Popular Cryptocurrencies Right Now

 

Ever since the anonymous Satoshi Nakamoto released his Bitcoin whitepaper in 2008, blockchain technology has grown from strength to strength.

From being used as a means of exchange to facilitating the delivery of two pizzas (10,000 Bitcoins), the value of Bitcoin has increased exponentially. Today, Bitcoin price equals more than $50k, a figure previously unimagined for an invention with somewhat dubious origins.

To many, cryptocurrency is a dubious scheme whose burst period is drawing close. However, against all odds, many altcoins are thriving, the most prominent of which is Ethereum.

Cryptocurrencies are valued based on their market cap. This is calculated by multiplying the total circulation with the current value. Thus, the market cap is the primary aggregate that determines the financial value of crypto coins.

Cryptocurrencies, coins

With all the hype that Shiba Inu and Dogecoin get, you'd be forgiven for thinking that they'd be the most valuable cryptocurrencies. In the crypto sphere, popularity and speculation do not always mean value. Some of the lesser-known tokens actually have more value than some well-known ones.

This article will provide a list of some of the most popular cryptocurrencies presently, giving reasons for their popularity. Read on!

 

Bitcoin

With a market cap of $1 trillion, Bitcoin sits at the top spot comfortably, primarily by virtue of the fact that it is the first cryptocurrency. To put this into context, it would far outstrip Tesla and Meta Platforms in value, if it was an actual company.

Today, Bitcoin is worth $54,387, which is massive for a token that was worth much less when it was first launched in 2009.

Compared to altcoins, Bitcoin's transaction processing speed per block is much less. Nevertheless, its value continues to rise. Many investors view Bitcoin as an excellent hedge in cases of inflation. This is because the amount of tokens in circulation is fixed at 21 million Bitcoins.

 

Ethereum

Ethereum holds the honor of being the most valuable altcoin. While Bitcoin's status as the number one cryptocurrency is close to being set in stone, Ethereum comes second, even if a distant second. Nevertheless, it has been predicted even to outstrip Bitcoin in value in the future.

This is because of Ethereum's approach to blockchain technology. In the cryptocurrency market, Ethereum is unique for its protocols and support for decentralized apps. Ethereum allows developers to build decentralized apps on its network, providing an additional avenue for earning.

Today, Ethereum's market cap is nearly $500 million, making it firmly placed to dominate for years to come. With several investors looking to invest in cryptocurrency and buy Ethereum, Ethereum is, quite naturally, the preferred choice.

 

Binance Coin (BNB)

Binance is the number one exchange platform in the world. Thus, it is no surprise to see that BNBs are some of the most popular tokens in the world.

Binance Coins are highly sought after because their owners are offered special discounts on the Binance exchange when making trades and certain transactions on the network.

Today, the value of BNB is more than $600.

 

Tether

Tether is a bit different from the other cryptocurrencies in this list because it is a stable coin. The difference between stable coins and other cryptocurrencies is that the values of the former are usually pegged to a fiat currency.

In the case of Tether, its value is pegged to the US dollar. Stable coins can be a haven for investors because their financial values do not fluctuate as wildly as regular crypto. In other words, they are less volatile than other cryptocurrencies.

For investors who do not like to take many risks, stable coins are great forms of investment.

 

Solana

Solana is a relatively new cryptocurrency that has gained popularity and value by more than 10,000% over the space of a year. Its rise has been meteoric, to say the list, with many early investors now reaping the rewards of their persistence.

Today, Solana is worth $193, with a market cap of $58.8 billion.

 

Conclusion

On first observation, the go-to cryptocurrency would appear to be Bitcoin. It is not only more popular than the rest. Its value is also much higher. Ethereum, in second place, does not even come close in terms of financial value.

Nevertheless, investors are advised to look for cryptocurrencies sporting the latest technologies like decentralized finance and support for DApps. In the future, there just may be another coin outstripping Bitcoin in value.

 

This article was published on 12/22/2021.