- A digital coin is created on its blockchain and acts similarly to traditional money.
- There are more than 10,000 estimated cryptocurrencies, and the number keeps increasing.
For many years, the cryptocurrency market has seen an upsurge with high growth potential. There are many fast-growing cryptocurrencies in the market nowadays. Below is a list of the top 10 cryptocurrencies that can get a boost in the coming years.
Why are There So Many Types of Cryptocurrency?
Blockchain is an open source. It means that any software developer can use the original source code, and yes, they can create something new with that. Any source code of one can be used to build another. Also, the number of cryptos surpassed 1,000 only four years ago.
You can also use the Ethereum network to create your own personal digital coins. You should also know that sometimes, forks in the software code can change crypto rules. And this is the way that can lead to the creation of a new crypto.
Many software developers got a cut of the action after seeing a surge in crypto prices. Many blockchain technologies have usefulness just beyond digital currencies. Also, the decentralised nature of the technology and the broad scope that can be applied in the software world can be the two reasons for having so many cryptos.
A Comprehensive List of Cryptocurrencies
- Bitcoin (CRYPTO: BTC)
- Ethereum (CRYPTO: ETH)
- Binance Coin (CRYPTO: BNB)
- Tether (CRYPTO: USDT)
- USD Coin (CRYPTO: USDC)
- Terra (CRYPTO: LUNA)
- XRP (CRYPTO: XRP)
- Solana (CRYPTO: SOL)
- Avalanche (CRYPTO: AVAX)
- Cardano (CRYPTO: ADA)
- Bitcoin (CRYPTO: BTC)- Price- $29,295
As a sign of the cryptocurrency era, Bitcoin is still what people refer to when discussing digital currency. Satoshi Nakamoto, the mysterious creator of Bitcoin, debuted the currency in 2009, and yes, since then, it has never looked back. Until 2017, however, it wasn’t as the cryptocurrency suddenly broke into popular consciousness.
- Ethereum (CRYPTO: ETH)- Price- $1,860
The name of the cryptocurrency platform, Ethereum, is eventually the first name that is the most recognised platform in the crypto space. The system always allows you to enter the currency, which can perform a number of functions. But, the smart contract aspect of Ethereum eventually helps to make it a popular currency.
- Binance Coin (CRYPTO: BNB)- Price- $233.77
This is the currency which is issued by Binance, which is among the largest crypto exchanges in the whole world. Initially, it created a token to pay for the discounted trades. Thus, Binance coins can now be used to make payments and purchase various goods and services.
- Tether (CRYPTO: USDT)- Price $1.00
$1 per coin is the anchored Tether’s price. And this is the reason Tether is called a stablecoin. If you don’t know, all the stablecoins are always tied to the value of a very specific asset, and the same in Tether’s case is the U.S. dollar.
- USD Coin (CRYPTO: USDC)- Price $1.00
USD Coin is also considered a stable coin like Tether. The founders of this currency eventually say that it’s backed by fully reserved assets or those with the ‘equivalent fair value’.
- Terra (CRYPTO: LUNA)- Price $0.0067
This is also an open-source blockchain payment platform. These currencies automatically track the price of currencies or some other assets. This blockchain eventually enables users to spend, save, and trade instantly.
- XRP (CRYPTO: XRP)- Price $0.7002
Created in the year 2012, XRP is known as a Ripple, and it offers a way to pay in many different real-world currencies. Ripple can also be useful in cross-border transactions.
This is the new cryptocurrency that was launched in the year 2020. It works at the speed of completing transactions and the overall strength of its ‘web-scale’ platform.
- Avalanche (CRYPTO: AVAX)- Price $12.70
It is also a blockchain platform with AVAX as its native currency. Also, transactions can daily be finalised in less than one second on Avalanche.
- Cardano (CRYPTO: ADA)- Price $0.3052
Behind ADA, Cardano is considered a cryptocurrency platform. The co-founder of Ethereum created Cardano, and it also used smart contracts, which enable identity management.
Conclusion
The cryptocurrency market has witnessed significant growth, leading to the creation of numerous cryptocurrencies, each with unique features and use cases. The top 10 cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin, hold great potential for future growth. However, investors should be aware of the risks and benefits associated with each cryptocurrency before making investment decisions.
