10 Most Popular Cryptocurrencies In 2022

Thousands of various types of crypto—currencies, most with little value and unclear potential exist in the today’s business world. As such most of the investors tend to stick to Bitcoin and Ethereum for better outcome.

Depicted below the top 10 Cryptocurrencies in the world in 2022 based on the market capitalization, or the total value of all of the coins currently in circulation.

 01) Bitcoin (BTC)                                     

Bitcoin remains the most widely traded and covered crypto currency in present business context. It was introduced to the world in 2008 by Satoshi Nakamoto through a white paper and made available to the public in 2009. As with most crypto-currencies, Bitcoins runs on a block chain and the related technology has made it secure and safe from frauds.

Market cap -Over £ 474bn

Bitcoin has become a household name as of today while its value has an upward trend. It is evidenced by the difference of the two purchase prices of Bitcoins in May 2016 and June 2022 which was £ 370 and £ 24,939 respectively.

02) Ethereum (ETH)

Ethereum is a popular crypto-currency which runs on a block chain platform and one of the favorites of programme developers due to its potential applications. Ethereum has shown a thriving trend during the period of April 2016 to June 2022 where the prices had been increased from   £8 to over £1,508.  

Market cap -Over £182 billion 

03) Tether (USDT)

Tether is known to be one of the most stable coins compared to some other forms of crypto-currencies. This is due to it is being backed by flat currencies such as Sterling Pounds, US Dollars and Euro. Tether has an equal value to those flat currencies hypothetically while in theory  this means Tether’s value is more consistent than other crypto-currencies. As such many investors prefer Tether to other  crypto-currency due to  high volatility of other coins.

Market cap: Over £57 billion

04) Binance Coin (BNB)

The Binance was launched in 2017 and is one of the largest crypto exchanges in the world today. It merely facilitates trade on Binance exchange platform and being used to trading, proceeding of payments and travel arrangements. Further it can be traded or exchanged for other form of cryptocurrency such as Bitcoin or Ethereum.

Market Cap: Over £40 billion

05) U.S. Dollar Coin (USDC)

This is also known to be a stable coin which is backed by U.S Dollars and aims to maintain 1 USD to1 USDC ratio. U.S Dollar Coin is powered by Ethereum and can be used to complete global transactions.

Market Cap: £42 billion

06) Cardano (ADA)

Cardano’s is similar to Ethereum in enabling smart contracts and decentralized applications which are powered by ADA, its native coin. It is known for its early embrace of proof-of-stake validation. This helps to expedite the transaction time and to reduce the energy consumption contributing favorably towards environmental aspects. The native coin of Cardano, ADA has had a relatively modest growth compared to other major crypto coins. From 2017 to 2022 the price has changed from 1.5P to 51p (approx.) respectively.

Market Cap: Over £17Bn

07) Solana (SOL)

Solana was launched in 2020 and is powered by its native token which is SOL. This is developed to facilitate decentralized finance, apps and also smart contracts. Solona uses a unique hybrid, proof of stake and proof of history which enables efficient and secured transactions. SOL’s price has increased from £0.57 to £43 by 6^th June 2022.

Market Cap: Over £11Bn

08) XRP

This has been created by some of the same founders as Ripple, a digital technology and payment processing company. XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major crypto currencies. It’s price has increased from £0.004 to  32p.

 Market Cap: Over £15Bn

09)  Dogecoin (DOGE)

Dogecoin was commenced in 2013 and reports a rapid evolution over the period. This currency is vulnerable to devaluation owing to the fact that there is no limit on the number of Dogecoins that can be created. The price of the same shows an increase from £0.00016 to 51p during the period of 2017 to June 2022.

Market Cap: Over £8Bn

                                                                     

10) Polkadot (DOT)

As crypto-currencies use number of block chains, Polkadot is focused on  integrating them by creating a crypto-currency network which connects  various block chains together.  ) Polkadot was launched in 2020. The price of this  crypto-currency has increased  from £2.15 to £7.86 between 2020-2022.

Market cap: Over £7Bn

 **Market caps and pricing –as of 6 June 2022

References

Tetrina, K. and Schmidt, J., 2022. Top 10 Cryptocurrencies In 2022. [online] forbes.com. Available at: <https://www.forbes.com/uk/advisor/investing/cryptocurrency/top-10-cryptocurrencies/> [Accessed 24 June 2022].

Haar, R., 2022. The 10 Most Popular Cryptocurrencies, and What You Should Know About Each Before You Invest. [online] time.com. Available at: <https://time.com/nextadvisor/investing/cryptocurrency/types-of-cryptocurrency/> [Accessed 24 June 2022].

FRANKENFIELD, J., 2022. What Is Cryptocurrency?. [online] www.investopedia.com. Available at: <https://www.investopedia.com/terms/c/cryptocurrency.asp> [Accessed 18 June 2022].