Interest from investors is growing in the rapidly expanding cryptocurrency market. There are over 19,000 cryptocurrency coins and tokens on the market. Although there are more significant cryptos, they also carry certain dangers. Therefore, investing all your hard-earned cash into one investment isn’t advisable. A well-informed decision allows the investor to reap higher returns.
“Diversification is the best way to invest!”
Top 10 Cryptos
These are the best ten cryptos by market capitalisation and curiosity:
Bitcoin (BTC) – The Market Dominator
Market cap: Over $350 billion.
It is like living under a rock to be aware of Bitcoin. It was created in 2009, and BTC is the first cryptocurrency and the first alternative to fiat currencies. As with other cryptos, Bitcoin is based on blockchain technology, a ledger which records transactions across many computers. Bitcoin is well aware of fraudsters and is secure by the process known as Proof of Work. With nearly 3,700% growth in 2016, BTC is often refer to as an investment with a high risk of security in many portfolios.
Ethereum (ETH) is the most commonly use Crypto
Market cap: Over $170 billion.
Ethereum is the second most popular cryptocurrency by market capitalisation and is the newest contract platform. It’s the name of a blockchain-based platform and its currency of choice. Ethereum has also become one of the top platforms for decentralised apps. It’s now a preferred developer platform since it can support applications such as smart contracts that automatically perform the needed function if certain conditions are met.
Ethereum is the main power behind the biggest NFT marketplace in terms of transaction volume OpenSea is The most well-known decentralised exchange Uniswap and the biggest commercialised Metaverse, Decentraland.
Binance Coin (BNB)then, Ethereum’s Biggest Competitor
Market Cap: Over $45 billion.
The Binance Chain is the biggest rival to the Ethereum revolutionary contract network and is among the most popular cryptocurrency exchanges according to the daily volume of trade. It was launched in the latter half of 2017; BNB has rapidly grown into the fifth-largest cryptocurrency in market value and has proven to be the most profitable altcoin during the past five years.
Holding BNB aids traders in lowering fees for transactions through Binance. Binance trading platform. Binance is a platform that can be use to make travel arrangements, perform payment processing, as well as other payment processing. as well as to trade with different types of cryptocurrency, such as Bitcoin and Ethereum.
Market Cap: $111 billion.
Cardano is similar to Ethereum; however, it’s faster, less expensive, and more efficient in terms of energy use. Cardano’s increasing popularity with decentralised app developers can maintain the ADA token in high demand. The utility’s updates undergo rigorous peer review, which brings academia into the cryptos market.
Cardano’s most significant benefit is that it is the most secure blockchain platform, which is why it is widely use in various sectors, including authenticating academic certificates, tracking supply chains for agricultural production, tracking environmental fundraising campaigns and increasing transparency.
Tether (USDT)A Trader’s Most-Preferred
Market cap: Over $66 billion
Tether, unlike many other cryptocurrencies, can be described as a stablecoin. Fiat currencies, such as U.S. dollars and Euros, support it. It can maintain a value that is at the same level as the value of one of these currencies. In theory, the value of Tether will be more stable than other currencies and is favoured by investors who are wary of the volatility of different currencies.
Market cap: Over $18 billion.
Some of the founders from the same group created XRP in the form of Ripple. Ripple is a payment and digital technology processing firm. XRP is utilize on the network to facilitate the transfer of different types of currency, including significant crypto and fiat currencies. The XRP price was $0.006 in the year 2017. In January 2023, it’s trading at $0.37, which is a 6000% increase.
Market Cap: More than $5 billion.
Polkadot is a unique blockchain design to connect multiple chains and allow them to exchange and use user information. It facilitates the transfer of data and manages transactions on parallel blockchains without compromising security. Programmers and developers can build blockchains with Polkadot security. DOT is not limit in its supply, making it appealing to investors and users. Polkadot is being traded at $5.10.
Market cap: Over $33 billion
SOL is mined to aid decentralise finance (DeFi), decentralise applications (DApps), and smart contracts. It is based on a unique combination of proof-of-stake and proof-of-history mechanisms, which aid in processing transactions safely and swiftly. It was first launched in 2020. SOL was first traded at $0.77 and has experienced an enormous increase despite market turmoil.
Market Cap: Over $6 billion
Litecoin (LTC) is one of the cryptocurrencies with a code model after Bitcoin. Despite the similarities to Bitcoin, it was develop to provide a quicker processing time and transaction verification. Charlie Lee, a software engineer at Coinbase, created LTC. LTC allows people to pay around the world without any intermediaries. With a total number of 84,000,000 tokens, it will reach an all-time high of $413.47 by 2021.
Market Cap: Over $4 billion
AVAX is an Avalanche native token. Also, Avalanche blockchain operates on the Proof of Stake mechanism and includes intelligent contract support. It is among the most reliable and fast innovative contract platforms within the DeFi space. Similarlly, It is interesting to note that AVAX has an inventory of 720 million tokens. The majority were distributed at the time of its launch in 2020. The remaining ones are still being mined. The mining fee is burned to increase the value of AVAX and does not go to authenticators. AVAX is currently trading at around $15.4 and has reached a record-setting high of $134.87.
Above is an extensive list of the top 10 cryptos to bet on because of the present scenario. The market isn’t volatile and won’t affect the value of these coins; however, they are more reliable and secure than others and offer an impressive return. However, performing the necessary diligence before making any investment is strongly recommended. To invest or trade in any of these cryptocurrencies, choose an established platform such as LotusX.