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- Top 10 Cryptocurrencies in 2022
- Binance Coin
- U.S. Dollar Coin
- Shiba Inu(Shiba)
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Cryptocurrency is one of the latest trends in the financial industry today. Over the past few years, Bitcoin has proven its resilience and maintained its position as the number one cryptocurrency of all time.
According to Coinmarketcap, there are over 17,000 cryptocurrencies in the market out there giving investors numerous options. Given the thousands of options, getting started with crypto investment and trading can be quite a difficult decision.
What will happen in 2022 can be difficult to predict due to price volatility. This article aims to inform you about the top and the latest cryptocurrencies to own as of February 2022.
Before you begin your journey with crypto investment and trading, make sure that you are well equipped, and you are fully aware of how cryptocurrency works. Also, it is essential to find a reliable trading and investment platform such as Bitcoin Motion that will guide and assist you in creating a future of wealth by connecting you to the best brokers in the market. To start trading with the above stated platform, visit their website here.
Top 10 Cryptocurrencies in 2022
Bitcoin is a household name when we talk about cryptocurrencies. It is considered to be undefeated and remained in the top spot among its competitors.
Bitcoin was created in 2008 by an anonymous person or a group of people under the pseudonym Satoshi Nakamoto. Although the creator is unknown, his millions of bitcoin assets remained untouched to this day which adds up to the reputation of the said cryptocurrency.
In the said cryptocurrency, blockchain technology is being used. The technology serves as a public ledger that records all data and transactions. Bitcoin’s highest point was in 2021, when it reached an all-time high of $67,000. And recently, the price of Bitcoin went down to $46,21.80. Although the price of Bitcoin dropped as compared to last year, most experts are still bullish about the days to come.
Currently, the price of Ethereum is around $3,460.91. The second-largest cryptocurrency has a recent total market capitalisation of more than $400 billion. Ethereum is known to be the first choice of most program developers for its features, including smart contracts which enables faster execution of financial transactions when conditions are met. It is also known for NFT or non-fungible tokens.
When you find price volatility unpleasant and just can’t stand the thought of it, then you might want to consider investing in stablecoins. A stablecoin is a cryptocurrency that is backed by fiat currency or external assets. Tether is known to be one of the most popular cryptocurrencies in the market. Its native coin is USDT and has a ratio of 1 is to 1; 1 USDT is equivalent to 1 US dollar.
Avalanche has surged as one of the top 10 cryptocurrencies in the year 2021. Just like a real avalanche, it has made a shocking and remarkable increase in price. It has gained popularity in an instant despite being new in the market. Its overall market capitalization is around $25 billion.
Nowadays, the price of Avax is around $97. The currency claims to have blockchain technology faster than that of Bitcoin and Ethereum with the help of three chains that contribute to the increase in transaction speed.
Binance Coin with a native coin BNB is one of the popular cryptocurrencies under the familiar exchange, Binance. The said exchange caters to BNB and other popular cryptocurrencies. It was launched in 2017. As of April 2022, BNB has a market capitalization of around $74 billion. Check out Binance review article for more information about this exchange.
U.S. Dollar Coin
If you know what Tether is, then you should also familiarise yourself with USDC or US Dollar Coin, which is powered by Ethereum. It is another type of stablecoin that is backed by the US dollar. Its current overall market capitalization is around $51 billion. It’s considered a heft of amount despite being new in the market.
Cardano is also one of the most renowned cryptocurrencies in the market today. It is popular for the proof of stake validation that works without causing too much damage to the environment as compared to its competitors which utilize proof of work validation. Just like Ethereum, the features include decentralized applications as well as smart contracts. Its native coin is ADA. Its total market cap as of today is around $41 billion.
Dogecoin was originally created as a joke for the purpose of making a witty meme. It was designed in 2013 by the Adobe Marketing Manager, Jackson Palmer, and A software engineer, Bilky Markus. However, the joke seemed to be taken seriously as its popularity rose in an instant at its first launch.
Today, the total market cap of Dogecoin is around $19 billion. Originally, its overall supply was around 100 billion. But eventually, the supply limit was removed in order to prevent HODling.
Solana was in fifth place of the top crypto in 2021. Some experts have bullish predictions about the future of this cryptocurrency. Solana claimed to be Ethereum’s competitor. They consider their blockchain to be faster in terms of transactions and its fees are lower. It started off in the market with a trading rate of less than $2, and in early November this year, it hit an all-time high of around $260.
The native coin of Solana is known as Sol. Because of its remarkable transaction speed, Sam Bankman-Fried, CEO of FTX, gave it an advantage over its main competitor, Ethereum.
Just like Dogecoin, Shiba Inu also entered the limelight and gained instant popularity. As a matter of fact, in just a short span, it was already listed in the chart of the top 10 cryptos in the market. In terms of program and language, Shiba Inu uses the same as the one that Dogecoin utilizes. But unlike Dogecoin, which was meant to be a joke, Shiba Inu was created for a different purpose. It is considered an alternative coin that can be traded and invested. The current total market capitalization of Shiba Inu is around $14 billion.
The cryptocurrency world is so vast that there are thousands of cryptocurrencies to choose from. As a result, making a choice that is suitable for your needs and financial goals may not be easy.
New traders’ and investors’ instincts might tell them to pick the longest-running cryptocurrencies in the market such as Bitcoin. However, investing in Bitcoin or Ethereum might require a huge amount of money. This option may not be suitable for small-time investors or for beginners.
As a solution, traders are given the opportunity to invest in alternative coins. Some alternative coins have already established a good impression in terms of their features as well as their price. They are not as costly as the major cryptos out there, but they are considered to be more suitable for those who want to try out investing in crypto. But before dipping your toes in the crypto space, remember to do extensive research and familiarise yourself with all the risks. And most importantly, invest only what you can afford to lose.
Thank you for reading!