Cryptocurrency started out as what some people would refer to as an ‘investment in the wild wild west’, however over recent years they have become a staple in the mainstream sector of the finance world.
Investors all around the world are gathering to talk about what’s pumping and what’s tanking, which token or coin is the best place to put their money right now and more. The year’s best-performing cryptocurrencies allowed crypto investors to significantly surpass the market rate of return on traditional assets such as equities and commodities.
Thus, the cryptocurrency market began as an investment in the wild, ruled by mavericks, but has now established a strong foothold in the mainstream of finance.
On today’s PancakeTheorem, we’ll discuss the most actively traded cryptocurrencies. While Bitcoin is often the focal point of news when it comes to cryptocurrencies, there are practically dozens of alternative possibilities. This post will highlight five of the top performing digital currencies in the first quarter of this year.
Tether is a stablecoin, its price is fixed at $1 per coin. Stablecoins are backed by a specific asset, in Tether’s instance, the US dollar. Tether is often used as a means of exchange by traders switching from one cryptocurrency to another. Rather than returning to dollars, they are utilising Tether. Due to Tether’s stability, many cryptocurrency investors prefer it over other cryptocurrencies.
It’s unsurprising that Bitcoin remains the world’s most popular cryptocurrency. Bitcoin would be larger than Meta Platforms (previously known as Facebook) and Tesla if it were a firm. Bitcoin retains the benefit of being the most widely used cryptocurrency. It is more generally acknowledged than any other digital currency, owing to its longevity.
According to CoinTelegraph, Ethereum, popularly referred to as ether, is the world’s second biggest cryptocurrency behind bitcoin, even outpacing bitcoin in terms of price appreciation. Ethereum released a big upgrade last year that includes a cut in the Ethereum supply, which is now 120.33 billion coins.
Numerous cryptocurrency specialists believe Terra (LUNA) is a very interesting cryptocurrency due to its enormous potential and ambition as a means of trade and payment. Another reason Terra (LUNA) is among the top ten biggest cryptocurrencies in terms of market capitalization. Additionally, it is expected to be one of the most popular cryptocurrencies in 2022.
Waves is a comprehensive blockchain platform that enables a diverse range of use cases, including decentralised applications (DApps) and smart contracts. Waves was founded in June 2016 after one of the industry’s first Intended Coin Offerings (ICOs), with the initial goal of increasing early blockchain systems’ speed, functionality, and usage.
The most widely used cryptocurrency is Solana. The Solana network is optimised for high transaction speeds and throughput. Solana is developing a novel method that adds to transaction speed. Solana is a rival to Ethereum, capable of executing more than 50,000 transactions per second.