From Bitcoin to Solana – Top Five Cryptocurrencies

Cryptocurrency

The buzz around cryptocurrencies has gotten louder than ever with new all-time highs making digital currencies more appealing to mainstream investors and bringing new names like “Solana” all the way to the top.

Bitcoin, a crowd favorite, reached an all-time high worth USD70 thousand each, which is approximately a 125 percent increase in 2021.

The big question crossing many minds is “What should I invest in?” Below are the field’s top five coins to consider investing in.

The OG – Bitcoin

The biggest name in the business is currently worth more than USD1.2 trillion in market capitalization, based on statements by CoinMarketCap. Launched back in 2009, this digital currency is more than 10 times more valuable than the number two coin in the market.

Second Best – Ethereum

At the moment, Ethereum holds second place in the world of cryptocurrencies, making it one of the most popular and valuable in the market with a market cap of approximately USD560 billion. Launched in 2015, the value of Ethereum, also called Ether, increased more than 540 percent in 2021. According to CoinDesk, this digital currency reached an all-time best just shy of USD5,000 last week.

Third Place – Binance Coin

With a market cap of more than USD100 billion, Binance Coin, also referred to as BNB token, is the third-largest digital currency. This coin is a product of the Binance Exchange, which is the biggest cryptocurrency platform. Tokens are regularly “burned” to reduce the total supply and stabilize its market value over time, making it less possible for investors’ holdings to fluctuate in value like other digital currencies. Interestingly, unlike other cryptocurrencies, BNB tokens can only be exchanged into other digital currencies, not fiat currencies.

Something Stable – Tether

Pegged to the USD, Tether is a stablecoin and holds a market cap of approximately USD74 billion. The Tether is considered relatively stable because it is bench-marked to a fiat currency, which is why Investors buy these digital currencies as a means of storing money rather than making profit. They are often used to trade digital currencies as well as other types of financial exchanges, sometimes overseas.

The Newbie – Solana

Seen as a competitor to Ethereum, Solana is a blockchain network with its own digital currency known as Sol, which was launched in March of last year. According to CoinGecko, this cryptocurrency has risen more than 10,000 percent over the past 12 months from USD2 per sol to more than USD200. This brings the market cap to more than USD70 billion, ahead of Cardano and XRP, which have previously held spots among the top five digital currencies.

Source: CNN


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