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30.. What’s Hot in Crypto Part-1

From: Shazeb

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.

1.    Bitcoin

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.

2.    Ethereum

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.

4.    BNB

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.

5.    Cardano

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.

Another LYCA SMITH Design!

bitcoin
Bitcoin (BTC) $ 18,782.34
ethereum
Ethereum (ETH) $ 1,290.41
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.474221
polkadot
Polkadot (DOT) $ 6.24
terra-luna
Terra Luna Classic (LUNC) $ 0.000183
avalanche-2
Avalanche (AVAX) $ 17.07
binance-usd
Binance USD (BUSD) $ 1.00
crypto-com-chain
Cronos (CRO) $ 0.111889
terrausd
TerraClassicUSD (USTC) $ 0.025848
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 18,783.31
matic-network
Polygon (MATIC) $ 0.734166
shiba-inu
Shiba Inu (SHIB) $ 0.000011
dogecoin
Dogecoin (DOGE) $ 0.0609
solana
Solana (SOL) $ 32.17
cardano
Cardano (ADA) $ 0.44126
cosmos
Cosmos Hub (ATOM) $ 13.95
near
NEAR Protocol (NEAR) $ 3.59
algorand
Algorand (ALGO) $ 0.365883
bitcoin-cash
Bitcoin Cash (BCH) $ 113.60
okb
OKB (OKB) $ 14.96
fantom
Fantom (FTM) $ 0.222917
stellar
Stellar (XLM) $ 0.116103
ftx-token
FTX (FTT) $ 23.36
tron
TRON (TRX) $ 0.059201
chainlink
Chainlink (LINK) $ 7.56
staked-ether
Lido Staked Ether (STETH) $ 1,285.96
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