There are thousands of cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether, which can be overwhelming when you’re just getting started. These are the top 11 Best cryptocurrencies based on their market capitalization or the total value of all coins currently in circulation.
- Bitcoin (BTC)
- Market cap: Over $1.17 trillion
Bitcoin (BTC) is the original cryptocurrency, created by someone using the pseudonym Satoshi Nakamoto in 2009. BTC runs on a blockchain or a shared ledger that logs transactions across a network of thousands of computers. Because additions to the distributed ledger must be verified by solving a cryptographic puzzle, or proof of work, Bitcoin remains secure and safe from fraudsters.
As Bitcoin has become a household name, its price has skyrocketed. Five years ago, a Bitcoin cost $500. As of Oct. 29, 2021, the price of a single Bitcoin was over $62,000. This represents a growth of about 12,300%.
- Ethereum (ETH)
- Market cap: Over $520 billion
Ethereum is both a cryptocurrency and a blockchain platform, a favorite of programmers because of its various applications, such as smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
Ethereum has also experienced rapid growth. After just over five years, the price went from about $11 to over $4,400, an increase of nearly 40,000%.
- Binance Coin (BNB)
- Market cap: Over $88 billion
Binance Coin (BCN) is a cryptocurrency that can be used to trade coins and pay fees on Binance, one of the world’s largest cryptocurrency exchanges.
Binance Coin has grown beyond simply facilitating trades on Binance’s exchange platform since its launch in 2017. Now, it can be utilized for trading, payment processing, or even making travel planning. It can additionally be traded or exchanged for other cryptocurrencies, such as Ethereum or Bitcoin.
The price in 2017 was only $0.10; by Oct. 29, 2021, it had climbed to over $530, a return of more than 530,000%.
- Tether (USDT)
- Market cap: Over $70 billion
Tether is a stablecoin, which means it’s backed by fiat currencies such as the U.S. dollar and the Euro and keeps an equal value to one of those currencies. Consequently, Tether’s value is supposed to be more consistent than other cryptocurrencies, and it is favored by investors who are wary of the extreme volatility of other cryptocurrencies.
- Cardano (ADA)
- Market cap: Over $66 billion
Cardano came somewhat later to the crypto scene, but it is notable for its early adoption of proof-of-stake validation. The method shortens transaction times and reduces energy usage and environmental impact by eliminating the competitive, problem-solving aspect of transaction verification found in platforms such as Bitcoin. ADA, Cardano’s native coin, also enables smart contracts and decentralized applications like Ethereum.
In comparison to other major crypto coins, Cardano’s ADA token has experienced relatively modest growth. The price of ADA was $0.02 in 2017. On Oct. 29, 2021, its price was $2.01. This represents an increase of almost 10,000%.
- Solana (SOL)
- Market cap: Over $60 billion
Deployed to support decentralized finance (DeFi), decentralized applications (DApps), and smart contracts, Solana uses a hybrid proof-of-stake and proof-of-history mechanism that enables it to process transactions quickly and securely. The platform is powered by SOL, Solana’s native token.
SOL’s price began at $0.77 in 2020. On Oct. 29, 2021, its price was almost $201.91, a gain of over 260%.
- XRP (XRP)
- Market cap: Over $50 billion
Initiated by the same founders of Ripple, a New Genration Technology and payment processor company, XRP can be used on that platform to facilitate exchanges of different currencies, including fiat currencies and other major cryptocurrencies.
The price of XRP was $0.006 at the beginning of 2017. On Oct. 29, 2021, its price reached $1.08, an increase of 17,900%.
- Polkadot (DOT)
- Market cap: Over $43 billion
Polkadot (and its namesake cryptocurrency) aims to integrate the various blockchains by creating a cryptocurrency network that connects them so they can work together. This integration may change the way cryptocurrencies are managed and has spurred impressive growth since Polkadot’s launch in 2020. Its price grew 1,400% between September 2020 and Oct. 29, 2021, from $2.93 to $44.19.
- Shiba Inu (SHIB)
- Market cap: Over $41 billion
Shiba Inu, created in mid-2020, is one of the latest so-called meme coins to gain popularity. The coin runs on the Ethereum network. The initial price of SHIB, $0.0000000014, is still far below a single cent, yet its value has risen to $0.00007567, a 5,400,000% gain.
- Dogecoin (DOGE)
- Market cap: Over $38 billion
Thanks to celebrity backers and billionaires like Elon Musk, Dogecoin has been a hot topic. With a dedicated community and creative memes, Dogecoin quickly became a popular cryptocurrency option in 2013. While other cryptos, such as Bitcoin, have a limit on the number of coins that can be created, Dogecoin has no limit, which makes it susceptible to devaluation as the supply rises.
In 2017, the worth of Dogecoin was $0.0002. By Oct. 29, 2021, its price was $0.29, an increase of almost 145,000%.
- SMD Coin(SMD)
SMD Coin has positioned itself as one of the Top New cryptocurrencies suitable for crypto investment in November 2021 with its record-high trade on July 2021. The cryptocurrency token is popular among crypto investors to use for staking, bonding, and governance.
It is expected that the price of the SMD cryptocurrency will increase the post-impending launch of Centraziled Exchange & Blockchain.
In Starting of 2021, the worth of SMD Coin was $0.013. By Oct. 29, 2021, its price was $0.07, an increase of almost 538%
*Market caps and valuations current as of Oct. 29, 2021.
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