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Cryptocurrencies have taken a solid place in the trading market. The popularity of cryptocurrencies is increasing at a rapid pace and this influence is attracting new investors along with seasoned financial investors who want to give cryptocurrencies a shot. With several headlines every day, cryptocurrencies like Bitcoin and Ethereum are spreading the needed awareness of crypto potential. A lot more people are interested in buying cryptocurrency and Analytics Insight has selected the 10 most purchased cryptocurrencies in 2021.
The king of all cryptocurrencies is all about growth these days. Coasting through the highs and lows, Bitcoin is now nearing its all-time high of US$60,000. This growth spurt is exciting several investors into reaping profits as Bitcoin is taking the cryptocurrency market towards a bull run.
The second-largest cryptocurrency in the market, Ethereum is known for its decentralized software platform that first introduced smart contracts. With a market cap of US$445 billion, Ethereum's anticipated new launch, Ethereum 2.0, has made this cryptocurrency one of the most widely talked about projects in the crypto world. Many tech giants, including Microsoft, Intel, and JP Morgan are building software for business use that runs on the Ethereum network.
Cardano is an underrated cryptocurrency. It's the biggest competitor to Ethereum as Cardano uses a proof-of-stake algorithm, something that Ethereum will soon incorporate. While Cardano has yet to release smart contracts, its network is faster and cheaper than Ethereum. Amidst the market volatility, Cardano tends to stabilize quickly. It's the fifth-largest cryptocurrency in the world and a reliable choice for investors.
Tether is a stable coin. Unlike most other cryptocurrencies, its value is pegged to a fiat currency like the US dollar or the Euro. Tether ensures that its investors receive a value of US$1 or 1 Euro for every Tether purchased. For investors who are looking for low-risk options, stable coins like Tether are a good choice as there is almost no volatility effect.
As long as there is activity on Binance, the world's largest crypto exchange, its token Binance Coin will continue to grow. Binance Coin acts as a payment method for anyone who wants to trade on Binance exchange. Even after the recent shutdown by the UK, Binance continues to lead the market so Binance Coin's value is intact. As of 2021, it has a market cap of US$81 billion, making it the fourth-largest crypto in the world.
Ethereum Classic is a result of a split in Ethereum's network. It is an open-source, decentralized crypto platform that also runs smart contracts. While this is being considered as a new cryptocurrency, its 24-hour market volume is US$5.70 billion with a market cap of US$8.77 billion already.
Ripple is a digital technology and payments processing company and XRP is it's token. To facilitate the exchange of other cryptocurrencies on the network, XRP can be traded for traditional currencies as well. XRP has seen massive growth over the years and now trades at US$1.2 making this one of the most affordable cryptos to invest in that is trusted by several banks.
Solana is one of the fastest-growing DeFi ecosystems and now has a native cryptocurrency coin that saw its value peak in July. Launched in March 2020, within a short span it has managed to become the 14th largest cryptocurrency with a market capitalization of US$37 billion. The Proof-of-History algorithm that it uses has the highest speeds of transaction. As compared to Ether, Solana offers low transaction fees.
USD Coin is also a stable coin with its value pegged to the US dollar. For every USD Coin bought, the investor will be assured the value of US$1. This coin is powered by Ethereum which means it can complete transactions on a global scale.
Bitcoin Cash has a historic factor behind its success. It is one of the earliest and most successful hard forks of the original Bitcoin. A fork, in the crypto world, refers to a separate coin that stemmed out of debates between developers and miners. Bitcoin failed to fulfil all the promises it made about its blockchain network, and hence Bitcoin Cash was born. With no other connection to Bitcoin, BTC holds immense potential because of its faster network and as it is cheaper than Bitcoin, investors trust its future to invest in Bitcoin Cash.
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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.
