Cryptocurrencies might have started out like a Wild West of investing, but it’s now firmly in the financial mainstream.
The best performing cryptocurrencies in 2022 have allowed crypto investors to beat the market rate of return in other assets – like equity and commodities – by several times. Cryptocurrency market might have started out like a Wild West of investing dominated by mavericks, but it’s now firmly in the financial mainstream. Today we will talk about the most traded cryptocurrencies. Bitcoin gets all the headlines when people talk about cryptocurrencies, but there are literally thousands of other options when it comes to these digital currencies. This article features the top 10 most traded cryptocurrencies in the first quarter of 2022.
Tether’s price is anchored at US$1 per coin. That’s because it is what’s called a stablecoin. Stablecoins are tied to the value of a specific asset, in Tether’s case, the U.S. Dollar. Tether often acts as a medium when traders move from one cryptocurrency to another. Rather than move back to dollars, they use Tether. Many crypto investors prefer Tether over other cryptocurrencies because of its stability.
There’s absolutely no surprise whatsoever that Bitcoin still reigns as the world’s most popular cryptocurrency. If Bitcoin were a company, it would be bigger than Meta Platforms (formerly known as Facebook) and Tesla. Bitcoin continues to enjoy the advantage of being the first cryptocurrency. It’s more widely accepted than any other digital coin, mainly because it’s been around longer.
Ethereum, commonly known as ether, is the world’s second-largest cryptocurrency behind bitcoin, even outperforming bitcoin recently in terms of price gains, CoinTelegraph reported. Last year, Ethereum instituted a major upgrade that included reducing the supply of ether, currently at 120.33 billion coins.
Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance (in partnership with Paxos), approved and regulated by the New York State Department of Financial Services (NYDFS), The BUSD Monthly Audit Report can be viewed from the official website. Launched on 5 Sep 2019, BUSD aims to meld the stability of the dollar with blockchain technology. It is a digital fiat currency, issued as ERC-20 and supports BEP-2.
Whether Bitcoin Cash constitutes a good investment also depends on how you expect the cryptocurrency to perform in the future. Although it’s seen more as a medium of exchange, Bitcoin Cash could be considered a good bet if you believe its scalability and faster processing will lead to widespread adoption. It is also one of the most-traded cryptocurrencies in the first quarter of 2022.
USD Coin (USDC) is a new stablecoin that is linked to the US dollar. It was released on September 26, 2018, as a result of a partnership between Circle and Coinbase. USDC is a USD-backed cryptocurrency that competes with Tether (USDT) and TrueUSD (TUSD). USD Coin, in a nutshell, is a service that tokenizes US dollars and allows them to be used on the internet and public blockchains.
Many crypto experts find Terra (LUNA) a very attractive cryptocurrency because Terra (LUNA) has great potential and ambition as a medium of exchange and payment. Another reason, Terra (LUNA) has entered the top 10 leading cryptocurrencies by market cap. It is also one of the most sounght after cryptocurrencies of 2022.
Waves is a multi-purpose blockchain platform that supports various use cases including decentralized applications (DApps) and smart contracts. Launched in June 2016 following one of the cryptocurrency industry’s earliest initial coin offerings (ICO), Waves initially set out to improve on the first blockchain platforms by increasing speed, utility, and user-friendliness.
Solana is fundamentally the most popular cryptocurrency. Solana network is focusing on fast transactions and high throughput. Solana is working on a unique mechanism that is helping in transaction speed. Solana is known as one of the competitors of Ethereum with the capability of processing over 50,000 transactions per second.
Binance Coin is the most popular exchange token in the world. The asset was launched by Binance – the world’s largest cryptocurrency exchange and one of the most popular names in crypto. So, why is BNB among the best crypto for day trading? First is the assets’ ties to Binance, the world’s largest crypto exchange, Binance is always in the news. This means that updates with the exchange will definitely spill over to affect BNB’s price.
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