The crypto market has come a long way since the trendsetter, Bitcoin, reached the charts and marked the dawn of a new era for money and fintech. It has become the staple cryptocurrency, which justifies why the two terms are used interchangeably and mistakenly.
Bitcoin isn’t the only crypto you can invest in, even if you’re bound to hear about it more often than any of its counterparts and are advised to check the BTC price chart before examining any other cryptocurrency to smarten your move. More digital coins have proved reliable and resilient during economic downturns, enriching investors who bought them at dip prices and stuck to them through the bear markets.
The cryptocurrency market lately has improved and seen prices grow astronomically if you look at Bitcoin and Ethereum. To help you make better-informed decisions, if you feel like now’s the point to add them to your portfolio, we’re providing a hand-picked list of the top-performing cryptocurrencies at the moment, so keep an eye on them!
BTC (Bitcoin)
Since the first cryptocurrency broke into the market, namely Bitcoin, a wave of other imitations has followed in its footsteps and offered tech and investment enthusiasts new routes to expand and diversify their portfolios. Bitcoin, whose price was close to nothing in its inception days, remains the strongest player on the crypto stage, and its most recent surprisingly good performance stands as proof.
Ethereum, BNB, and other crypto coins you’ll further come to acknowledge had their gains, but none came as close as Bitcoin did to an over 50% return on investment for orders sent during the past three months. Bitcoin, intending to serve as a mere exchange unit and store of value, became an asset that even the most skeptical institutions and strong deniers are now considering.
With a market cap of around $726,780 at the moment of writing, Bitcoin has become a speculative investment that allows for incredible gains but at the cost of high risks, too. It is currently trading above its psychological $3,500 limit, having surpassed the price of $3,700, and crypto pundits back up the scenario of a potential tag of $50,000 being achieved in the following months.
Despite being the most prominent cryptocurrency, it still involves a certain level of risk. Before you decide how much BTC you should accommodate into your portfolio, make sure you’ve considered the hazards you are exposed to and don’t invest an amount that would leave you bankrupt if the odds are not in your favor.
ETH (Ethereum)
Ethereum, the second-largest cryptocurrency to date and the only one considered a genuine threat to Bitcoin’s omnipotence, has also broken a critical level in the past few days. The surge above the $ 2,000 mark relighted hope for those who didn’t ditch it when the market went down, even if it is far from achieving the same potent performances as its rival.
Ethereum has a market cap of over $244,900 at the moment of writing, which is considerably lower than its precedent. However, investors are confident that Ethereum won’t lose its second spot in the rankings, primarily when scenarios such as “flippening,” or the point where Ethereum overtakes Bitcoin, are well-known and debated in the industry.
Ethereum took Bitcoin’s technology and gave it new meanings by enabling plenty more use cases, such as working as a platform for P2P transactions or allowing the developers to create and run apps which third parties have no control over. The apps are also known as decentralized apps and are powered by ETH, the blockchain’s native cryptocurrency. Ethereum comes with its programming language, Solidity, which interested developers can learn through numerous routes.
The heightened ease of access fortifies its standing as a key player in the fintech realm, guaranteeing that its technological capabilities will be further delved into to benefit more and more businesses and organizations.
BNB (Binance Coin)
Binance Coin, or BNB as you can see it being traded on crypto exchanges, is the fourth cryptocurrency of the month at the moment of writing, but the tables can be quickly turned around. It has impressed crypto pundits by performing in green for the past few days and trading at about $252.00 with a daily trading volume of $985,907,786.
It has risen from around $210.00 by the middle of October and gained about $40 ever since, reaching a circulation supply of around 151.70M.
BNB serves as a cryptocurrency exchange that allows crypto enthusiasts to make fee payments or engage in trades on its affiliated platform. Since 2018, it has held its position as the foremost platform, handling over 1.4 million transactions per second. The token stands out from the crowd in this respect, as users can gain a discount for employing it on the mother platform.
Numerous cases have been given to BNB since its creation in July 2017, such as serving as a payment means for customers, a booking method for flights and hotels, a tool for investments such as ETFs or stocks, and even collateral for loans embraced by a few platforms.
USDT (Tether)
The biggest stablecoin, with a market capitalization of around $87,590 at the moment of writing, has strengthened its position in the crypto market thanks to its stability, as its class name suggests. A stablecoin transaction is faster compared to Bitcoin, but it doesn’t generate the same high returns given the lower volatility witnessed.
The purpose of USDT, like any other stablecoin, was to diminish the price volatility and position them as more reliable and stable assets, making them more suitable as stores of value or transaction means. USDT’s value is pegged to the U.S. dollar as a reference asset, meaning they maintain and change value in synchronicity with the former. Other stablecoins are linked to commodities like gold or assets like the euro, so if you feel more confident in these two categories, you don’t have to feel confined to USDT. However, to date, it has stood out as the main stablecoin and challenged the position of other cryptocurrencies in the performance charts numerous times.
Currently, as of writing, its price fluctuates around one dollar, and the 24-hour trading volume is around $52,770, with a circulating supply of 87.43B. Its valuation is a little under its all-time high of $1.32, registered in July 2018, which is a month that seems favorable for the asset. In the seventh month of this year, USDT represented the third-largest crypto, with a token price of $1 and a market cap of around $83.8 billion.
Bitcoin remains the most popular digital coin, but many other alternatives have proved valuable. These are some of the cryptocurrencies considered and proven to be the most reliable, so let us know which one inflicts you the most confidence.
