There are also blockchain-based tokens that are meant to serve a different purpose from that of money. Other tokens have a particular use case or function. Examples include Storj tokens, which allow people to share files across a decentralized network, or Namecoin, which provides a decentralized Domain Name System (DNS) service for internet addresses. One example could be a token issued as part of an initial coin offering (ICO) that represents a stake in a blockchain or decentralized finance (DeFi) project. These are known as utility tokens. If the tokens are linked to the value of the company or project, they can be called security tokens (as in securities like stocks, not safety).

U.S. dollar (or an equivalent) for every circulating USDT. This system allows users to more easily make transfers from other cryptocurrencies back to U.S. Launched in 2014, this cryptocurrency allows individuals to utilize a blockchain network and related technologies to transact in traditional currencies while minimizing the volatility and complexity often associated with digital currencies. On Feb. 7, 2025, Tether was the third-largest cryptocurrency by market capitalization, White House with a market cap of $141.4 billion and a price of $1. Binance Coin (BNB) is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange. It is the sixth-largest cryptocurrency by market capitalization as of Feb. 7, 2025. Those who use the token as a means of payment for the exchange can trade at a discount.

Crypto Fund Trading

0.252, making it the eighth-largest cryptocurrency. The TRON Foundation launched in 2017 to provide digital content makers full ownership rights through tokenization and dApps. TRON’s native token, TRX, is used to pay for on-chain transactions and as a payment method on exchanges. In 2018, TRON purchased BitTorrent, a popular file-sharing program, and integrated it into the TRON blockchain. TRON has since transitioned to serving as a decentralized financial application platform. A memecoin inspired by a memecoin, Shiba Inu (SHIB), rose to prominence in the fall of 2021, briefly surpassing Dogecoin’s market capitalization. The thought behind TRX’s launch was to give developers a way to create dApps.

Founded in 2017, Solana is a blockchain platform designed to support decentralized applications (dApps). Since its inception, its price has risen tremendously. The cryptocurrency running on the Solana blockchain is called Solana (SOL). Solana and Ethereum can utilize smart contracts, which are essential for running cutting-edge applications, including decentralized finance (DeFi) and non-fungible tokens (NFTs). Also referred to as an ‘Ethereum killer,’ Solana performs many more transactions per second than Ethereum. Additionally, it charges lower transaction fees than Ethereum.