12 most popular cryptocurrencies, Which crypto is best to invest in now?
Bitcoin gets all the headlines when people talk about cryptocurrencies, but there are thousands of other possibilities for these digital currencies. In fact, cryptocurrencies other than bitcoin are generally considered “launched” – they are called “altcoins” or alternatives to bitcoin.
While bitcoin may be the first major cryptocurrency to hit the market, it debuted in 2009 and became very popular, although not as big as the original.
Here are the top cryptocurrencies by the total value of available coins i.e. At market value or market value. (Data retrieved from CoinMarketCap.com on September 16, 2022)
The largest cryptocurrency by market capitalization
1. Bitcoin (BTC)
Price: $19,724
Market capitalization: $377 billion.
As a forerunner of the cryptocurrency era, bitcoin is still the currency people refer to when they talk about digital currency. Its mysterious creator, allegedly Satoshi Nakamoto, launched the coin in 2009 and has been working alone ever since. However, cryptocurrency entered the public consciousness only in 2017.
2. Ethereum (ETH)
Price: $1453
Market capitalization: $178 billion.
Ethereum, the name of the cryptocurrency platform, is the most famous middle name in the cryptocurrency space. The system allows you to use Ether (currency) to perform several functions, but the smart contract aspect of Ethereum helps make it a popular currency.
3. Tether (USDT)
Price: $1.00
Market cap: $68 billion
The price of Tether is set at $1 per coin. This is called a stable currency. Stablecoins are pegged to the value of a specific asset, Tether, such as the US dollar. Tether is often a means for traders to switch from one cryptocurrency to another. Instead of going back to dollars, they are using Tether. But some people worry that Tether is not securely backed by reserve dollars, but by short-term unsecured debt.
4. USD Coin (USDC)
Price: $1.00
Market capitalization: $50 billion.
Like Tether, USD Coin is a stablecoin pegged to the dollar, meaning its value does not change. The founders of the currency claim that it is fully backed by "equivalent fair value" assets and that these assets are held in US accounts. Regulated Institutions.
5. BNB (BNB)
Price: $275.27
Market capitalization: $44 billion.
BNB is a cryptocurrency issued by Binance, one of the largest cryptocurrency exchanges in the world. Originally created as a payment token for discounted transactions, Binance Coin can now be used to make payments and purchase various goods and services.
6. Binance USD (BUSD)
Price: $1.00
Market cap: $21 billion
Binance USD is a dollar-backed stablecoin from leading cryptocurrency exchange Binance in partnership with Paxos. Binance USD was launched in 2019 and is regulated by the New York City Department of Financial Services. BUSD runs on the Ethereum blockchain.
7-XRPFinal (XRP)
Price: $0.3322
Market capitalization: $17 billion.
XRP, formerly known as Ripple and created in 2012, provides a payment method in various real currencies. Ripple can be useful for cross-border transactions and uses a trust mechanism to facilitate payments.
8. Cardano (ADA)
Price: $0.4619
Market capitalization: $16 billion.
Cardano is the cryptocurrency platform behind the Ada coin name. Cardano, created by one of the co-founders of Ethereum, also uses smart contracts to manage identity.
9. Solana (SOL)
Price: $32.45
Market cap: $11 billion
Solana, launched in March 2020, is a new cryptocurrency that highlights the speed of transactions and the overall reliability of its online platform. The coin called Sol is limited to 480 million coins.
10. Dogecoin (DOGE)
Price: $0.05969
Market cap: $8 billion
Originally created as a joke after the advent of bitcoin, Dogecoin was named after an Internet meme featuring a Shiba Inu dog. Unlike many digital currencies that limit the number of coins available, Dogecoin has no limits. It can be used to make payments or send money.
11. Polkadot
Price: $6.86
Market cap: $8 billion
Polkadot, launched in May 2020, is a cryptocurrency that combines the blockchain technology of several different cryptocurrencies. The Ethereum co-founder is one of the inventors of Polkadot, and some industry observers believe that Polkadot is looking to displace Ethereum.
12. Polygon (Matic).
Price: $0.8017
Market cap: $7 billion
Polygon is an accessibility-focused cryptocurrency for people building digital applications and scaling the Ethereum cryptocurrency. It was previously called Matic and was founded in 2017, but the name was changed to Polygon in 2021.
Final thoughts
The crypto market is the Wild West (although the US government intends to play a more active role in managing the crypto space), so speculators of these digital assets should not invest more money than they can lose. Volatility has been high and cryptocurrencies have fluctuated significantly in 2022. After an all-time high in November 2021, the market has fallen and individual investors can trade with more experienced players, making it difficult for newbies.
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