Top 10 Rarest Cryptocurrencies in the World 2024: Since the introduction of Bitcoin in 2009, an enormous number of additional cryptocurrencies have been introduced, all of which have caused a stir across the globe.
Because there is such a wide variety of cryptocurrencies available for purchase at the moment, it is inevitable that some of them will be more scarce than others.
This is because there is a smaller total supply in circulation, in addition to a lower market cap. Tokens that can be used on more than one blockchain are among the rarest cryptocurrencies.
These governance tokens give users a voice in the operation of the platform from which they originate, and tokens that can be used on more than one blockchain are among the rarest cryptocurrencies.
Only the information that was current at the time that this was published (May 6, 2021) is included on this list because the cryptocurrency market is in a state of constant flux.
However, the information that is shown here should, for the most part, be relatively close to whatever the actual figures are when they are seen in real-time.
Top 10 Rarest Cryptocurrencies in the World 2024
1. Balancer
- Current Circulating Supply (as of May 6, 2021): 6,943,831 BAL
- Max Supply: 100 Million
- Current Market Cap: $445,887,584
- Current Price: $64.22
AMMs allow digital assets to be exchanged without permission and automatically by using liquidity pools instead of a traditional market of buyers and sellers.
Balancer is an automated market maker (AMM) that was introduced in March 2020 on the Ethereum blockchain.
AMMs allow digital assets to be traded without permission and automatically. The BAL token, which was first issued in June 2020, is used by Balancer as its governance token.
Every week, liquidity providers receive 145,000 of these governance tokens; this amounts to 7.2 million BAL issued over the course of the year.
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Because pool operators can establish their own swap costs on Balancer, it is one of the most cost-effective platforms on which to trade stablecoins (cryptocurrencies backed by fiat money). This is a feature that is not commonly found in other automated market makers.
2. Compound
- Current Circulating Supply (as of May 6, 2021): 5,075,624 COMP
- Max Supply: 10 Million
- Current Market Cap: $3,569,917,754
- Current Price: $703.35
Compound is a system for decentralized finance (DeFi) that gives users the ability to lend and borrow cryptocurrency to one another.
In addition, users have the opportunity to earn income on their cryptocurrency holdings by putting such holdings into one of the many pools that are supported by Compound.
The majority of cryptocurrency holdings in users’ wallets are said to be dormant, according to Compound.
Compound intends to change this by making it possible for anyone who deposits Ethereum tokens that are supported by the platform to simply earn interest on their balance or take out a secured loan. Moreover, Compound intends to make this possible for everyone.
COMP is the governance token of the platform, and it gives users the ability to have a say in the functioning of the Compound system.
Users have the ability to make suggestions for improvements to be made, such as which cryptocurrencies should have support added, how the collateralization factors should be adjusted, and how COMP tokens should be distributed.
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Users have two options for acquiring COMP tokens: either they may purchase them from a third-party exchange or they can earn them by interacting with the Compound protocol in some way, such as by making a deposit or applying for a loan.
3. Numeraire
- Current Circulating Supply (as of May 6, 2021): 4,911,507 NMR
- Max Supply: 11 Million
- Current Market Cap: $324,865,465
- Current Price: $66.14
Numerai, which is an artificial intelligence-driven crowd-sourced hedge fund, uses the cryptocurrency known as Numeraire (NMR).
Numerai, just like a good number of the other uncommon cryptocurrencies on our list, is based on Ethereum.
The primary objective of the platform is to facilitate decentralization in the data science industry and give developers the opportunity to compete in the production of accurate machine learning prediction models.
On Numerai, every user has the ability to put their NMR tokens in the queue for their predictions. If the user makes accurate predictions, they will be rewarded with some money; however, if their forecasts are incorrect, their NMR will be lost. This tournament takes place once a week.
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In 2018, Numerai was the first artificial intelligence hedge fund to launch its own cryptocurrency known as Numeraire.
4. Gnosis
- Current Circulating Supply (as of May 6, 2021): 1,504,587 GNO
- Max Supply: 10 Million
- Current Market Cap: $380,202,078
- Current Price: $252.43
Gnosis is a decentralized platform for prediction markets that operates on the Ethereum network. A market that is developed and traded on an exchange specifically for the purpose of trading on the outcomes of events is called a prediction market.
Users of Gnosis are able to generate, trade, and hold digital assets on Ethereum thanks to the platform’s three interoperable product lines.
Because traditional prediction markets are subject to stringent regulations, the goal of the Gnosis project is to create a cryptocurrency-based platform that would decentralize the functioning of prediction markets.
To put it simply, Gnosis enables users to trade cryptocurrencies on an open market that is reflective of event outcomes.
GNO tokens, also known as Gnosis tokens, can either increase in value or decrease in value depending on the user’s predictions.
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Gnosis makes use of both the GNO and OWL cryptocurrencies in addition to GNO.
5. Maker
- Current Circulating Supply (as of May 6, 2021): 995,239 MKR
- Max Supply: 1,005,577
- Current Market Cap: $4,999,868,680
- Current Price: $5,023.79
Maker is the governance token that is utilized by MakerDAO and the Maker Protocol. MKR is the coin’s symbol. MakerDAO is a decentralized autonomous organization that is made up of the owners of its governance token, MKR.
These owners have the capacity to vote on changes to key parameters in the smart contracts that make up MakerDAO in order to maintain the value of the DAI stablecoin.
