Top 5 Crypto Currencies 2022
From Bitcoin and Ethereum to Tether and Ripple, there are thousands of different cryptocurrencies, which can make it difficult when you’re first getting started in the world of crypto. To help you to get an overview, these are the top 5 cryptocurrencies based on their market capitalization, or the total value of all of the coins currently in circulation.
Market cap: Over $730 billion
1. Bitcoin (BTC)
Bitcoin is the original cryptocurrency, Created in 2009 by someone under the pseudonym Satoshi Nakamoto. As with most cryptocurrencies, BTC runs on a blockchain, distributed across a network of thousands of computers. A process called proof of work, Bitcoin is kept secure and safe from fraudsters. Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy a Bitcoin for about $500. As of Feb. 1, 2022, a single Bitcoin’s price was over $38,000. That’s growth of about 7,600%.
Market cap: Over $327 billion
2. Ethereum (ETH)
Ethereum is a cryptocurrency and a blockchain platform, which makes Ethereum a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs). It counts as the larges concurrent to Bitcoin .
Market cap: Over $78 billion
3. Tether (USDT)
Tether is currently the biggest stablecoin, 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 the case of Tether, the coin is equalized to the USD.
Market cap: Over $63 billion
4. Binance Coin (BNB)
The Binance Coin can be used on the same named crypto exchange Binance. It was launched 2017 and has expanded to other exchange platforms to the 4. largest currency world wide. It can be used to pay fees on Binance or send payments with cheap transaction fees.
Market cap: Over $78 billion
5. U.S. Dollar Coin (USDC)
USD Coins is a stablecoin like Tether and it’s backed by USD for a 1 USD to 1 USDC ratio. The coin is powered by the Ethereum protocol and can be used to make global transactions. It was launched and developed by the Coinbase Exchange Team.
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