Top 10 Cryptocurrency
Here is the list of Top 10 Cryptocurrencies, which are the most demanding and buying and selling cryptocurrencies.
1. Bitcoin (BTC)
Market cap: $565 billion
In 2009, Satoshi Nakamoto created the first cryptocurrency, Bitcoin (BTC). BTC, like most cryptocurrencies, is built on a blockchain, which is a distributed ledger that records transactions across thousands of computers. Bitcoin is secured and protected from fraudsters by solving a cryptographic puzzle, a process known as "proof of work."
Bitcoin's value has increased in tandem with its popularity. One bitcoin could be purchased for around $500 in May 2016. A single bitcoin was worth approximately $29,700 on June 1, 2022. This represents a more than 5,800% increase.
2. Ethereum (ETH)
Market cap: $219 billion
Ethereum, both a cryptocurrency and a blockchain platform, is popular among programmers because of the potential applications it offers, such as smart contracts that execute automatically when certain conditions are met and non-fungible tokens (NFTs).
Ethereum has also experienced rapid growth. Its price increased by nearly 16,300 percent between April 2016 and the beginning of June 2022, rising from around $11 to more than $1,800.
3. Tether (USDT)
Market cap: $72 billion
Tether (USDT) is a stablecoin, which means it is backed by fiat currencies such as US dollars and Euros and has a theoretical value equal to one of those denominations. In theory, this means that the value of Tether should be more stable than that of other cryptocurrencies, and it is preferred by investors who are concerned about the extreme volatility of other coins.
4. U.S. Dollar Coin (USDC)
Market cap: $54 billion
USD coin (USDC) is an Ethereum-based stablecoin, which is a type of digital asset tied to the US dollar 1:1. This means that holders can always exchange 1 USD coin for $1. Each USDC is backed by one dollar or an equal-value asset, both of which are held in accounts with US-regulated financial institutions.
5. Binance Coin (BNB)
Market cap: $49 billion
Binance Coin (BNB) is a cryptocurrency that can be used on Binance, one of the world's largest cryptocurrency exchanges, to trade and pay fees. Binance Coin has evolved beyond simply facilitating trades on Binance's exchange platform since its inception in 2017. It can now be used to trade, make payments, and even book travel. It can also be exchanged or traded for other cryptocurrencies such as Ethereum or Bitcoin.
6. XRP (XRP)
Market cap: $19 billion
XRP, a digital technology and payment processing company founded by some of the same people as Ripple, can be used on that network to facilitate exchanges of various currency types, including fiat currencies, as well as other major cryptocurrencies.
XRP was worth $0.006 at the start of 2017. Its value reached $0.40 on June 1, 2022, representing a gain of over 6,400%.
7. Cardano (ADA)
Market cap: $18 billion
Cardano (ADA), a latecomer to the crypto scene, is notable for its early adoption of proof-of-stake validation. This method reduces transaction time, energy usage, and environmental impact by removing the competitive, problem-solving aspect of transaction verification found in platforms such as Bitcoin. Cardano, like Ethereum, enables smart contracts and decentralized applications powered by its native coin, ADA. Cardano's ADA token has grown slowly in comparison to other major crypto coins. The price of ADA in 2017 was $0.02.On June 1, 2022, its price was $0.55. This represents a 2,650% increase. The price of BNB in 2017 was only $0.10. By early June 2022, the price had risen to around $300, a gain of approximately 300,000 percent.
8. Binance USD (BUSD)
Market cap: $18 billion
Binance USD (BUSD) is a stablecoin developed by Paxos and Binance to create a cryptocurrency backed by the United States dollar. Paxos holds an amount of USD equal to the total supply of BUSD to maintain this value. BUSD, like other stablecoins, enables traders and cryptocurrency users to conduct transactions with other cryptocurrencies while minimizing volatility risk.
9. Solana (SOL)
Market cap: $14 billion
To process transactions quickly and securely, Solana, which was designed to power decentralized finance (Defi) applications, decentralized apps (DApps), and smart contracts, employs a unique hybrid proof-of-stake and proof-of-history mechanism. Solana's native token powers the platform.
The initial price of SOL in 2020 was $0.77. Its value had risen to around $40.58 by early June 2022, a gain of more than 5,100%.
10. Dogecoin (DOGE)
Market cap: $11 billion
Dogecoin started as a joke in 2013, but thanks to a dedicated community and creative memes, it quickly grew into a prominent cryptocurrency. Unlike many other cryptocurrencies, there is no limit to how many Dogecoins can be created, making the currency vulnerable to depreciation as supply grows. In 2017, Dogecoin was worth $0.0002. By the end of 2022, its value had increased nearly 40,000% to $0.08.