The Top 6 Cryptocurrencies Besides Bitcoin
Updated: Aug 11
The world of cryptocurrencies has changed how many people look at investing. With many cryptocurrencies making considerable gains in brief periods, a lucky few have become millionaires overnight. Below are five predictions I feel we'll see in 2022 and in the years to come.
1. Ethereum (ETH)
Market cap: $415 billion
Ethereum is a second favorite right after Bitcoin, doubling as a cryptocurrency and a blockchain platform. Many program developers rave over Ethereum and its potential applications, from smart contracts to NFTs. The possibilities are endless. From April 2016 to April 2022, the price of Ethereum has gone from a mere $11 to over $3,450 per token.
2. Tether (USDT)
Market cap: Over $79 billion
Tether (USDT) is a stablecoin, which means it's backed by fiat money such as the U.S. dollar or Euro. At least in a hypothetical sense, this does provide a certain amount of stability, just like any currency of any major nation.
3. Binance Coin (BNB)
Market cap: Over $68 billion
Third on the list is the Binance Coin, a cryptocurrency used to pay fees and trade on the Binance crypto trading platform, one of the largest exchanges worldwide. Since its creation in 2017, BNB has gone from a valuation of $0.10 to now, in April 2022, worth $445, a 445,000% increase.
4. U.S. Dollar Coin (USDC)
Market cap: Over $53 billion
Much like Tether, USDC is also a stablecoin powered by Ethereum; it's exchangeable one for one because the American dollar backs it.
5. Solana (SOL)
Market cap: $44.5 billion
Solana works to process transactions very quickly and helps to power decentralized finance (Defi) applications, decentralized apps (DApps), and smart contracts. Between 2020 SOL's price has gone from $0.77, and now in 2022, it's worth $136.
6. Ripple (XRP)
Market cap: $40 billion
Ripple's coin XRP operates as a network to help process currency exchanges from one kind of currency to another, making this process much more efficient and streamlined. In 2017 the price of XRP went from $0.006 to 2022 when the token reached $0.83.
Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.