If you’re someone who wants to expand their investment to cryptocurrencies but have got no idea where to begin, you’ve just landed on the perfect blog.
In this Loan-Geek we’ll embrace you with details regarding The Top 5 Most Popular Cryptocurrencies that are winning the market.
Before moving ahead, let’s first brush up
What exactly is a cryptocurrency?
A cryptocurrency is a digital or virtual currency secured using cryptography (science of protecting information by transforming it into a secure format). It is a form of digital asset based on a network distributed across a large number of computers. Cryptocurrency has no physical existence and can only be traded online.
Cryptocurrencies work on the infamous Blockchain technology which allows users to make secure payments online that are denominated in terms of virtual ‘tokens’.
Let’s move ahead with
The Top 5 Cryptocurrencies that are winning the market –
We can make the best judgement by analysing the Market Capitalisation of the particular Crypto. Below is the list based on the same –
1. Bitcoin (BTC)
Whether or not you’re a finance geek, there’s no chance you have not heard of Bitcoin. Bitcoin was created in 2009, picked up the market in 2020 and as of this writing, remains World’s No.1 Cryptocurrency with a market cap of more than $1.1 trillion.
Bitcoin is thoroughly enjoying the First Mover’s advantage. Five years ago, you could buy one Bitcoin worth $500, the worth of which as of now is $56,574.
2. Ethereum (ETH)
On the list of top 5 cryptocurrencies, Ethereum stands at the second position with the market cap hovering around $500 billion. It was launched in 2015 and has picked up the market really well in the past few years.
In just over five years, its price went from about $11 to over $4,400, increasingly nearly 40,000%. It has also managed to give a tough competition to Bitcoin.
3. Binance Coin (BNB)
Launched in 2017, this crypto is the third-largest cryptocurrency with a market cap of $88 Billion. Binance Coin is a utility cryptocurrency that operates as a payment method for the fees associated with trading on Binance Exchange.
Its price in 2017 was just $0.10; by Oct. 29, 2021, it had risen to over $530, a gain of more than 530,000%.
4. Tether (USDT)
Launched in 2014, Tether is a stable coin, backed up by fiat currencies like U.S. dollars and Euros. As of November 2021, Tether is the fifth-largest cryptocurrency by market capitalization, with a total market cap of $73.7 billion.
5. Solana (SOL)
Launched in 2020, Solana has managed to pick up the market in just over a year. Solana has been the biggest winner of these top cryptocurrencies over the last year.
SOL’s price started at $0.77. By Oct. 29, 2021, its price was almost $201.91, a gain of more than 26,000%.