DAI is a stablecoin cryptocurrency, which means that the value of one DAI token is tied to the value of a fiat currency or an exchange-traded commodity (such as precious metals, for example).
Users who possess MKR tokens are effectively granted a voting share in the organization that is responsible for managing DAI.
Did It Cross Your Mind?
Both MakerDAO and DAI were pioneers in the field of decentralized finance (DeFi), which stands for “decentralized finance.”
6. SORA
- Current Circulating Supply (as of May 6, 2021): 350,000 XOR
- Max Supply: Not Available
- Current Market Cap: $248,406,743
- Current Price: $709,73
The world of decentralized finance (DeFi) and cryptocurrencies welcomes yet another new player with open arms in the form of SORA.
The initial public offering of the company took place in the autumn of 2019, and SORA sent 350,000 XOR tokens onto the market in March 2020.
The end goal for SORA is to develop a monetary system that is capable of competing with the systems that are now used by contemporary governments.
In addition, SORA intends for the price of XOR to rise in tandem with the expansion of the available supply of tokens.
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The supply of SORA’s XOR tokens is limited to 350,000 units until the v2 launch of the platform.
7. Wrapped Bitcoin
- Current Circulating Supply (as of May 6, 2021): 170,516 WBTC
- Max Supply: Not Available
- Current Market Cap: $9,525,610,154
- Current Price: $55,866.14
Wrapped Bitcoin (WBTC), like with a few of the other tokens on this list, is a newer cryptocurrency that, like a few of the other tokens, tries to bridge the gap between Bitcoin and Ethereum, the two largest and most generally used cryptocurrencies in the world.
Wrapped Bitcoin (WBTC) is a cryptocurrency that strives to bridge the gap between Bitcoin and Ethereum.
Wrapped Bitcoin has the capability of being completely integrated into the ecosystem of decentralized exchanges, crypto lending services, prediction markets, and other ERC-20-enabled decentralized finance (DeFi) apps that exist on Ethereum.
Wrapped Bitcoin, in a nutshell, grants its users the independence to experiment with different blockchains.
Did It Cross Your Mind?
Wrapped Bitcoin is a component of the larger Wrapped Tokens project, which is a joint venture between three companies: BitGo, Kyber Network, and Ren. Wrapped Tokens is a collaborative venture.
8. Bitcoin BEP2
- Current Circulating Supply (as of May 6, 2021): 54,598 BTCB
- Max Supply: Not Available
- Current Market Cap: $3,051,730,822
- Current Price: $55,901.27
Binance is a cryptocurrency exchange that provides a platform for trading multiple cryptocurrencies. Bitcoin BEP2 is a Bitcoin-backed token that can be traded on Binance.
Changpeng Zhao, a developer who had previously designed high-frequency trading software, is the person who initially conceptualized and launched Binance.
Since the company’s inception, Binance’s primary objective has been to establish itself as one of the world’s preeminent blockchain-based decentralized institutions.
On Binance, users have the ability to trade more than 100 different cryptocurrencies. Therefore, the Binance Chain Evolution Proposal 2, also known as BEP2, must be interoperable with every token.
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Binance has surpassed all other cryptocurrency exchanges in terms of trading volume as of April 2021. Binance is now the largest cryptocurrency exchange in the world.
9. yearn. finance (YFI)
- Current Circulating Supply (as of May 6, 2021): 36,635 YFI
- Max Supply: 36,666
- Current Market Cap: $1,895,184,879
- Current Price: $51,588.70
yearn.finance is an aggregator site that investors in decentralized finance (DeFi) use. The business’s goal is to make it easier for investors to gain access to yield farming and liquidity mining tactics.
YFI coins are the cryptocurrency that the project trades in, and there is a total supply of 36,635 coins now in circulation.
This indicates that the supply is relatively low. At this time, one YFI coin is worth approximately $51,588.70, and the total market value is approximately $1.89 billion.
YFI started operational in July 2020, and in only a few short months, the total worth of its assets that were locked increased more than one billion dollars. Yearn.finance’s users are currently subject to withdrawal fees of 0.5% in addition to 5% petrol subsidisation fees, which are referred to as transaction fees.
Did It Cross Your Mind?
Andre Cronje, who is noted for being a significant actor in the Decentralised Finance movement, is the one who came up with the idea to start the company Yearn.finance.
10. renBTC
- Current Circulating Supply (as of May 6, 2021): 12,617 RENBTC
- Max Supply: 13,698
- Current Market Cap: $700,964,424
- Current Price: $55,816.63
With only 12,617 RENBTC now in circulation, renBTC holds the title as the world’s rarest cryptocurrency at the present time.
This relatively new cryptocurrency has a maximum supply of 13,698 RENBTC, which is also considered to be rather low.
Late in the month of May 2020, renBTC became operational. This cryptocurrency represents a fresh attempt to bridge the gap between Bitcoin and Ethereum, which is currently the second-largest digital asset after Bitcoin.
The ren project, of which renBTC is a component, was conceived by and developed by Taiyang Zhang. Creating a token that has a value that is pegged to the price of Bitcoin is the objective of the renBTC project.
At the moment, one renBTC is approximately equivalent to one Bitcoin. In addition, the Ren project intends to provide adaptability so that renBTC can be easily converted into any of the supported currencies on the network without requiring the user to go through any additional steps.
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Wrapped Bitcoin (wBTC) is a direct competitor of renBTC because the two cryptocurrencies share a similar premise.
Top 10 Rarest Cryptocurrencies in the World 2024 [UPDATED]- Newshub360.net
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