The total market capitalization of the digital currency Bitcoin has reached over $150 billion, making it the first real-world currency to break the $100 billion mark. Here are the top digital coins that dominate the crypto market
Launched in 2008 & this fiat currency is every investor’s favorite investment. This fiat currency dominates the crypto market with $671.2 billion of the total market share. Even though the huge downside after the tweet of Elon musk on Bitcoin is putting the digital coin on its backside in the short-term, the future looks good. Big new enterprises are starting to recognize its potential and consumer adoption will likely rise. Digital coins are still in the early stage, but there is no doubt that these are going to be the future of transactions. So, if you are planning to trade or mine Bitcoin, then you may visit the bitcoin circuit official trading site.
Ethereum is next in line with $110.7 billion in market cap. Investors after bitcoin trust this currency even more & its market size proves the same. Ethereum has the largest developer community by a wide margin — about 57,000 in December. As long as Ethereum remains the number-one choice for developers and investors, it will have a long runway ahead of it. We also believe it will play a key role in the future of blockchain technology, or distributed ledger. Even though the digital coin is under a bit of pressure, there is no doubt that the ETH is their second-best cryptocurrency. However, we believe ETH is still a great buy.
The next favorite digital coin among crypto investors is Tether. Tether is a stable coin issued by a non-profit and does not have a physical or liability backing its value. Tether was one of the first assets to emerge in the crypto space, and it has steadily maintained its popularity. It’s no surprise that it has seen a price rise since the beginning of 2018, but we’re now seeing a possible price decline. One of the added advantages of using this crypto is that it doesn’t have to rely on mining or a third party to maintain its value. It can be exchanged directly for U.S. dollars on almost any exchange in the world.
4. Cardano (ADA)
Ripple’s closest competitor in the blockchain space, Cardano (ADA) — which was originally developed at the University of Edinburgh — has already launched an exchange and is working on a decentralized asset exchange called the Cardano Exchange. Fiat currencies like bitcoin are backed by blockchain technology. It keeps a record of every transaction across the blockchain. A blockchain is a shared, decentralized ledger that prevents anyone from altering or taking the records for themselves. Cryptocurrencies are like cash and central banks are like banks. The blockchain system works similarly to the banking system except there are no banks involved. Cardano is an “elegant, privacy-focused smart contract platform for developers and businesses,” according to Fortune.
5 BinanceCoin (BNB)
A rival cryptocurrency to Ethereum. Binance Coin (BNB) is backed by 4,000,000 Binance tokens, which is why the coin was the most successful initial coin offering (ICO) of the year. The coin officially launched on Dec. 19. This digital coin is going up 20% every year, which means healthy profits earned for the investors. Diversify your portfolio by adding BNB digital coins into your crypto investment. BNB is actively used by traders and investors to buy things online which is why this digital coin is popular & scarcer therefore more valuable.