Although the leading crypto Bitcoin (BTC) was the first major cryptocurrency to be released in 2009, several other cryptocurrencies have emerged and become popular, albeit not as big. We’ve compiled a list of the most popular altcoin projects, their uses, and factors that could contribute to their rapid appreciation this year.
Leading crypto and leading altcoin rank first
Bitcoin (BTC)
There is a widespread belief that Bitcoin can be used as a shelter investment and is called ‘digital gold’. It has a long track record of consistent growth. This makes it a promising investment option. Bitcoin can be used for many online transactions and is accepted by many physical businesses. So far, it has proven to be the most popular cryptocurrency for purchasing physical and virtual goods and services.
Ethereum (ETH)
Ethereum is a distributed network where users can execute smart contracts. These are examples of programs that can run on the Ethereum network. Ethereum is home to many exciting decentralized applications (DApps) and decentralized finance (DeFi) projects that serve a different function than Bitcoin.
Don’t forget stablecoins
Tether (USDT)
Tether is not only a stablecoin, but also the largest stablecoin by market cap. Stablecoins do not fluctuate wildly. In the case of Tether, the value of the token is pegged to the dollar. USDT often acts as a bridge between different cryptocurrencies when trading.
USD Coin (USDC)
USD Coin, like Tether, is a stablecoin whose value is pegged to the US dollar and should remain relatively stable. The creators of the currency claim that the assets behind it are fully hidden or of ‘equal, fair value’ and stored in accounts at federally regulated US financial institutions.
Binance USD (BUSD)
Binance USD is another example of a stable cryptocurrency. It was developed by Binance and is pegged 1:1 to the US dollar. It is used to buy other cryptocurrencies on the Binance exchange and pay for Binance-related expenses.
Other altcoin projects on the list
Binance Coin (BNB)
BNB is the native token of Binance, one of the most popular marketplaces for buying, trading and transferring cryptocurrencies. BNB is used not only to pay fees on Binance, but also by various DeFi projects and other decentralized applications. These costs are usually less than a user would pay in another currency.
Ripple (XRP)
Developed by Ripple as a payment system in 2012, XRP Ledger uses XRP as its native token. XRP also functions as an investment digital asset and a bridge currency for cross-border transactions. XRP Ledger Consensus Protocol, the consensus process used by XRP Ledger. Also, it does not rely on PoW or PoS for reconciliation or verification.
Cardano (ADA)
Despite its late entry into the cryptocurrency industry, Cardano stands out as one of the first to use PoS verification. Cardano’s solution removes the competitive, problem-solving part of transaction verification seen in systems like Bitcoin, speeding up transaction time and reducing energy use and environmental impact.
Left (LEFT)
Thousands of transactions can be processed in a single second on Solana Blockchain. This makes it a very fast Blockchain technology. Anatoly Yakovenko, formerly Qualcomm’s Chief Technical Officer, developed Solana in 2017. The initial offering price of SOL was $0.77 in 2020. However, in the 2021 bull market, it rose to an all-time high of $260. On the other hand, cryptocoin.com As you follow, the crashing crypto exchange saw a dramatic drop due to its ties to FTX. The altcoin is currently trading around $22.
Dogecoin (DOGE)
The original meme coin, Dogecoin, gained a huge following and became a popular payment method for small transactions. It first formed as a joke when the Bitcoin price rose. The name comes from a Shiba Inu internet meme. Unlike many other digital currencies, Dogecoin has no cap on its supply. Users use it to shop or transfer money to friends and family.
The opinions in the article are definitely not investment advice. Before investing, we strongly recommend that you do your own research, considering the volatile nature of the cryptocurrency market.
