In this article, we will discuss the basic facts about the top 10 Cryptocurrency 2024 has to offer for investing. Read on to gather vital information about the rapidly growing cryptocurrencies to make the best out of your investment.
Bitcoin(BTC)
Market Cap: $880 billion
Current Rate: USD 40,294
Bitcoin (BTC) is the first cryptocurrency and was created in 2009 under the moniker Satoshi Nakamoto. It is decentralized digital money that functions independently of any central authority or government monitoring. Instead, cryptography and peer-to-peer software are used. All transactions involving bitcoin are recorded in a public ledger, which is duplicated on servers all around the world.
Ethereum(ETH)
Market Cap: $415 billion
Current Rate: USD 3,060
Ethereum is a decentralized blockchain tech meaning that participants can transact with one another without the need for a trusted central authority. It works by creating a peer-to-peer network to securely verify and execute smart contract code.
It is a blockchain platform as well as a cryptocurrency. it is a favorite among programmers because of its possible uses, such as smart contracts. These run automatically when conditions are satisfied.
Tether(USDT)
Market Cap: More than $79 billion
Current Rate: USD 1
Tether is a blockchain-based cryptocurrency with a US dollar backend. It’s a platform that debuted in 2014 with the goal of making it easier to digitally use fiat currency. This means that banking institutions have money on hand to utilize as collateral. For the same reason, it is a stablecoin. Stablecoins have a 1:1 relationship with the US currency when fully supported by the dollar.
Binance Coin(BNB)
Market Cap: More than $68 billion
Current Rate: USD 413.76
Binance coin or BNB is a cryptocurrency that is issued by the Binance exchange. This coin is based on the Ethereum network and uses the ERC 20 standard. There are a total of 200 million BNB tokens available. It’s not just the token for a prominent cryptocurrency exchange; it’s also programmable crypto, which means it’s the foundation for a lot of applications and new cryptocurrencies.
USD Coin
Market Cap: More than $53 billion
Current Rate: USD 0.9998
USD Coin or USDC is a fairly-new stablecoin backed by the US dollar. Circle and Coinbase teamed up to launch the service on September 26, 2018. USDC is a cryptocurrency similar to Tether that is backed by the US dollar (USDT).
Solana(SOL)
Market Cap: $44.5 billion
Current Rate: USD 101.21
Solana is a smart contract-enabled public blockchain platform. SOL is its native cryptocurrency. Solana claims to be faster and cheaper than Ethereum, which is one of its biggest competitors. Solana is a decentralized and scalable blockchain network.
XRP(XRP)
Market Cap: $40 billion
Current Rate: USD 0.7117
XRP was founded by some of the same individuals who founded Ripple, a payment processing and digital technology company. XRP can be used to ease the exchange of a variety of currencies, including major cryptocurrencies and fiat currencies as well.
Cardano(ADA)
Market Cap: $39 billion
Current Rate: USD 0.98
Cardano was founded by one of the co-founders of Ethereum. The aim was to create a more stable, balanced, and sustainable blockchain ecosystem. It is a blockchain
project with the goal of “creating a more balanced and sustainable ecosystem” for cryptocurrencies. ADA defines itself as the first third-generation cryptocurrency out there. ADA seeks to address the infrastructure and scale issues that plagued bitcoin.
Terra(LUNA)
Market Cap: $37.5 billion
Current Rate: USD 88.20
The LUNA coin is a cryptocurrency that is being used to minimize the volatility of the Terra blockchain’s stablecoins as a protocol token. It’s part of a two-token system with the terraUSD: The corresponding amount of LUNA must be burned to coin additional TerraUSD. This keeps the terraUSD price steady and provides LUNA its value.
Avalanche(AVAX)
Market Cap: $26 billion
Current Rate: USD 78.82
Avalanche is a proof-of-stake blockchain with smart contract capability that is decentralized and open source. AVAX is lightning quick, inexpensive, and environmentally friendly. By deploying on AVAX, any smart contract-enabled software may surpass the competition. On September 21, 2020, Avalanche became live on the main net.
Conclusion
Here we have provided a list of the top 10 cryptocurrency 2024 has to offer. You can read more about them on their websites before making an investment.