In June 2022, the Top 5 Cryptocurrencies to Invest in

In June 2022, the Top 5 Cryptocurrencies to Invest in

Cryptocurrency
June 6, 2022 by Diana Ambolis
189
When you’re just getting started with cryptocurrency, there are dozens of different cryptocurrencies. Ranging from Bitcoin and Ethereum to Dogecoin and Tether. Here is the list of the top 5 cryptocurrencies by market capitalization, which measures how much money is currently in circulation. Market capitalization figures are continually changing according to the law of supply
In June 2022, the Top 5 Cryptocurrencies to Invest in

When you’re just getting started with cryptocurrency, there are dozens of different cryptocurrencies. Ranging from Bitcoin and Ethereum to Dogecoin and Tether. Here is the list of the top 5 cryptocurrencies by market capitalization, which measures how much money is currently in circulation.

Market capitalization figures are continually changing according to the law of supply and demand. The figures in the table below are estimates for March 22, 2022.

A Brief History of Cryptocurrency

The ticker symbol, which acts as a kind of identification for trading purposes, appears after each cryptocurrency, such as BTC.

Bitcoin (BTC) has a market capitalization of $880 billion dollars.

Bitcoin (BTC) was made by Satoshi Nakamoto’s alias Satoshi Nakamoto. BTC, like other cryptocurrencies, is built on a blockchain, which is a distributed ledger that tracks transactions across thousands of computers. Because changes to distributed ledgers must be authenticated by solving a cryptographic challenge, Bitcoin is protected from fraudsters.

Bitcoin’s price has soared as it has become a household name. A Bitcoin was traded for around $500 in May 2016. On June 1, 2022, a single Bitcoin was valued at more than $46,300. That’s a rise of over 9,000 percent.

The market capitalization of Ethereum (ETH) is $415 billion dollars.

It has many potential uses, such as smart contracts that run when specific conditions are met and non-fungible tokens, ETH, both a cryptocurrency and a blockchain platform, is a darling among programmers (NFTs). Ethereum has also exploded in popularity. Its price climbed by more than 31,000 percent from June 2016 to June 2022, rising from under $11 to over $3,450.

Binance Coin (BNB) has a market worth of $68 billion.

Binance Coin can be used to trade and pay fees on one of the largest cryptocurrency exchanges in the world, Binance. Since its launch in 2017, Binance Coin has evolved beyond simply performing transactions on Binance’s exchange platform. It can now be used for business purposes, payment processing, and even trip planning. It can also be exchanged for other cryptocurrencies such as Ethereum or Bitcoin. The cost of BNB in 2017 was only $0.10. By June 2022, the price had risen to about $445, a gain of nearly 445,000 percent.

Also, read – Cryptocurrencies and their Relationship with the World Economy

Solana (SOL) has a market valuation of $14 billion.

Solana uses blockchain technology to provide decentralized financial solutions as an open-source crypto project (DeFi). Because of the project’s tremendous scalability, users and developers can trade for less than $0.01. It’s also highly quick and inexpensive, ensuring that the network is always open to new applications and transactions. Solana is also an outspoken opponent of censorship. Solana has continued to rise to new heights since its debut, attracting investors from all corners of the market. Experts predict a 400 percent increase in the next months.

Cardano (ADA) has a market worth of $39 billion.

Cardano, which came later to the crypto market, is known for being one of the first to allow proof-of-stake validation. Cardano, like Ethereum, allows smart contracts and decentralized apps using its native coin, ADA. This technique minimizes transaction time, energy use, and environmental impact by eliminating the competitive, problem-solving portion of transaction verification present in systems like Bitcoin. Cardano’s ADA token has risen slowly compared to other major cryptocurrencies. The price of ADA in 2017 was $0.02. As of June 1, 2022, its current value was $1.17. This is a 5,750% increase.

Conclusion

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