New Delhi: Cryptocurrency is the new trend and the whole world is going crypto-way. According to reports, a huge number of people have started to start investing in some cryptocurrencies this year and right now there are more than a thousand cryptocurrencies to make it a very difficult decision for the investor as to which currency should they pick.
To invest in a cryptocurrency one needs a source to buy the cryptocurrencies – either through cryptocurrency exchanges or other sources like PayPal. So, investors, we’re here to help you.
Analytics Insight has listed the top 10 most valuable cryptocurrencies based on their price in the market.
Here are the topmost valuable cryptocurrencies based on their price
Bitcoin is ‘the king of all cryptocurrencies, as it is the first of its kind with the highest liquidity value. This crypto coin aims to become a fully decentralized, global, peer-to-peer digital cash with no regulations. In a volatile crypto market, Bitcoin is the most stable one. The cryptocurrency has marked growth of 276% in the last year alone.
China has banned the mining of bitcoin owing to environmental concerns and its climate change goal. Bitcoin is also seeing a continuous decline after Weibo, a Chinese social media service blocked some crypto influencers’ accounts from its site.
Ethereum was the first crypto coin to introduce smart contracts that allowed developers to create desktop and mobile decentralized applications powered by blockchain technology. Ethereum has maintained its position in the top cryptocurrencies of all time ever since. That makes the chances of it being stable for a long time higher.
Bitcoin Cash, the spin-off or altcoin of Bitcoin is performing well in the market recently. Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as ‘peer-to-peer electronic cash.’ First developed in December 2017 as a result of a hard fork with Bitcoin to increase the number of transactions that could be processed, Bitcoin Cash was created to enhance Bitcoin’s ability. Even though Bitcoin and Bitcoin Cash works on the same technology, Bitcoin Cash has unique variations that make it stand out from the cryptocurrency crowd
Binance Coin, the cryptocurrency issued by Binance exchange, initially ran on the Ethereum blockchain and later evolved to become the native coin of the Binance chain. Even though the digital currency’s price continues to grind higher, it is struggling to break the US$433 mark. Unfortunately, Binance Coin also suffered the storm of Bitcoin and Elon break-up with the market sharply falling by over 15%. However, the cryptocurrency has recovered most of its losses recently and is maintaining stable growth.
Litecoin comes 2nd on our list because of its market capital and liquidity value. Litecoin is limited to 84 million coins with a block reward of 12.5 LTC, higher than other cryptos. Mining a Litecoin can be faster than any other cryptocurrency as the average time to mine a Litecoin is just 2 minutes. The growing popularity of Litecoins makes this the best of the rest in all the altcoins.
Dogecoin has stood strong even after not being taken seriously. First, Redditors spiked the price to new heights in early 2021 as a way to prevent the speculated short-selling of Dogecoins by many Wall Street hedge funds. And then, Elon Musk called himself the “Dogefather” promoting this cryptocurrency further. While many argue the legitimacy of this coin, Dogecoin continues to have its share of market value. In April 2021, Dogecoin hit its all-time high of $0.2917. After a steady growth further, Elon Musk’s SpaceX has now announced that it accepts Dogecoins as a mode of payment.