Cryptocurrencies are currently trading in the green, which is attracting investors. Since April 2021, when China imposed a strict ban on cryptocurrencies and crypto miners, the crypto market has seen a lot of turmoil. When Bitcoin fell to its all-time low price for the year, the episodes frightened the cryptocurrency market. In this article, we gonna talk about the top 10 cryptocurrencies to invest in.
According to the website Coindesk, Bitcoin has dropped to USD 5,600 on September 7. However, some of the major cryptocurrencies have bounced back. According to market data analysis, Ethereum has gone up significantly in the last three months. Ethereum has been the best-performing cryptocurrency over the last three months. In the last three months, Bitcoin has fallen down to USD 11,500, but it is still one of the largest cryptocurrency and the biggest asset class of the digital world. It is estimated that Bitcoin could fall by another 10 percent before it is able to achieve the magical USD 100,000 mark. Some of the major cryptocurrencies have bounced back and climbed back to their previous highs. Ethereum has climbed to USD 439, Ripple XRP has climbed to USD 2.
The cryptocurrency for Ethereum has been steadily declining since April. The price of Ether has dropped by $150 over the last three months, bringing it to $117.55. This means that the cryptocurrency’s price has lost over 60% in the last year. Despite the decline, the adoption rate of Ethereum is still quite high. Ether was overtaken by Bitcoin in terms of daily transactions in May 2017. Currently, Ethereum’s daily transaction value is $212 million, while Bitcoin’s is $5.3 billion. The high trading volume has increased the liquidity of Ether and has resulted in a decline in the price. The global investment in Ethereum and cryptocurrency is expected to reach $400 million by the end of 2018. This number is expected to rise to $8 billion in 2022.
Also called Ripple, Ripple is a digital currency that can be exchanged for other currencies such as US dollar or euro. This virtual currency was invented by former Yahoo! employee, Jed McCaleb, in 2012. Jed developed Ripple to make payments faster. XRP is popular with banks because it makes cross-border payments faster and cheaper, cutting out many middlemen and fees. Bitcoin Cash The digital currency Bitcoin Cash, also known as Bcash, was created in August 2017. It was based on Bitcoin but was spun off on a new blockchain called Bitcoin Cash, which had extra mining rewards for Bitcoin miners. It has since separated into two separate currencies — Bitcoin and Bitcoin Cash.
A development that has changed the decentralization of the web has the right to make it into the top 10 cryptocurrencies to invest in. Directly from the speed to the security, this digital currency has won the hearts of many.
The price of Dash went on a drop after the markets plunged at the beginning of February. Dash has come back to the mainstream when the exchange Binance added Dash to its list of supported cryptocurrencies in April 2018. Since April 2018, the price of Dash has seen an increase of 79.7 percent, making it one of the top-performing currencies. Litecoin Litecoin became a coin for the new blockchain technology users. The price of LTC came back to the USD$40 range in April 2018 after dropping to the USD$30 range in the first half of April. Since April 2018, Litecoin is up by 38 percent. Litecoin has also garnered a lot of popularity by competing with Bitcoin for being the best blockchain technology.
This coin was the most widely used cryptocurrency during the April–August period and is known to offer a higher transaction fee than Bitcoin. It had a steady price trend from June to August and gained over 20% of its value. However, the price fluctuated greatly in September with the market volatility. The currency is expected to grow by more than 55% in September 2019. Dogecoin, which started out with a $1 million market cap, saw its valuation reach $1 billion in September. It reached an all-time high of $0.0060 and is expected to rise above $0.01 by the end of the year. The currency saw a meteoric rise and even exceeded $0.01 in late November 2018. Currently, Dogecoin is trading at around $0.00006.
Monero is a privacy-oriented cryptocurrency that has one of the highest market caps. It was formed in 2014 and the market cap stood at $3.2 billion on July 18, 2018. At press time, Monero’s market cap is $4.9 billion. The currency is a peer-to-peer payments network based on the principles of anonymity. The demand for Monero is increasing due to the increasing concern over cryptocurrency transaction details. In addition, it is also becoming the payment currency of choice among illegal activities such as drug trafficking and money laundering. Dash With a market cap of $5.7 billion, Dash has reached the top 10 with a maximum market cap of $9 billion. Monero is one of the best-known cryptocurrencies with a unique decentralized hashing system and distribution mechanism.
One of the widely used decentralized application tokens, EOS (EOS) can also grow in value as more people become interested in it. EOS price has seen a lot of consolidation as well, but the latter is expected to climb a lot higher in the coming months. Futures and Other Cryptocurrency Contracts Futures contracts are those that allow traders to place bets on the price of an underlying asset. In September 2021, the futures market will be the biggest, given the number of exchanges across the globe. The regulated nature of the futures market will likely put pressure on the cryptocurrency market.
Section 8 Final comments, tips, and secrets about top 10 cryptocurrencies to invest
In the previous sections, we discussed the possibility of the price of Bitcoin dropping below the $1,000 mark and the effect of new Bitcoin regulation in China. Now, let’s see the TOP 10 cryptocurrencies that are expected to grow a lot in the next 12 months. 10. Ethereum (ETH) Last week, Ethereum started trading at $160. It has been trailing the price of Bitcoin for the last few weeks and is currently trading in the red. ETH is usually much more volatile than Bitcoin, which means there is a high chance that its price will go up again. If ETH doesn’t drop much from the current price, it could reach the $400-500 mark soon. 9. Ripple (XRP) Ripple is the second most valuable cryptocurrency in the world.