Top 5 cryptocurrencies named after food

Cryptocurrency markets have grown diversified in the past few years. Most cryptocurrencies have unique names to grab the attention of investors. Some are technical, while others are inspired by the food you eat, such as burgers, bananas, cake, salmon, and pasta.

While a few are well established, others, although new, are drawing decent attention from investors despite the volatility in the market. The total market capitalization of the cryptocurrency market on July 8 was $944.52 billion, with a trading volume of $71.4 billion

Let’s take a look at 5 cryptocurrencies named after tempting food items.

Switch pie (cake)

PancakeSwap (CAKE) is basically a protocol built on the Binance Smart Chain that allows users to exchange, mint, and farm tokens to earn fees in return. Launched as a decentralized exchange, CAKE crypto can execute trades through smart contracts thus eliminating risk. It uses an automated market maker (AMM) model, which allows liquidity aggregators to be used instead of order books. Users can add tokens to the liquidity pool and from there they can farm and participate in CAKE tokens to earn rewards.

Over the past week or so, the token has given market participants a positive return of 6.9%. On July 8, the token saw a 1.04% increase and was trading at $3.20 with a volume of $6,51,42,215 over the past 24 hours.

Banana (banana)

Banana cipher (BANANA) is another type of play for profit category, launched by the world of CyberKongz. As a 2D game, it was created in the year 2021 by an artist named Myoo. Within a short time, the BANANA symbol gained fame due to its suitability as a profile picture on Discord and social media. The BANANA token gives CyberKongz the ability to produce 10 BANANA tokens per day for the next 10 years. By burning BANANA tokens, its users can customize their characters in the game.

On July 8, cryptocurrency BANANA was experiencing a positive uptrend by 1.17% and was trading at $0.888649 with a 24-hour volume of $4,580.74. The BANANA coins had a fully diluted market capitalization of $3,863,784 and 4,347,932 BANANA coins were in circulation.

Burger Cities (Burger)

Contrary to popular claims, BurgerCities (BURGER) crypto was not launched by a popular retail food joint. Launched on the Binance Smart Chain protocol, the BURGER crypto acts as a token for BurgerCities. BurgerCities is primarily a DeFi and NFT protocol that aims to create a unified world from the modular metaverse of the web 3. BURGER cryptocurrency users can play games and connect through its social platform at the same time that they can earn additional income by collecting tokens.

The BURGER Crypto has been so popular that it has given its investors returns of over 260% over the past week. However, the coin did not have the same luck on July 8 as it fell by 15.22% according to CoinMarketCap. The 403 token was traded at $2.09 with a trading volume of $22,30,84,183. The live market cap of the burger cryptocurrency was $4,30,21,241 with 2,06,24,916 burger coins traded.

Pasta Financing (Pasta)

Pasta Finance (PASTA) is a DEX running on the Binance Smart Chain and PancakeSwap platform. It offers users delicious farm yields that allow users to earn tokens. Besides, it rewards users for keeping tokens for the long term.

Friday’s PASTA coin saw a 1.58% gain and traded at $0.001389 with a trading volume of $343.94 according to CoinMarketCap. The 6,784-rated token had a fully diluted market value of $1,385 with a maximum bid of 10,00,000 PASTA coins.

Salmon marinade (SAL)

SalmonSwap (SAL) is a decentralized exchange that allows its users to earn TRON crypto. Describing itself as a short-term and long-term interest of liquidity providers, this community token offers rewards to liquidity providers, even if they withdraw their stake from the liquidity pool.

Friday’s crypto SAL is down 5.59% and trading at $1.18 with a 24-hour trading volume of $29.46. SAL Crypto boasted a fully diluted capital of $589,646,732 with a maximum of Sh500.000.

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While food cryptocurrencies may seem tempting to investors, one should never forget that cryptocurrency markets are often volatile and thus one should exercise caution and do their due diligence before making any investment decisions.

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