Saturday, January 28, 2023

Top 10 Cryptocurrencies in the World

The cryptocurrency market is the hottest topic of 2022 and it is expected to become a major one in 2022. This section will talk about the cryptocurrency market and its current state. The cryptocurrency market is free from monopoly. Its supply is limited and demand cannot be regulated by any government, entity, or third party. In this article, we will discuss the Top 10 Cryptocurrencies in the World.

Top 10 Cryptocurrencies in the World

The top 10 cryptocurrencies on the market today are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more. These are the top 10 cryptocurrencies on the market today. We will update this list of top 10 coins every day with new coins that have recently hit the market as well as all things cryptocurrency news, trends, and analysis from CoinDesk. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

1. Bitcoin (BTC)

  • Market cap: Over $846 billion

Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain or ledger that records transactions spread across a network of thousands of computers. Since additions to the distributed ledger must be verified by solving a cryptographic puzzle, a process known as proof of work, Bitcoin is secure and safe from fraudsters.

Bitcoin price has skyrocketed as it has become a household name. In May 2016 you could buy bitcoin for around $500. As of March 1, 2022, the price of one Bitcoin has exceeded $44,000. That’s about 7,800% growth.

2. Ethereum (ETH)

  • Market cap: Over $361 billion

Both a cryptocurrency and blockchain platform, Ethereum is a favorite among program developers due to its potential applications, such as so-called smart contracts that automatically execute when conditions are met. responsive and non-fungible tokens (NFTs).

Ethereum has also seen phenomenal growth. From April 2016 to early March 2022, its price increased from about $11 to over $3,000, an increase of more than 27,000%.

3. Tether (USDT)

  • Market cap: Over $79 billion

Unlike other forms of cryptocurrencies, Tether is a stablecoin, which means it is backed by fiat currencies like the US dollar and euro and hypothetically holds value in either of those denominations. In theory, this means that the value of Tether is meant to be more consistent than that of other cryptocurrencies and it is favored by investors who are wary of the extreme volatility of coins. other.

4. Binance Coin (BNB)

  • Market cap: Over $68 billion

Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest cryptocurrency exchanges in the world.

Since its launch in 2017, Binance Coin has expanded beyond simply facilitating transactions on the Binance exchange. It can now be used for commerce, payment processing or even travel booking. It can also be exchanged or exchanged for other forms of cryptocurrencies, such as Ethereum or Bitcoin.

The price of BNB in ​​2017 was only $0.10. At the beginning of March 2022, its price increased to about $413, an increase of about 410,0000%.

5. XRP (XRP)

  • Market cap: Over $37 billion

Created by some of the same founders as Ripple, a payment processing and digital technology company, XRP can be used on this network to facilitate the trading of various currencies, including fiat currencies and other major cryptocurrencies.

At the beginning of 2017, the price of XRP was $0.006. In March 2022, its price reached $0.80, an increase of more than 12.60%.

6. Terra (LUNA)

  • Market cap: Over $34 billion

Terra is a blockchain payment platform for stablecoins based on maintaining a balance between two cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are pegged to the value of physical currency. Their countermeasure, Luna, powers the Terra platform and is used to generate more Terra stablecoins.

The Terra and Luna stablecoins work together based on supply and demand: when the price of the stablecoin exceeds the value of its associated coin, users are incentivized to burn their Luna to generate more of those Terra stablecoins. Likewise, when its value falls against its base currency, it incentivizes users to burn their Terra stablecoins to earn more Luna. As the adoption of Terra platforms increases, so does the value of Luna.

7. Cardano (ADA)

  • Market cap: Over $33 billion

A little later in the crypto scene, Cardano stood out for its early adoption of proof-of-stake validation. This method speeds up transaction times and reduces energy consumption and environmental impact by eliminating the competitive and problematic aspect of transaction verification found on platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, powered by ADA, its native coin.

Cardano’s ADA token has enjoyed relatively modest growth compared to other major cryptocurrencies. In 2017, the price of ADA was $0.02. As of March 1, 2022, its price is $0.99. This is an increase of 4.850%.

8. Solana (SOL)

  • Market cap: Over $33 billion

Developed to support the use of decentralized finance (DeFi), decentralized applications (DApps), and smart contracts, Solana operates on proof-of-stake and proof-of-stake mechanisms. Unique combination for fast and secure transaction processing. SOL, Solana’s native token, powers the platform.

At launch in 2020, the price of SOL starts at $0.77. As of March 1, 2022, its price is around $101, up nearly 13,000%.

9. Polkadot (DOT)

  • Market Cap: Over $22 billion 

Polkadot (DOT), founded in 2016, is a unique blockchain interoperability protocol designed to connect different chains together. It also allows data exchange and transaction processing for forked chains or parallel blockchains without compromising their security. Developers can create their own blockchains while using Polkadot security.

The main founder of Ethereum, Gavin Wood created Polkadot. The interesting feature of DOT is that it has no hard limit on its total supply. In contrast, a new token is continuously in circulation.

Polkadot’s price reached a peak in May 2020 of $6.30 and then in May 2021 the price reached an all-time high of $55.11.

10. Litecoin (LTC)

  • Market Cap: Over $9 billion 

Litecoin (LTC), an open-source blockchain project launched in 2011, was created by Charlie Lee, a former software engineer at Crypto Exchange Coinbase. It was one of the first cryptocurrencies whose code was modeled on Bitcoin. Despite its similarities to Bitcoin, it was developed for faster transaction confirmation times. It can be used as a way to pay people around the world without a middleman. LTC is often referred to as “Bitcoin’s money to gold”.

Litecoin has a total supply of 84 million tokens. In May 2021, it recorded an all-time high of $413.47, but it fell more than 50%. More and more merchants are using Litecoin. It is worth around $106 per token, making it the 21st largest cryptocurrency in the world.

How to make money by trading cryptocurrency?

There are a lot of cryptocurrency exchanges out there. Some are legit, some are scams. The best way to make money with cryptocurrency is by trading it. The best cryptocurrency exchanges are the ones that have dedicated support and a good team.

They are safe, and stable, and offer 24/7 customer service at all times. Doing your research is critical to finding the right exchange for you. You need to know what you’re getting into before investing too much money. One of the most important things when choosing a cryptocurrency exchange is the support you receive from their team.

Coinbase provides a digital asset exchange (dEx) to purchase Bitcoin and Ethereum and offers users regulated accounts. The platform is available in English, Russian, Polish, Portuguese, Turkish, and Hindi among others.

Users have full control over their funds as they don’t deal with third-party processors or banks. Invest in Bitcoin and Other Cryptocurrencies. What makes a good cryptocurrency exchange?. you’ll have to adjust your coin portfolio based on its real-time price. It is important to note that you can purchase Bitcoin for Canadian Dollars at Coinbase, so it may be possible to do so before converting your assets into Canadian dollars with the exchange rate listed at Coinbase.

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In this section, we will talk about what it is like to be a cryptocurrency trader. We will cover how to trade and how you can profit from it.

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