The Top 25 Cryptocurrencies in the Market
In investment, the trend is your friend — until it isn’t. Last year, this was true for digital currencies, and it could very well be valid for the top cryptocurrencies of 2022. Many different cryptocurrencies, ranging from Dogecoin to Ethereum and Tether, make it challenging to get started in the crypto world. To help you get started, here are the best 25 cryptocurrencies ranked by capitalization, the total value of all coins currently on the market.
Top 25 Crypto Coins
The Ethereum blockchain’s cryptocurrency, Ether, is a more technologically advanced Bitcoin counterpart. Ethereum is based on a series of contracts rather than holding itself as “digital gold.” That puts it closer to Google Wallet or Apple Pay in terms of being a system that can approve or delay transactions depending on real-world occurrences. For example, online sellers and buyers could set up trades that are only completed if the postal service independently verifies the delivery of items.
Most cryptocurrency investors will want to preserve a portion of their holdings in Bitcoin, as seen by the past month’s performance. Although no one should consider digital assets safe-haven investments, BTC is the closest thing to a blue-chip cryptocurrency available, as proven by its success through difficult times. Bitcoin’s market dominance has expanded from 42% to 43.1% during the last month, while more volatile and unproven coins have lost much of their shine.
Monero is one of the most widely used “privacy coins” today. Even if a user’s address is publicly known, the network on which it functions fundamentally covers information like the amount in crypto wallets or the type of transactions a user has been doing on the blockchain. Monero and other privacy coins are gaining traction as payment companies like PayPal Holdings, Inc. support their use. Hedge fund sentiment around PayPal Holdings, Inc. demonstrates the relevance of this support.
Litecoin is based on an open-source worldwide payment network that is not centralized and uses the script as a PoW, which can be deciphered using consumer-grade central processing units (CPUs). An increasing number of retailers accept Litecoin. Litecoin has a market capitalization of $9.3 billion and a per-unit value of roughly $135 as of January 2022, making it the world’s 21st largest cryptocurrency.
Only a handful of new altcoins can reach the heights of Ethereum and Bitcoin, while the amount of new altcoins continues to rise. Cardano is one such potential cryptocurrency. ADA has gained almost 6,000 percent since its all-time low of $0.001735 and is currently trading for $1.07 in Q1 2022.
Tether is supported by fiat currencies such as the Euro and US dollar and has a value equal to any of those denominations. Tether’s value is more consistent than other cryptocurrencies, which is why it’s appreciated by investors who are afraid of other coins’ volatility.
XRP is the cryptocurrency world’s odd duckling. XRP is a centralized currency created by Ripple Labs mined, maintained, and governed by Ripple Labs (instead of a broad-based community). On the one side, this provides the coin with Visa and other centralized payment processor perks. These abilities include negotiating with massive institutions, quickly executing trades, and maintaining policy control.
While Ethereum is the current leader, with a market value of more than $360 billion, Solana is a top-10 cryptocurrency in its own right, with a market capitalization of $32 billion. More importantly, its network costs are now significantly lower than Ethereum’s, so the longer Ethereum 2.0 takes to launch, the more time SOL has to close the gap.
The Chainlink network’s cryptocurrency is called Chainlink. The Chainlink network seeks to simplify intelligent contracts by providing businesses with high-quality and trustworthy data feeds to utilize that data to establish contracts worth billions of dollars. These feeds can include everything from financial market data to weather reports and sports scores.
10. Polkadot (DOT)
Polkadot (DOT) is a one-of-a-kind Proof-of-Stake cryptocurrency that integrates other blockchains. Its protocol connects permissionless and permissioned blockchains and oracles, allowing systems to collaborate under one roof. Polkadot’s fundamental component is its relay chain, which allows different networks to communicate. Parachains, or parallel blockchains with their native tokens, are also possible for specialized use cases.
11. Binance coin
It is a cryptocurrency that can pay fees and trade on Binance. This coin has grown beyond conducting deals on Binance’s exchange platform since 2017. It can now be used for transaction processing, marketing, and even booking reservations. It can also be traded or exchanged for another cryptocurrency like Bitcoin or Ethereum.
12. Shiba Inu
Shiba Inu rose to prominence in 2021 due to some of the most significant increases ever observed in the cryptocurrency market. In fact, since its inception in August 2020, this popular cryptocurrency has blossomed into a multi-billion dollar top-20 digital asset by market capitalization. The SHIB price is now $0.00002, which means that a $50 investment will acquire you nearly 2.5 million tokens. As a result, Shiba Inu is not only one of the most significant crypto assets on the market but also one of the most affordable.
