Crypto has very soon taken the position of King of Finance. It will not be exaggerating to say that when we see the overwhelming performances of the top 10 Bitcoin currencies. There are various of them in the market from Bitcoin to Ethereum. But let’s focus on the performances of these top 10 Bitcoin miners.
For our new bees lets us first have a basic understanding of Cryptocurrency.
What are cryptocurrencies?
A currency that is an asset but an electronic one that can be circulated in the market without disclosing its identity, without any supervision from the center like government bodies or the banking industry. There are around 20000 different such projects working on cryptocurrency, which infuse around $870 Billion.
Top 10 Cryptocurrencies:
#1. Bitcoin (BTC)
Bitcoin (BTC) Market Capital is around 370 billion dollars
It is the original cryptocurrency founded by Satoshi Nakamoto in the year 2009. BTC works upon cryptographic blockchain. The logs of these ledger transactions are being distributed across a network which could include thousands of computers. One can assure its safety of it from hackers as the verification is done through cryptographic puzzles.
Bitcoin’s value has increased dramatically since it became a household brand. Bitcoins were available for as little as $500 back in May 2016. On July 1, 2022, the price of one Bitcoin was approximately $19,000. This represents an increase of more than 3,780%.
#2. Ethereum (ETH)
Ethereum (ETH) Market Capital is around 128 billion dollars
Ethereum shares the platform of Blockchain and cryptocurrency. Because of its potential applications, it is favored by program developers. For example, smart contracts execute automatically upon certain conditions and non-fungible tokens ( NFTs). It has also seen phenomenal growth, seeing its value go up by 9,509% between 2016, April to 2022, and July.
#3. Tether (USDT)
Tether’s (USDT) Market Capital is around 66 million dollars.
This currency, unlike others, is backed by fiat currencies such as Euros and U.S. dollars. It hypothetically tries to keep the price equal to the price value of these currencies or denominations. It is more stable than the other cryptocurrencies and hence attracts investors who don’t want to risk their investment in a volatile market.
#4. U.S. Dollar Coin (USDC)
U.S. Dollars Coin (USDC) Market Capital is around 55 Billion dollars
This one is also a stablecoin and is backed by U.S. dollars. Its main aim is to achieve a balanced ratio of 1:1 between the 1USDC to 1 USDC. That is why it is convenient to use for global transactions, and it also uses Ethereum.
#5. Binance Coin, BNB
Binance Coin’s (BNB) Market Capital is around $35 billion
BNB is the other name for this coin. It is used for trading and paying fees on Binaryance. It was founded in the year 2017 and is supposed to be the largest crypto exchange. It facilitates trades on Binance’s cryptocurrency exchange platform. It can be used to make payments, trade, and book travel arrangements. It can also be exchanged or traded for other cryptocurrency forms, like Ethereum or Bitcoin.
BNB was worth $0.10 in 2017. BNB’s 2017 price was just $0.10.
#6. Binance USD
Binance USD Market Capital is around $17B
Its other name is Binance USD, a stablecoin again in Paxos. It is also backed by U.S. currency.
Paxos is able to hold a total of USD equal to the amount of BUSD. Binance again is stable hence investors love to engage these coins for transactions.
#7. XRP (XRP)
XRP Market Capital is around $15 billion
XRP was developed by some of the same founders that Ripple is a digital technology payment processing company. It can be used to facilitate the exchange of various currency types, including fiat currencies and major cryptocurrencies on that network.
At the beginning of 2017, XRP’s price was $0.006. Its current price was $0.006.
#8. Cardano (ADA)
Cardano (ADA) Market Capital is around $15 billion
Cardano was a pioneer in cryptocurrency acceptance. This method speeds up transactions and reduces energy use. Additionally, it has a positive environmental impact because, as Bitcoin, the problems and competitiveness aspects involved in transaction verification is being removed by it. Cardano functions similarly to Ethereum and allows for smart contracts and decentralized applications. ADA has the power.
Cardano’s ADA coin has had a very modest growth rate compared with other currencies, the major cryptocurrency. In 2017, ADA had a price of $0.02. As of July 1, 2018, its price was $0.02. This is a rise of 2,100%.
#9. Solana (SOL)
Solana (SOL) Market Capital is around 11 Billion dollars
This currency ensures that the transactions proceed securely and fast. The tokens are native so it helps this currency to have power on this platform. There is a proper system that ensures the stake’s and its history’s proof
Now the price of this coin is $40.58. There is a profit of 5,100%
#10. Dogecoin(DOGE)
Dogecoin Market (DOGE) Capital is around 8 Billion dollars
Dogecoin is a famously joke-based cryptocurrency that was created in 2013. It has since grown to become a cryptocurrency that is well known because of a community that is dedicated and has a creative craze. There is no limit on how many Dogecoins could be created, making the currency more vulnerable to an increase in supply.
The price of DOGE was $0.0002. The price of dogecoin had increased by 32,400% to $0.065, on July 1, 2022.
ABOUT AUTHOR
Steven Burnett has over 15 years of experience in a range of industries and domains. Steven has a flair for gathering data and information through extensive research efforts, and has a strong set of skills to cover almost any domain with ease and produce reports that are easy to understand and aid in making well-informed decisions. You can get in touch with him here. Phone No: +1 315-447-6937 Email: steven.b@coinlaw.io
