Cryptocurrencies may have started as an investment Wild West, but they are now firmly entrenched in the mainstream of finance.
The best performing cryptocurrencies in 2022 have allowed crypto investors to beat the market rate of return many times over for other assets – like stocks and commodities. The cryptocurrency market may have started out as an investment Wild West dominated by mavericks, but it’s now firmly entrenched in the mainstream of finance. Today we are going to talk about the most traded cryptocurrencies. Bitcoin grabs the headlines when people talk about cryptocurrencies, but there are literally thousands of other options when it comes to these digital currencies. This article presents the 10 most traded cryptocurrencies in the first quarter of 2022.
The price of Tether is pegged at US$1 per coin. This is because it is called a stablecoin. Stablecoins are tied to the value of a specific asset, in the case of Tether, the US dollar. Tether often acts as a medium when traders switch from one cryptocurrency to another. Rather than going back to dollars, they are using Tether. Many crypto investors prefer Tether over other cryptocurrencies because of its stability.
There is absolutely no surprise that Bitcoin still reigns as the most popular cryptocurrency in the world. If Bitcoin was a company, it would be bigger than Meta Platforms (formerly known as Facebook) and Tesla. Bitcoin continues to enjoy the advantage of being the premier cryptocurrency. It is more widely accepted than any other digital coin, mainly because it has been around longer.
Ethereum, commonly referred to as ether, is the second largest cryptocurrency in the world behind bitcoin, even surpassing bitcoin recently in terms of price gains, CoinTelegraph reported. Last year, Ethereum implemented a major upgrade that included reducing the Ether supply, currently at 120.33 billion coins.
Binance USD (BUSD) is a 1:1 USD-backed stablecoin issued by Binance (in partnership with Paxos), approved and regulated by the New York State Department of Financial Services (NYDFS). The BUSD monthly audit report can be viewed on the official website. Launched on September 5, 2019, BUSD aims to merge the stability of the dollar with blockchain technology. It is a digital fiat currency, issued as ERC-20 and supports BEP-2.
Whether Bitcoin Cash is a good investment also depends on how you expect the cryptocurrency to perform in the future. Although seen more as a medium of exchange, Bitcoin Cash could be considered a good bet if you think its scalability and faster processing will lead to widespread adoption. It is also one of the most traded cryptocurrencies in the first quarter of 2022.
USD Coin (USDC) is a new stablecoin pegged to the US dollar. It was released on September 26, 2018, following a partnership between Circle and Coinbase. USDC is a USD-backed cryptocurrency that competes with Tether (USDT) and TrueUSD (TUSD). USD Coin, in a nutshell, is a service that tokenizes US dollars and allows them to be used on the internet and public blockchains.
Many crypto experts find Terra (LUNA) to be a very attractive cryptocurrency because Terra (LUNA) has great potential and ambition as a medium of exchange and payment. Another reason, Terra (LUNA) entered the top 10 major cryptocurrencies by market capitalization. It is also one of the most searched cryptocurrencies in 2022.
Waves is a versatile blockchain platform that supports various use cases, including decentralized applications (DApps) and smart contracts. Launched in June 2016 following one of the cryptocurrency industry’s first initial coin offerings (ICOs), Waves initially set out to improve early blockchain platforms by increasing the speed , utility and usability.
Solana is basically the most popular cryptocurrency. The Solana network focuses on fast transactions and high throughput. Solana works on a unique mechanism that contributes to the speed of transactions. Solana is known as one of the competitors of Ethereum with the ability to process over 50,000 transactions per second.
Binance Coin is the most popular exchange token in the world. The asset was launched by Binance – the world’s largest cryptocurrency exchange and one of the most popular names in crypto. So why is BNB among the best cryptos for day trading? First, the asset links with Binance, the largest crypto exchange in the world, Binance is always in the news. This means that updates with the exchange will definitely affect the price of BNB.
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