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Cryptocurrency has become a worldwide phenomenon lately, albeit much is still to be found out about this advancing technology. The cryptocurrency market is expanding to a large extent with more investors wanting to trade cryptos. From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different crypto coins, which makes the crypto market overwhelming. This article focuses on the top 10 promising cryptocurrencies to buy in October 2021.
Price- US$46,505.06
Market cap- US$873.545 billion
Bitcoin has been around for the longest of any cryptocurrency. It's easy to see why it's the leader, with a price, market cap, and volume that's much higher than any other investment option. Even with thousands of other cryptocurrencies on the market, Bitcoin still represents over 40% of the cryptocurrency market cap.
Current price: US$3,370.82
Market Capital: US$396,249,588,762
Ethereum is different from Bitcoin because it isn't only a cryptocurrency. It's also a network that allows developers to create their cryptocurrency utilizing the Ethereum network. While Ethereum is far behind Bitcoin in value, it's also far ahead of the other competitors. Even though it came out years after some other cryptocurrencies, it has far exceeded its place in the market because of its unique technology.
Current Price: US$419.40
Market Capital: US$70,343,197,782
Binance Coin is one of the few cryptocurrencies to reach its peak after 2017. During that year, there was a bull market and the price of all cryptocurrencies rose on it, reaching a peak before plateauing and decreasing in value. Unlike other cryptocurrencies, Binance Coin continued a slow but consistent trend upward after 2017. Because of its performance, Binance Coin has proven to be one of the more stable investment options, posing fewer risks.
Current Price: US$2.20
Market Capital: US$70,142,703,793
The Cardano network has a smaller footprint, which is appealing to investors for several reasons. It takes less energy to complete a transaction with Cardano than with a larger network like Bitcoin. This means transactions are faster and cheaper. It claims to be more adaptable and more secure. Cardano consistently improves its development to stay ahead of hackers.
Current Price: US$31.16
Market Capital: US$30,759,217,076
Polkadot was created by Ethereum leaders who broke away to form their cryptocurrency with a better network. Instead of having a single "lane" to complete transactions in, Polkadot has several. This cryptocurrency was designed to reward genuine investors and weed out people who are just trading to make money fast.
Current Price: US$168.88
Market Capital: US$50,364,860,400
A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale. Solana is expected to be a cryptocurrency with the best growth potential in October 2021 as it has risen to become the sixth-largest cryptocurrency by market capitalization.
Current Price: US$1.00
Market Capital: US$32,301,238,285
Like Tether, USD Coin (USDC) is a stablecoin, meaning it's backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.
Current Price: US$0.2165
Market Capital: US$28,424,823,062
Dogecoin started as a facetious meme featuring a Shiba Inu dog, but it's no joke these days. Elon Musk and Mark Cuban are investors, with Musk calling Dogecoin one of the "three meaningful assets" he owns besides his company, Fox Business reported.
Current Price: US$1.04
Market Capital: US$48,450,416,127
XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger. So far, the beginning of the month has been great for XRP, and investors are keeping high hopes for this cryptocurrency.
Price: US$1.00
Market cap: Over $68 billion
Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it's backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether's value is supposed to be more consistent than other cryptocurrencies, and it's favored by investors who are wary of the extreme volatility of other coins.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
