2022 Top 10 Cryptocurrencies

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There are dozens of cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether, making it difficult to get started in the world of crypto. To help you navigate, these are the top ten cryptocurrencies by market capitalization, or total value of all coins in circulation.

Bitcoin (BTC): $846 billion

Bitcoin (BTC) is the initial cryptocurrency, created in 2009 by Satoshi Nakamoto. BTC, like most cryptocurrencies, relies on a blockchain, a distributed ledger documenting transactions across thousands of computers. By requiring users to solve a cryptographic puzzle before adding transactions to the ledgers, Bitcoin is kept secure from hackers.

Bitcoin’s price has soared as it has gained popularity. In May 2016, a Bitcoin cost around $500. On March 1, 2022, a Bitcoin was worth about $44,000. That’s a 7,800% increase.

ETH (ETH)

With its smart contracts that automatically execute when conditions are met and non-fungible tokens, Ethereum is a cryptocurrency and blockchain platform that programmers love (NFTs).

Ethereum has also grown rapidly. From April 2016 to early March 2022, its price increased by almost 27,000 percent from $11 to over $3,000.

Tether (USDT)

Tether, unlike some other cryptocurrencies, is a stablecoin, meaning it is backed by fiat currencies like the US dollar and the Euro. In principle, this implies Tether’s value should be more stable than other cryptocurrencies, which is why investors prefer it over others.

Binance (BNB)

On one of the world’s major crypto exchanges, Binance, you may use the Binance Coin to trade and pay fees.

Binance Coin, launched in 2017, has evolved beyond simply allowing deals on Binance’s market. It can now be used for trading, payment processing, and even travel booking. It can also be traded for other cryptocurrencies like Ethereum or Bitcoin.

In 2017, BNB cost only $0.10. Its value has climbed to over $413 by early March 2022, a 410,000% increase.

US. Dollar Coin (USDC)

USD Coin (USDC) is a stablecoin, like Tether, backed by dollars and aiming for a 1:1 USDC ratio. USDC is based on Ethereum and can be used for global transactions.

XRP (XRP)

Coin XRP was created by some of the same founders of Ripple, a digital technology and payment processing startup.

XRP was $0.006 at the start of 2017. Its price rose to $0.80 in March 2022, a gain of around 12,600%.

Terra (LUNA)

Terra is a blockchain payment mechanism for stablecoins that keeps two cryptocurrencies in balance. Terra-backed stablecoins like TerraUSD are pegged to fiat currency values. Luna, on the other hand, powers the Terra platform and mints new Terra stablecoins.

Supply and demand drive Terra stablecoins and Luna: When a stablecoin’s price exceeds its associated currency’s worth, users are encouraged to burn Luna to create more Terra. When its value falls relative to its base currency, users are encouraged to burn Terra stablecoins to mint Luna. As Terra platform use grows, so does Luna’s value.

From $0.64 on Jan. 3, 2021 to the start of March 2022, Luna has risen 14,200% to $92.

Cardano (ADA)

Cardano is renowned for adopting proof-of-stake validation early in the crypto sector. Since transaction verification is no longer competitive or problem-solving in platforms like Bitcoin, it saves time, energy, and reduces environmental impact. Cardano, like Ethereum, uses ADA, its native coin, to power smart contracts and decentralized apps.

Compared to other major crypto coins, Cardano’s ADA token has grown slowly. ADA cost $0.02 in 2017. On March 1, 2022, it was $0.99. This is a 4,850% increase.

Solana (SOL)

Solana employs a hybrid proof-of-stake and proof-of-history mechanism to process transactions swiftly and securely. The platform is powered by SOL.

SOL debuted for $0.77 when it premiered in 2020. By March 1, 2022, it was worth roughly $101.

Avalanche (AVAX)

Avalanche, like Ethereum and Cardano, provides blockchain software that can construct and execute smart contracts (in this case, AVAX). Also Avalanche has developed swiftly since its inception in 2020, because to low gas fees and quick transaction processing.

From July 12, 2020 to March 1, 2022, AVAX went from $4.63 to $89.84.

*March 1, 2022 market cap and pricing.

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