Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. BTC is also known as ‘digital gold’ and is the world’s largest cryptocurrency. Bitcoin’s price per token has surged roughly 113% a year and has hit a new lifetime high of roughly US$67,000 per token.
The Ethereum blockchain is rapidly gaining crypto and is almost always in competition with Bitcoin. With a market capitalization of roughly US$469 billion, Ethereum or ether stands as the second-largest cryptocurrency by market cap. Recently, ether’s share in the crypto market recently rose from 18 percent to 20 percent. It is a decentralized blockchain platform that cuts out third parties. Ether’s price per token has surged roughly 458% across 2021’s trading, according to the report.
Cardano is also a decentralized blockchain platform that uses a native cryptocurrency. It is notable for its early embrace of proof-of-stake validation. Cardano (ADA) enables secure peer-to-peer transactions. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin. Cardano’s ADA token has had relatively modest growth compared to other major crypto coins.
Launched in 2013, Ripple is one of the largest digital asset projects in the industry, with a market capitalization of tens of billions of dollars. Ripple’s total supply of 100 billion XRP tokens still qualifies it as a low-value crypto asset. Currently, Ripple is used for cross-border payments by over 250 banks and has an impressive transaction processing time with minimal fees.
Dogecoin is one of the meme coins, a cryptocurrency based on or inspired by memes. There are 128 meme coins with a total market cap of over US$44 billion. The largest meme coin is Dogecoin with a market capitalization of US$32 billion. According to its website, Dogecoin is an “open-source peer-to-peer digital currency, favored by Shiba Inus worldwide”. Shiba Inu is a breed of hunting dog from Japan. Notably, SHIBA INU (SHIB) is a different cryptocurrency. DOGE coin has earned a high mining rate since its launch. in 2021, Dogecoin got a lot of attention from Reddit users and of course Elon Musk. Interestingly, Elon Musk also possesses Dogecoin, along with Bitcoin and Ether.
Shiba Inu on Sunday soared to record highs over the weekend to become the 11th-biggest cryptocurrency by market value. Founded in 2020 by an anonymous person going by the name Ryoshi, SHIB was up 50% on Sunday and reached an all-time high. Shiba Inu coin’s website refers to it as ‘a decentralized meme token that evolved into a vibrant ecosystem.’ In September, Shiba Inu surged nearly 40 percent after US-based Coinbase said its customers can trade, send, receive, or store SHIB on its platform.
Polkadot enables cross-blockchain transfers of any type of data or asset, not just tokens. This currency provides a bridge for networks so that many applications built on Polkadot can also work on Ethereum and Bitcoin. However, it is more scalable and faster. Polkadot already has monetary value in exchanges, making it crypto worth watching.
Unlike some other forms of cryptocurrency, Tether is a stable coin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.
Binance Coin (BNB)
The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing, or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin. Its price in 2017 was just US$0.10; by Sept. 30, 2021, it had risen to over US$382, a gain of more than 382,000%.
USD Coin (USDC)
Like Tether, USD Coin (USDC) is a stablecoin, meaning it’s backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.
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