For people who are just starting with cryptocurrency, the process can be quite overwhelming with the trading restrictions of each coin. From Bitcoin to Ethereum to Dogecoin to Cardano, there are countless currencies in the market, and it’s impossible to keep a check on all of them. To make a profitable investment in cryptocurrency, it is crucial to have the knowledge of the coin value and the market capitalization of the popular currencies. Let’s narrow down a few of the currencies for you which can be profitable for investments based on their market capitalization.
- Bitcoin (BTC)
Bitcoin is the most widely used currency in the cryptomarket. Created in 2009, Bitcoin is the most popular currency among crypto investors with the price of over $46,000, and the market capitalization of over $882 billion. The coin’s value grew about 9,200% since 2016, where the price of a single Bitcoin was $500.
- Ethereum (ETH)
With the market capitalization of over $447 billion, Ethereum is the next popular currency after Bitcoin. Both a currency and a blockchain platform, Ethereum’s value has also increased tremendously, with its price going from $11 in 2016 to $3,700 in 2022. The growth rate of Ethereum is 33,500%.
- Binance Coin (BNB)
A coin used to trade on Binance, Binance coin comes third on the list of popular coins. With its market capitalization of over $86 billion, Binance coin is used for trading, payment processing, and exchanging with other cryptocurrencies. In 2017, the price of Binance coin was just $0.10. In January 2022, its value rose up to $520.
- Tether (USDT)
What makes Tether coin different from the other currencies is that it is a stablecoin, and keeps a consistent value, most commonly equal to U.S. dollars or Euros. With a market capitalization of over $78 billion, Tether is preferred by the investors who do not find the variation of other coin values favorable.
- Cardano (ADA)
With a market capitalization of around $44 billion, Cardano has observed a modest growth with its value growing from $0.02 in 2017 to $1.34 in 2022, and an increase of 6,600%.The best example among the people who made a fortune out of trading cryptocurrency is Sam Bankman-Fried, the founder and CEO of FTX, a cryptocurrency exchange. An American business and an effective altruist, Bankman-Fried holds a net worth of US$22.5 billion, a major portion of which comes through crypto trading.