides tamper-proof inputs, outputs, and computations to support advanced smart contracts on any blockchain.
Developed by a large community of developers, researchers, and users who share the goal to evolve it into a building block of a modern DeFi ecosystem that enables an economic fair world.
Chainlink is expected to reach $30.10 by the end of 2025, according to Trading Beasts. Chainlink's price could reach $58.39 by December 2025, according to TechNewsLeader. Chainlink's price is expected to reach $37.21 by the end of 2025, according to CoinPriceForecast. In 2025, the average Chainlink Price Prediction is $41.9.
- Tether (USDT)
Being a stablecoin, which is a cryptocurrency that is pegged to fiat money, or to exchange-traded commodities, Tether should ideally be worth $1, as that is what it is designed to achieve. DigitalCoinPrice predicts that the USDT price will remain at $1.01 in 2025, whereas Gov. capital predicts a tether price of $3.75 on December 31, 2025.
As it is considered a great enmesh between the traditional financial system into the crypto market, stablecoins are always favorable by new traders as they are a good stable investment that keeps them safe from the eye watering volatility of the markets. It is considered a very reliable way to cash out your crypto gains without waiting for tedious banking procedures of the conventional financial system.
- Polygon (MATIC)
With a motto of “bringing the world to Ethereum”, Polygon is a firm believer in Web3 for everyone. Polygon is a decentralized Ethereum scaling platform that allows developers to create scalable, user-friendly dApps with cheap transaction fees while maintaining security.
According to Polygon cryptocurrency price forecasts, the coin's lowest price in 2025 might be as low as $11.33. According to market analysts, MATIC's exchange rate will reach a maximum of $14.18 by the end of 2025.
- Dai (DAI)
Selfdescribing itself as “The world’s first unbiased currency”, Dai does not discriminate which believes that any individual or business can realize the advantages of digital money.
It is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn't backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform.
Capital predicts price rise, estimating that it will be valued $5.68 in five years, surpassing $2 in March 2024. According to WalletInvestor, the DAI currency will be valued at $0.997 in a year and will hover around a dollar for the next five years.
- Maker (MKR)
MKR is another ERC-20 token that is issued by the Dai project. Apart from the stablecoin DAI, MKR is a volatile token due to its unique supply mechanisms and function on the Maker platform. MKR is the Maker system's utility token, governance token, and recapitalization resource.
According to the forecast price and technical analysis, the price of Maker is expected to reach a minimum of $5,109.69 in 2024. With an average selling price of $5,255.79, the MKR price can reach a maximum of $6,146.24.
