Top 5 Cryptocurrency in January 2022
The world of cryptocurrencies changes rapidly, and there are plenty of different aspects to keep up with. Whether you’re an investor or just want to know what’s happening in the world of digital money, it can be hard to track every cryptocurrency down and see how it fares against its competitors over time. Here are the top 5 crypto currencies in January 2022.
Bitcoin (BTC)
Price: 43,012.00 USD
Market Cap: 815.573B USD
This is probably one of those that you’ve heard about and read about but never had a chance to get your hands on. A peer-to-peer system, it’s digital, decentralized, and not under any central authority. It relies on cryptographic functions to create new currency units, verify transactions, and protect against counterfeiting and fraudulent transactions. Transactions are verified by other users known as miners who are rewarded with BTC for their efforts. Bitcoin has come a long way since its release in 2009, climbing from less than $1000 USD at launch to over $40,000 today. But it hasn’t stopped there; if anything, its momentum looks set to continue.
Ethereum (ETH)
Price: 3,310.78 USD
Market Cap: 394,891,924,468.92 USD
Ethereum is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. Since its launch in 2015, Ethereum has grown to become the second largest blockchain after Bitcoin in terms of market cap and has spawned an entire market of tokens which can be transacted on the Ethereum blockchain like ether.
Binance Coin (BNB)
Price: 0.9988 USD
Market Cap: $14,398,855,498.55
Binance Coin is an altcoin based on Ethereum which allows users to receive discounts when using Binance exchange services. Since its inception, BNB has steadily increased its market cap, making it one of top cryptocurrency 2018. The coin was launched at a time when there were very few coins that didn’t use Bitcoin blockchain and hence could be exchanged to other altcoins and cryptos easily. On April 1st, 2017, Binance announced that they would burn 50% of their profits until 100 million BNB have been burned – making them even more valuable for those who still hold them.
Tether (USDT)
Price: 1 USD
Market Cap: $78,422,745,386.53
The tether is a cryptocurrency that aims to maintain a 1:1 exchange rate with the US dollar, i.e. It doesn’t seem particularly risky, but it has become controversial because of questions over whether or not Tether can actually back up those US dollars they supposedly have stashed away. Still, if you want a simple, stable coin that you can hold on your account and use to pay for goods and services online, then Tether is worth looking into. As a side note; this cryptocurrency is one of the top five cryptocurrencies by market cap. In January 2022, USDT will continue to be one of top five cryptocurrency in terms of market capitalization.
Solana (SOL)
Price: 146.47 USD
Market Cap: 45,993,546,294.20 USD
Solana is a platform that allows users to build fast, cheap and decentralized applications. The project aims to create a new technology for scaling DApps by creating a new off-chain solution that makes it easy for developers to develop smart contracts. Solana claims that their unique approach allows them to scale up to 10,000 transactions per second (TPS) at very low cost – with plans of reaching 20,000 TPS by mid-2019.
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