Top 5 Cryptocurrencies to Keep an Eye on

Unless you've been living on a desert island for the last decade, you'll have seen the meteoric price rise of many cryptocurrencies. Perhaps you've even invested in some more well-established names such as Bitcoin or Ethereum.

The explosive price growth has attracted more significant numbers of new coins aiming for similar rises. There are dozens of cryptocurrencies released every week, and there are now around 9,800 coins to choose from. It has become progressively more challenging for new and even seasoned crypto investors to decipher where they should put their money.

Bitcoin (BTC)

Bitcoin, the king of cryptocurrency, is not only the first but also the most traded and valuable crypto in the world today. This crypto also benefits from the largest market cap of above $860 billion, ensuring investors' liquidity. There are also more practical reasons for investing in Bitcoin; Demand for this cryptocurrency comes from the many businesses that now accept Bitcoin as payment.

Ethereum (ETH)

Ethereum came into existence in 2015 only but and since then, it has seen massive gains due to its unique technology. Although it tends to play a support role to Bitcoin, it is far ahead of its competitors. It is one of the most discussed cryptocurrency projects globally, and big business names like Microsoft, J.P. Morgan, Chase, Intel, etc., are building software that can drive Ethereum.

Solana (SOL)

Solana is one of the top competitors of Ethereum. In 2021, it started at as low as $1, and now, it is trading at $100. Solana is also the fourth most prominent and promising cryptocurrency having a market cap of $54 billion. It has millions of dollars locked in its blockchain, and thus it is a vast blockchain for decentralized finance. It is also synonymous with its high transaction speed of 65,000tps, smart contracts, and Dapps.

Cardano (ADA)

Cardano is again a good crypto investment as it has 6th rank with a market cap of $51 billion. In comparison to Bitcoin, its small footprint attracts a lot of investors as less energy is needed to complete a transaction in Cardano, meaning it is fast and cheap. In 2021, Cardano introduced an upgrade named “hard fork” that enabled smart contract deployment in it and thus enhanced its functionality.

Though many altcoins enter the market every day, only a few have real potential; Cardano is one such promising platform. The price has continued to grow since its launch, rising from $0.0017 to the current trading rate of $1.07 (as of the first quarter of 2022). The ADA-USD is superior and more energy efficient in facilitating Defi transactions and smart contracts. So, if you want to invest in crypto, which does not have an excessive price, this digital token is a good choice.

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