8 Popular Cryptocurrencies you should Invest in 2021
Every day, cryptocurrency makes headlines, and it was recently all over the news due to a large market drop following China’s prohibition on cryptocurrency use. When the news broke, all cryptos turned red and have since slowly recovered. Bitcoin, the most valuable cryptocurrency, fell more than 23% to $30,415, its lowest level this year. Other cryptocurrencies have followed the bad trend, with Ethereum down 22%, Binance Coin down 24%, Cardano down 19%, and Dogecoin down 24%.
When news of China’s crypto crackdown rocked the cryptocurrency market, JP Morgan released a report claiming that investors were selling their Bitcoins for gold. This gave the market even more cause to fall. Despite this, the anti-Elon Musk cryptocurrency StopElon has grown by more than 1,800%.
Top Performing Cryptocurrencies
The question now is, what are the best cryptocurrencies to invest in following the market crash? One way to do so is to look at the company’s market capitalization. While it is simple to see the real-time price, it does not provide the investor with the complete picture. Here are the top cryptos to buy today, in May 2021, based on market cap.
- Bitcoin (BTC)
Market Cap: $732 billion
Since its inception in 2017, Bitcoin’s price has risen from under $1,000 to over $60,000. Last week, the value of Bitcoin plummeted due to a tweet by Elon Musk stating that Tesla will no longer take Bitcoin. But that’s no excuse to overlook the stock’s massive market capitalization. Today’s Bitcoin price is $39,328.
- Ethereum (ETH)
Market Cap: $304 billion
In the years 2020 and 2021, the price of Etherum rose from $200 to around $3,000. It broke its record in May, reaching a high of $4,350 before plummeting this week. The current price of ethereum is $2,647.
Market Cap: $41.3 billion
Ripple was a no-show for the majority of 2017 and 2018, only rising to $0.60 in 2020. Ripple’s current price is $1.17, following the market’s fall.
- Tether (USDT)
Market Cap: $58.4 billion
Tether is the market leader in terms of “stable coins.” The value of stable coins is determined by the currency they are tied to, which is the US dollar in the case of Tether. As a result, the value of a Tether will always be $1, with no changes.
- Cardano (ADA)
Market Cap: $52.3 billion
Cardano is one of the most cost-effective and promising cryptocurrencies currently available. Cardano’s price rose to around $2 in early 2021 after starting at $0.10. It fared better than many other coins in the face of market swings, but it eventually fell by roughly 20%. Cardano is now trading at $1.63.
- Polkadot (DOT)
Market Cap: $26.6 billion
Polkadot, which was launched in 2020 and was trading for a nickel until recently, is a relatively young cryptocurrency. The market meltdown, on the other hand, did not help the price. Polkadot is currently $27.
- Bitcoin Coin (BNB)
Market Cap: $59.2 billion
Binance, created by the cryptocurrency exchange Binance, was released in 2017 and has gradually risen to $60 per coin. The value increased to around $600 in February 2021. Binance Coin’s price is now $364 after suffering the same fate as every other crypto in the market during the meltdown.
- Bitcoin Cash (BCH)
Market Cap: $14.5 billion
Bitcoin Cash is not the same as Bitcoin. When compared to Bitcoin, Bitcoin Cash had a lofty target to achieve in terms of value. It peaked at over $4,000 in 2018 before settling at $400 in subsequent years. The value recently soared to $1,500 but has since progressively declined to $770 today.