TOP 10 CRYPTOCURRENCY BY MARKET CAPITAL
As we see now Cryptocurrency sector is expanding rapidly. There is great volatility of Cryptocurrencies exchange rates. Few or most people are familiar with Cryptocurrency but many people know anything beyond the basics. So we all need attention on Cryptocurrency and the top 10 Cryptocurrency by market capitalization.
- What is CryptoCurrency?
- What are the best top 10 Cryptocurrency by market capital?
- Binance Coin
- USD Coin
WHAT IS CRYPTOCURRENCY?
CryptoCurrency,It does not exist in physical form like paper money and is not issued by a central authority. Cryptocurrencies use decentralized control as opposed to digital base money. Cryptocurrencies are used to buy goods and services using only an online ledger with strong Cryptography which secures online transactions.
WHAT ARE THE BEST TOP 10 CRYPTOCURRENCY BY MARKET CAPITAL?
If you want to invest in Cryptocurrencies or expand your already existing Crypto portfolio, here are the best 10 Cryptocurrencies to look out for in 2021
As the first largest Cryptocurrency, Bitcoin record it transaction on a decentralized blockchain network. Bitcoin was launched in 2008. It is the first digital coin in the market and influences the crypto movements in terms of volume, size, value, and market cap. Bitcoin runs on a blockchain network that behaves as a ledger to log transactions. To make the Bitcoin transactions safe and secure from hackers they use a proof of work system, which checks all logged transactions by decoding a cryptographic puzzle. As of 2017, the Bitcoin price is the US $ 20000. In July 2021 the Bitcoin price is dealing for the US $37,973.06 and Market capital is $712,682,699,367.
The second-largest cryptocurrency by market capitalization. Ethereum is an open-source blockchain with smart contracts functionality and decentralized too. Ethereum was launched in July 2015. It is used to create and share financial services, business, entertainment applications, distributed applications (dapps). These can be used without the risks of fraud, downtime, interference from a third party. Ether or ETH is Ethereum’s own Cryptocurrency. Ethereum is described as the “World’s Programmable blockchain”. As of 2017, the Ethereum price is the US $719.83. But now in July 2021, Ethereum’s price is the US $2,278.07 and Market capital is $266,219,196,695.
Tether is the third biggest Cryptocurrency by market value. Tether was launched in July 2014. Like Bitcoin, Tether is a Cryptocurrency, but it’s quite very different from bitcoin and other virtual currencies. Tether was designed to Peg to the dollar. While other Cryptocurrencies often rise and fall irregularly in number or amount but Tether’s price is usually equivalent to $1. That’s why always Tether is known as a stable coin. Often crypto traders use Tether to buy Cryptocurrencies, as an alternative to the greenback. As of now in July 2021, Tether’s price is US $1.01 and Market capitalization is $62,407,285,483.
Binance is one of the largest Cryptocurrency exchanges in the world. It is the fourth largest Cryptocurrency in market capitalization. Binance coin was launched in July 2017. Binance Cryptocurrency is used for trade and pay fees on the Binance Cryptocurrency exchange. Binance coin users get a discount in transaction fees on the Binance exchange as an initiative. Bitcoin can be used for trading, transaction fees, credit card payments, payment process, booking travel areas, entertainment, investment and loan, and random. As of now in July 2021, the Binance coin price is US $315 and the Market capitalization is $48,734,932,778.
Cardano is a blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. Its aim is to be a decentralized application (DApp) development platform with a multi-asset ledger and verifiable smart contracts. Cardano was launched in 2017. The primary Cryptocurrency of Cardano is called “ada”. Cardano has five stages: Foundation, Decentralization, Smart contracts, Scaling, and Governance. As of now in July 2021, Cardano’s price is the US $1.29 and Market capitalization is $41,543,280,043.
Ripple acts as both a Cryptocurrency and a digital network for financial transactions. It has a unique technology behind its network. The name of the company and network is Ripple, its role is a money transfer network to serve the needs of financial industries and Cryptocurrency token is XRP its role to work on a Ripple network. In May 2011 XRP was issued. XRP technology is mainly for digital payment networks and protocols. XRP transactions are low cost and transactions are confirmed in seconds. XRP payment system is mainly used in major banks. As of now in July 2021, the XRP price is US $0.642294 and the Market capitalization is $29,715,901,260.
Dogecoin was created by two software engineers Billy Markus and Jackson palmer. As a joke they decided to create a payment system, making fun of the wild speculation in cryptocurrencies at the time. Dogecoin is an open-source peer-to-peer digital currency. Dogecoin which started as a joke has gained celebrity support like Elon Musk, Snoop Dog, rock musician Gene Simmon is driving up the price. Elon Musk made Dogecoin the first cryptocurrency to be accepted by Tesla. As of now in July 2021, Dogecoin’s price is US $0.204267 and Market capital is $26,674,065,996.
USD coin is referred to as stable coin. USD defines itself as “ the world’s digital dollar” coin is tied to the US dollar which makes its price more stable than other Cryptocurrencies. On Coin base, eligible customers can earn rewards for every USD Coin they hold. Each USDC is backed by one US dollar, which is held in a bank account. USD Coin is designed to let dollars move globally from your crypto wallet to other exchanges, businesses, and people. As now in July 2021, USD coin price is US $1.00 and Market capital is $27,323,997,690.
Palkadot’s mission is to connect all the blockchains to exchange information and transportations with one another. Founded by Gavin Wood, co-founder and former CTO of Ethereum, the genesis block of Polkadot was launched in May 2020. Palkadot has gained over 630% since its launch. It has a fast-growing pool of developers. Polkadot has quickly become one of the well-known cryptocurrencies, especially since 2020. Moreover, it is also viewed as a promising blockchain that can take over Ether’s dominance in 2021. As now in July 2021, Palkadot price is US $14.19 and its Market capitalization is $14,381,280,591.
Uniswap is a decentralized finance protocol that’s used to exchange Cryptocurrencies. The uni swap platform was built in 2018 on top of the Ethereum blockchain. Uniswap is open source so anyone can copy the code to create their decentralized exchanges. Uniswap works on two smart contracts – an “Exchange” contract and a “Factor” contract. The factor smart contract is used to add new tokens to the platform and the exchange contract is to facilitate all token swaps or “trades”. As of now in July 2021, Uniswap price is the US $18.95 and its market capitalization is $26,674,065,996.
Cryptocurrency is a digital currency that uses encryption to generate money and to verify transactions. It has various advantages like secure, trustful and transparent digital currency, it removes the need for a third party in exchanges. People are just beginning to become more aware of it. In order for Cryptocurrency to succeed, more people need to understand what is Cryptocurrency.
“Start The Day With Coffee end the day with CryptoCurrency” -Satoshi Nakamoto