13. Seesaw protocol
Seesaw Protocol is a cryptocurrency that connects several blockchains or ecosystems, allowing holders to transmit and receive value. Additionally, by utilizing the most efficient blockchain at the ideal time to identify the fastest and cheapest transaction, Seesaw Protocol can deliver more economical and quicker transactions to holders.
14. Stellar (XLM)
The year 2021 is shaping up to be Stellar’s. Stellar stunned analysts and investors alike by rocketing 200 percent in the first week of January after underperforming bitcoin in 2020. Stellar’s success is mainly due to XRP’s misfortunes; like XRP, it was created to allow cross-border transactions. Stellar has rapidly stepped in to fill the hole left by rival XRP’s regulatory difficulties.
15. FTX token
With a focus on institutional trading and cryptocurrency derivatives, FTX is one of the world’s major crypto exchanges. The company provides options, swaps, and futures on some of the most popular cryptocurrencies while charging low, competitive costs. The platform’s currency, the FTX token, has seen spectacular growth in recent years as retail and institutional interest in digital assets has skyrocketed. Since 2020, the token has risen more than 2,000 percent, from $2.14 to more than $47 today.
In terms of speed, Ripple is the most well-known cryptocurrency. The currency’s creators created the Ripple network to send money around the world quickly and securely. For transfers, they employ the RTXP protocol. Ripple is one of the few cryptocurrencies explicitly designed for banks and large financial organizations.
Dogecoin (DOGE) was a meme coin, which caused speculations in 2021 when its price increased. The coin, which has a Shiba Inuis accepted as a means of payment by several prominent businesses, including the Kronos, Dallas Mavericks, and—perhaps most notably—SpaceX, Elon Musk’s aerospace company. During the week when Musk was due to attend a show, the value of DOGE reached around 0.74 cents. Dogecoin has a market capitalization of $21.7 billion as of February 2022.
18. Terra (Luna)
Terra-backed stable coins and TerraUSD are linked to the cost of actual currencies. Luna, their counterbalance, is used to manufacture new Terra stable coins and power the Terra platform. Terra stable coins and Luna function together based on demand and supply: when the value of a stable coin increases above its corresponding currency, investors are encouraged to burn their Luna to generate more of that Terra stable coin.
Decentraland is one of the best cryptocurrencies to invest in 2022. Through its MetaVerse-like gaming platform, this project provides a 3D virtual environment. Users can create characters and chat with other gamers, and they can also buy land and construct real estate.
Several Decentraland real estate holdings, have sold for over $1 million on the free market. Of course, Decentraland has its cryptocurrency token, known as MANA. Nearly the last year, the value of this cryptocurrency has surged by over 1,400%.
Don’t be deceived by NEO’s snooze-worthy 2020 returns. NEO (previously Antshares) is one of China’s first and most successful cryptocurrency projects. As the Chinese started cracking down on cryptocurrency exchanges in 2018, the coin’s value dropped. However, in 2021, the currency experienced a surprising comeback when Chinese regulators targeted Ant Group, a payment processor.
21. Avalanche (AVA)
Since the beginning of 2021, Avalanche has risen over 2,700 percent, from the low-$3 level to a price of $90. Every day that the much-anticipated Ethereum 2.0 network remains unreleased is a triumph for Ethereum opponents like Avalanche and Solana. AVAX is a top-10 cryptocurrency by market capitalization, having a total value of almost $22 billion.
ZCash was created in 2016 by scientists who intended to build a cryptocurrency comparable to Bitcoin but had a few more characteristics. They made a fork of the Bitcoin blockchain with improved security and anonymity. ZCash was created to be fast, secure, and anonymous. ZCash’s creators also advocate for adhering to regulatory standards. Additionally, when using ZCash, you can choose full transparency, in which case its transparency is similar to that of Bitcoin when transactions are made.
VeChain is a distributed technology platform that aims to refine and improve supply business processes and chain management. VeChainThor Energy (VET) and VeChain Token (VET) are two different tokens on the Vechain network (VTHO). The latter is used to transport currency over the VeChain network, while the latter is used to power intelligent contract transactions as “gas” or energy.
Dash was formerly known as Xcoin when it was launched in 2014. In March 2015, it was relaunched as Dash after being rebranded as Darkcoin. While it still has excellent encryption features, its goals have changed since then. Dash aspires to be a daily transactional medium as a digital currency that may be used like cash, a credit card, or PayPal. Dash is a decentralized payment network that is part of an open-source project.
EOS is a decentralized blockchain-based platform for developing, hosting, and running business applications or dApps. EOS was established in June 2018 following an initial coin offering (ICO) that garnered $4.1 billion in cryptocurrency for Block.one, the company created the open-source software known as EOS.IO, which is used on the platform. On the network, EOS cryptocurrency tokens are employed as a payment system.