Starting from Bitcoin and Ethereum from Ethereum and Bitcoin to Dogecoin and Tether There are thousands of different cryptocurrency options, which can be overwhelming as you begin to explore the world of cryptocurrency. To aid you in figuring out what to do, this list of the top 10 cryptos in relation to their market capitalization, which is the sum of all the coins in circulation at the moment.
1. Bitcoin (BTC)
The cryptocurrency was created in 2009 by a person who was named Satoshi Nakamoto, Bitcoin (BTC) is the first cryptocurrency. Like most cryptocurrencies, BTC runs on a blockchain that is an electronic ledger that records transactions across a network comprising thousands of computers. Since any additions to the distributed ledgers have to be confirmed by solving a cryptographic problem, which is known as proof of work Bitcoin is secure and protected from fraudulent swindlers.
The price of Bitcoin has soared because it’s now the most popular name. In May of 2016, it was possible to purchase Bitcoin for $500. In February. 1st, 2022 one Bitcoin’s cost was more than $38,000. This is a growth rate of around 7,600%.
2. Ethereum (ETH)
A cryptocurrency as well as an open-source cryptocurrency platform for blockchain, Ethereum can be an ideal choice for programmers because of its applications, such as smart contracts that execute automatically when certain conditions are met, as well as non-fungible coins ( NFTs).
Ethereum has also seen tremendous growth. Between April 2016 and February 2022, its value was ranging from $11 to nearly $2,700, a rise of 25,000%.
3. Tether (USDT)
Contrary to other forms of cryptocurrency Tether is a steady coin that is backed by fiat currencies such as U.S. dollars and the Euro and, theoretically, has an amount that is equal to one of these denominations. This, in theory, implies that the value of Tether is expected to be more reliable as compared to other cryptos and is a favorite among investors who are concerned about the high fluctuations of other coins.
4. Binance Coin (BNB)
A Binance Coin is a type of cryptocurrency you can make use of to trade and pay for fees on Finance, one of the biggest cryptocurrency exchanges worldwide.
Since its debut in the year, 2017 Binance Coin has grown beyond simply facilitating trades through the exchange platform of Binance. Today, it is utilized to process payments, trades, and even booking travel arrangements. It is also able to be exchanged or traded in exchange for other types of cryptocurrency like Ethereum and Bitcoin.
The price at the time of 2017 was only $0.10 On February. 1, 2022 it had increased to $377, an increase of about 377,000 percent.
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5. U.S. Dollar Coin (USDC)
Similar to Tether, USD Coin (USDC) is a stable cryptocurrency that is supported with U.S. dollars and aims at a one USD per USDC ratio. USDC runs on Ethereum which allows you to utilize USD Coins to complete global transactions.
6. Cardano (ADA)
A bit later than the crypto world, Cardano is notable for its initial embrace of proof-of-stake verification. This technique speeds up transaction times and reduces energy consumption along with environmental footprint by eliminating the problem-solving, competitive aspect of verification for transactions that is present in platforms such as Bitcoin. Cardano is also able to work with Ethereum to allow smart contracts as well as applications that are not centralized and run on ADA which is its native currency.
Its ADA token has seen moderate growth when compared to other major cryptocurrencies. The cost for ADA for 2017 stood at $0.02. In February. 1st, 2022, the price was $1.05. This represents an increase of 5,150%.
7. Solana (SOL)
Created to power the decentralized financial (Defi) uses the decentralized apps (DApps) along with smart contracts. Solana is based on an exclusive hybrid proof-of-stake and proof-of history mechanism to make transactions fast and secure. SOL Solana’s native token powering the platform.
In the year it was launched the price of SOL was $0.77. On Feb. 1st, 2022 SOL’s price was in the vicinity of $100, which is an increase of nearly 13,000%.
8. XRP (XRP)
It was created by the same founders who founded Ripple, digital technology and payment processing company. XRP is a cryptocurrency that can be utilized on this network to facilitate exchanges between different types of currencies, such as fiat currencies, as well as another important cryptocurrency.
In the first quarter of 2017, The price for XRP at the time was $0.006. At the time of February. 1st, 2022 the price was $0.62 equivalent to an increase of more than 10,000 percent.
9. Terra (LUNA)
Terra is a cryptocurrency-based payment platform that is based on maintaining the balance between two types of cryptocurrency. Terra-backed stable coins, like TerraUSD, are linked in value to physical currency. Their counterpart, Luna, powers the Terra platform. Terra platform is used to mint even more Terra stable coins.
Terra stabilized coins as well as Luna are in sync in accordance with demand and supply when the price of a stable coin is higher than the value of its currency tied to it and users are enticed to use their Luna to produce more of the Terra stable coin. Also, when the value decreases in comparison to its base currency, it encourages users to use their Terra stable coins in order to make more Luna. As the popularity of the Terra platforms increases as well, so will Luna’s value. Luna.
Since January. 3. in 2021 when the price was $0.64, Luna has risen by 8,000%, to $51.39 less than one year later.
10. Polkadot (DOT)
Cryptocurrencies can use any combination of blockchains. Polkadot (and its namesake cryptocurrency) is aiming to bring them together through the creation of a cryptocurrency network that connects all blockchains, allowing them to collaborate. This integration will alter the way cryptocurrency is managed and has led to rapid growth since the launch of Polkadot in the year 2020.
Between September 2020 and February. 1st, 2022 the price increased by 565 percent from $2.93 up to $19.49.