When we talk about cryptocurrencies, Bitcoin always gets all the attention. After more than a decade in this ecosystem, Bitcoin proved itself to be the most secure cryptocurrency in existence. But then again, new cryptocurrencies were also invented, which solve serious problems with the system.
These currencies include altcoins, stablecoins, and even some meme coins. Not all currencies have made it to the top. But, there are some who have claimed their worth in this fierce and competitive market. In this article, we are going to list some successful cryptocurrencies.
List of Successful Cryptocurrencies
The success of a person or an entity can be difficult to measure as it can be quite subjective. In this article, we’ll discuss cryptocurrency’s success on the basis of its market cap as well as its search frequency on search engines like Google.
In terms of popularity, Bitcoin is always chased by Ethereum. It is the second-largest cryptocurrency by market cap and powers an entire ecosystem of DeFi, Metaverse, and other blockchains.
In 2011 Ethereum was launched by Vitalik Buterin, who found Bitcoin’s smart contract system to be quite limited. Ethereum was created to fix the shortcomings of Bitcoin. The result was a blockchain powered by a Turing-complete language called Solidity.
Ethereum’s ecosystem is big and it gives value to hundreds of other cryptocurrency projects and tokens. Tokens like Tether, SHIBA inu, MATIC, and ChainLink are some of them.
After ethereum, Tether is the most popular cryptocurrency, commonly known as the Tether. It is a stablecoin in which each unit is minted against a cryptocurrency dollar by the Reserve Bank of America. It was released back in 2014 and has been one of the most popular cryptocurrencies ever since.
The Tether project has gained massive popularity because it solves the problem of volatility, which is usually the factor that drives users away from using crypto as a day-to-day payment mode. Other than that, Tether is also the most popular currency used in the crypto space for trading. It provides a convenient and non-volatile pair against other cryptocurrencies.
Binance Coin (BNB)
When it comes to the crypto space, there’s one word that everyone has heard of, and that’s Binance. It is the world’s largest cryptocurrency exchange with the highest liquidity.
It comes as no surprise that one of the most successful Cryptocurrencies has been developed by this very company. The Binance coin, or BNB, is developed on the Binance smart chain and follows the BEP-20 standard.
Solana, is the flash of the Cryptocurrency world. Solana’s block time is around 400ms. That means it can process a transaction in 1/4th of a second. This makes it faster than any digital payment system in the world, let alone Cryptocurrencies.
To give you a better idea, Bitcoin’s block time is around 10 minutes to as much as one hour. On the other side, Ethereum’s block time is 15 seconds. This makes Solana light years ahead of both of these currencies. Additionally, Solana’s ecosystem uses Rust, which is a fast, high-level language used for writing Smart Contracts.
Though not technically a currency, MATIC is an ERC-20 token that runs on the Polygon blockchain. Polygon is an L2 scaling solution on the Ethereum blockchain, and it reduces Ethereum’s block time and gas fee and improves its scalability and flexibility.
MATIC is one of the most preferred tokens used in the gaming industry, and it has already seen some uses in the Metaverse.
Avalanche is a fast and low-cost smart contract-based blockchain platform that is focused on building decentralized apps and facilitates the creation of custom blockchains. Its users can process transactions using the native AVAX token.
The Avalanche project also hosts a lot of DeFi apps, which further proves this project’s success.
We can estimate what value cryptocurrency may have for investors in the coming months and years (and many wills), but the reality is it’s still a new and speculative investment, without much history on which to base predictions. No matter what a given expert thinks or says, nobody truly knows. That is the reason it’s essential to just contribute what you’re ready to lose, and stick to additional regular speculation for long-term wealth building.
Keep your investments small, and never put crypto investments above any other financial goals like saving for retirement and paying off high-interest debt.