As the five-year anniversary of Ethereum Blockchain closes by, the market cap of ERC-20 tokens have gone through the <a href="https://messari.io/" target="_blank" rel="noopener">roof </a>and is finally set to be at par with Ether. The spike by ERC-20 tokens market cap has presented a strong case for its continued bullish run.
<h2>ERC-20 Token Market Cap Surge  </h2>
Ryan Selkis, CEO of crypto analytics firm Messari, in a July 17 newsletter said that the past 2 months have been bullish for ERC-20 tokens with their market cap shooting up to roughly $25.6 billion, accumulating for 49% of the total assets on the Ethereum Blockchain i.e- $52.6 billion.

“Ether now only accounts for 51% of the value secured on the Ethereum blockchain, which is the smallest amount on a percentage basis than it’s accounted for in its history. The other 49% of the value stored on Ethereum now incentivizes economic activity beyond the maintenance and execution of the Ethereum blockchain”.
<h2>DeFi and Stablecoins climbing new highs</h2>
As per Selkis, the growth of these tokens have primarily been attributed to Crypto.com token (CRO) and DeFi token Chainlink (LINK). However, with a meteoric rise in the interest in stablecoins has also weakened the grip of Ethereum on the Blockchain ecosystem.

Chainlink’s token has surged over 370% in 2020, pummeling it to ninth-biggest cryptocurrency by market cap gaining almost 80% this month. CRO’s market cap has also seen a large spike, rising from $426 million in January to $2.6 billion today.

A report published on July 14, that the market cap of stablecoins has risen from $2.2 billion to $11 billion, while Bitcoin (BTC) saw a downward spiral decreasing by 12%, from $195 billion to $171 billion. Thus the buying power of stablecoins like Tether (USDT) has markedly increased in 2020.

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ERC 20 Tokens Now Constitute 50 Percent Of Entire Ethereum Blockchain

As the five-year anniversary of Ethereum Blockchain closes by, the market cap of ERC-20 tokens have gone through the roof.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

ERC 20 Tokens Now Constitute 50 Percent Of Entire Ethereum Blockchain

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