Cryptocurrencies experience many ups and downs but they always manage to keep the investors excited and engaged for more. In this article, we review five of the most popular crypto coins and tokens. The selection of cryptos for this article is based on market capitalisation as of August 2022. Let’s dive in.
When Satoshi Nakamoto invented Bitcoin (BTC) in 2008, he would not have imagined the impact his invention would create. A year later, in 2009 the currency came into circulation when its implementation software was released as open-source software. The current market cap (as of 14th August 2022) of Bitcoin is $472.938 billion. Currently, one bitcoin is being traded at $24,733. The value of Bitcoin is controlled by its limited supply. It has 19,121,131 coins in circulation and has a maximum supply of 21,000,000.
The returns of Bitcoin for the past year are not encouraging at all and stand at -48.1%. The attached graph shows the market cap movement of Bitcoin since January 2020.
Ethereum is the most loved blockchain network as of now due to its ability to host different services like Defi, DAOs, NFTs etc. Its native coin Ether (ETH) is currently being traded at $1998 and has a market capitalization of $240.143 billion. The Ether coin has a total and circulating supply of 120,091,786 and the maximum supply is infinite.
Currently, the Ethereum network works on the Proof-of-Work (PoW) mechanism and is transitioning to the Proof-of-Stake (PoS) mechanism which will make it faster, scalable, accessible and cheaper. This event has been named The Merge and it is proposed for the 19th of September 2022. The market capitalization variation of ETH is depicted in the attached chart.
3. USD Coin
USD coin (USDC) is a stable coin having its’ value pegged to the US dollars. This means that the value of one USD coin is always equivalent to a US dollar. It was launched in September 2018 by a payment company called Circle and cryptocurrency exchange Coinbase. The value of the coin is maintained through the reserves having cash and short-term US Treasury bonds. The current market capitalization of USD Coin is $ 53.643 billion. The total and circulating supply of the coin is 53,633,845,577. The graph shows the market capitalization of USDC since January 2022.
Binance Smart Chain developed by the crypto exchange Binance has its’ native token called BNB. It became a hit in 2021 among crypto enthusiasts. It currently has a market cap of $53.622 billion and the price of one BNB coin is around $328. However, its price peaked at $686.31 in May 2021. It is a limited supply coin with a maximum supply of 165,116,760 and the circulating supply of 163,276,974.
The one-year returns for BNB are negative 20% and the last 30-day return is 37.7%.
The graph shows the market capitalization of BNB since January 2022.
Cardano blockchain network works on the Proof-of-Stake concept and is the first network to be developed with peer-reviewed research and evidence-based methods. With 33,820,262,543 tokens in circulation and a maximum supply of 45,000,000,000 Cardano coin (ADA) is the fifth largest coin by market cap of $19.814 billion. As of now, it is being traded at $0.58. It hit an all-time high of $3.09 in September 2021. Cardano generated negative returns of -72.6% in a year and positive returns of 32.7% in the last 30 days.
The graph shows the market capitalization of Cardano since January 2022.