Cryptocurrencies are virtual assets that function on decentralized blockchain technology. Transactions made using this currency are encrypted ensuring the security of each financial exchange. There are over 19,000 existing Bit index Prime. However, only a handful of them has exhibited profitable potential.
The crypto market has recently seen an influx of investors making it a much sought-after investment venture. One of the reasons for its tremendous popularity has been the easy access to cryptocurrencies. Such accessibility ease and wonderful features would not have surfaced up if several apps and exchange platforms would not have stepped in to the scenario. One of the reliable apps for securing your trading opportunities is Bitcoin-era. software. Similar software give insightful inputs to traders to ensure that their investments are translated into profits.
Here you shall see the 9 top cryptocurrencies that have performed well and offered exciting options to their investors in terms of profit.
- Bitcoin (BTC)
Despite a sluggish start, Bitcoin’s value has surged to new heights in the last five years. From a mere $500 in 2016, it has zoomed to the current rate of about $23,000 which is a humongous growth of over 4,500%.
After a historic rise in the latter half of 2021, the Bitcoin rate as with other crypto coins is experiencing a slump this year but is expected to swing upward very soon. It had started its journey as an asset with no value, today it is priced at nearly $22,000 with a market cap of well over $400 billion.
- Ethereum (ETH)
Ethereum has firmly established itself as the second most profitable coin among cryptocurrencies. It is the most widely-used blockchain network besides being a cryptocurrency that allows users to access smart contracts and dApps.
Its upgraded version, the Merge, is expected to be introduced soon. The biggest positive impact it will have is that it will considerably reduce its energy consumption and shift its operation to a proof-of-stake-based consensus. The excitement among investors for the revamped version has lately seen a surge in ETH price by nearly 50%. It is currently priced at over $1,600 with a market cap of above $200 billion.
- Tether (USDT)
- All cryptocurrencies are impacted by severe volatility. This has made the stablecoin, USDT a favourite among investors as it is pegged to the fiat currency US dollar and it manages to keep an equal value to it. USD Coin (USD)
This stablecoin functions on the Ethereum blockchain and is used for global transactions. Its market cap is a touch shy of $ 55 billion.
- Binance Coin (BNB)
Binance is the world’s largest cryptocurrency exchange and its native coin is BNB. 2021 was a milestone year for this coin as it witnessed a massive leap in its fortune from about $38 at the beginning of the year to almost $685 by the middle of the year. Today it is used as a mode of payment and for trading. Its price is expected to reach the $300 mark and enjoys a market cap of $45 billion.
- Binance USD (BUSD)
BUSD is a stablecoin created by Binance that is regulated by the New York Department of Financial Services. With a value of almost $1 per coin, its market cap is worth over $17 billion.
- XRP (XRP)
It facilitates real-world trans-border financial transactions and is used on the Ripple network. Widely used for its speed and lower rates, it is a good cryptocurrency to invest in with a market cap of $17 billion.
- Cardano (ADA)
It is an eco-friendly coin with less energy usage. They are similar to Ethereum which enables users to deploy smart contracts and dApps besides enabling faster transactions. At a market cap of $17 billion, it has seen a rise of over 2,000% in its price in the last 5 years.
- Solana (SOL)
Despite being a newer coin, it efficiently powers smart contracts, dApps, and DeFi applications to enhance the speed of transactions and currently has a market cap of $14 billion.
Conclusion
With new coins in the system such as IBAT, APE, LBLOCK, and others that offer better options, investors need to decide whether they want to invest in established coins or go for more advanced technologies. However, in each case an understanding of the market is essential to ensure profitability.
