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The Top 10 Cryptocurrency You Much Know 2022

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From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrencies, which can make it overwhelming when you’re first getting started in the world of crypto. To help you get your bearings, these are the top 10 cryptocurrencies based on their market capitalization or the total value of all the currently circulating coins.

1. Bitcoin (BTC)

Market cap: Over $846 billion

Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain or a ledger, logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.

The current valuation of Bitcoin is constantly moving, all day, every day. It is a truly global asset. From a start of under one cent per coin, BTC has risen by thousands of percent to the above numbers. The prices of all cryptocurrencies are volatile, meaning that anyone’s understanding of how much Bitcoin will change by the minute. However, there are times when different countries and exchanges show different prices and understanding how much Bitcoin value will be a function of a person’s location. Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy a Bitcoin for about $500. As of March 1, 2022, a single Bitcoin’s price was over $44,000. That’s a growth of about 7,800%.

2. Ethereum (ETH)

Market cap: Over $361 billion

Ethereum is a favourite of program developers, both a cryptocurrency and a blockchain platform, because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs). Ethereum aims to create a decentralized suite of financial products that anyone in the world can freely access, regardless of nationality, ethnicity, or faith. This aspect makes the implications for those in some countries more compelling because those without state infrastructure and state identifications can get access to bank accounts, loans, insurance, or a variety of other financial products.

3. Tether (USDT)

Market cap: Over $79 billion

Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favoured by investors who are wary of the extreme volatility of other coins.

In 2014, Tether described itself as “a blockchain-enabled platform…to make it easier to use fiat currency digitally.” Effectively, this cryptocurrency allows individuals to utilize a blockchain network and related technologies to transact in traditional currencies while minimizing the volatility and complexity often associated with digital currencies.

4. Binance Coin (BNB)

Market cap: Over $68 billion

Binance Coin (BNB) is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange. It is the third-largest cryptocurrency by market capitalization. Those who use the token as a means of payment for the exchange can trade at a discount. Binance Coin’s blockchain is also the platform on which Binance’s decentralized exchange operates. The Binance Exchange was founded by Changpeng Zhao and is one of the most widely used exchanges in the world based on trading volumes.  

5. XRP (XRP)

Market cap: Over $37 billion

XRP is the native token for the XRP Ledger, created as a payment system by Ripple in 2012. The XRP Ledger uses a consensus mechanism called the XRP Ledger Consensus Protocol, which doesn’t use proof-of-work or proof-of-stake for consensus and validation. Instead, client applications sign and send transactions to the ledger servers. The servers then compare the transactions and conclude that the transactions are candidates for entry into the ledger.

6. Terra (LUNA)

Market cap: Over $34 billion

Terra is a blockchain payment platform for stablecoins that relies on balancing two types of cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the Terra platform and is used to mint more Terra stablecoins.

Terra stablecoins and Luna work according to supply and demand: When a stablecoin’s price rises above its tied currency’s value, users are incentivized to burn their Luna to create more of that Terra stablecoin. Likewise, when its value falls compared to its base currency, this encourages users to burn their Terra stablecoins to mint more Luna. As adoption of the Terra platforms grows, so does Luna’s value.

7. Cardano (ADA)

Market cap: Over $33 billion

Cardano (ADA) is an “Ouroboros proof-of-stake” cryptocurrency created with a research-based approach by engineers, mathematicians, and cryptography experts. The project was co-founded by Charles Hoskinson, one of the five initial founding members of Ethereum. After disagreeing with the direction that Ethereum was taking, he left and later helped to create Cardano.

The team behind Cardano created its blockchain through extensive experimentation and peer-reviewed research. The researchers behind the project have written more than 120 papers on blockchain technology across various topics, and this research is the backbone of Cardano.

Due to this rigorous process, Cardano stands out among its PoS peers and other prominent cryptocurrencies. Cardano has also been dubbed an “Ethereum killer” because its blockchain is said to be capable of more. That said, Cardano is still in its early stages. Though it has beaten Ethereum to the PoS consensus model, it still has a long way to go regarding DeFi applications. 

8. Solana (SOL)

Market cap: Over $33 billion

Last but not least, Solana, with an m-cap of over $20 billion, is yet another cryptocurrency that’s been making news recently for its unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. Solana was also launched in 2020 when it cost $0.77 and has grown by 9405% to trade at $73.19 currently.

With so many options available, it should be easier to decide which cryptocurrency appeals to you the most and start investing small chunks of money into it. As we’ve said, you can open a ZebPay account and start investing as soon as you complete the KYC formalities. You can even earn crypto by holding your favourite cryptocurrency with ZebPay Earn. Go on, and start your cryptocurrency journey today!

9. Polkadot (DOT)

Market Cap: Over $22 billion  

Polkadot was launched in 2020, and in just a year, its value has gone up from $2.93 to $25.61 – a 774% growth! Polkadot’s USP is that it’s trying to create a cryptocurrency network that connects the various blockchains to make them work together. Its m-cap is at over $22 billion currently.

10. Litecoin (LTC)

Market Cap: Over $9 billion 

Litecoin (LTC), an open-source blockchain project launched in 2011, was created by former crypto exchange Coinbase software engineer Charlie Lee. It was one of the initial cryptocurrencies whose code imitated Bitcoin. Even though it has similarities with Bitcoin, it is developed to have a faster transaction confirmation time. It can be used as an avenue for paying people worldwide without a mediator. LTC is frequently considered as “silver to Bitcoin’s gold.”

Litecoin has a total round-off supply of 84 million tokens. In May 2021, it recorded its lifetime high of $413.47, dropping by over 50%. There are a growing number of merchants that undertake Litecoin. It has a per token value of around $106, the 21st-largest cryptocurrency in the world. 

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