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The transaction volumes and selling prices of cryptocurrencies, which are considered the rising value of today and the currency of the future, reach amazing rates every day. Even if their value falls or rises by thousands of dollars instantly, the 10 most valuable cryptocurrencies, which have been on top for a long time and push to the top, continue to play an active role in the markets.
Credit cards appeared first, and cash usage decreased. So, with mobile payment, we no longer even need to carry a wallet. With all this digitization process, cryptocurrencies, which can be seen as an alternative to the current economic system, have entered our lives. Bitcoin, first introduced by Satoshi Nakamoto in 2009, has been used illegally as a medium of exchange for years. Its real breakthrough was experienced in the years in which it would be traded against the dollar and became an investment tool.
You may have heard of cryptocurrencies in 2017, when Bitcoin was approaching $ 20,000. In fact, almost everyone unfamiliar with the financial world witnessed the existence of cryptocurrencies in 2017. Before and after the rise of Bitcoin, we have seen many cryptocurrencies with the same or similar structure.
Cryptocurrencies, which are newer than other currencies, are seen as today’s fastest growing value and the foundation of the future financial system. Just like the euro, dollar and Turkish lira are different currencies, cryptocurrencies differ from each other equally. However, cryptocurrencies have no central governments they depend on like ordinary currencies and what determines their value are not political or political situations. Cryptocurrencies are gaining value based on investments made, usage rates and purposes.
In short, what are cryptocurrencies?
Cryptographic Money; It is a virtual asset, a buying tool created as an alternative to all the currencies we know, using cryptography, a type of encryption technology, to secure transactions. It is also called virtual currency for cryptocurrencies. The underlying encryption technology is called the blockchain.
The most surprising point about crypto currencies is that they are not linked to any center. It is produced and protected only by users in a blockchain, with no government or bank guarantee. The total value of cryptocurrencies is expected to reach $ 2 trillion in the coming years.
The most valuable cryptocurrencies:
Bitcoin – $ 254.4 billion
Ethereum – $ 43.3 billion
Tether: $ 16.7 billion
XRP – $ 10.7 billion
Bitcoin Cash – $ 4.4 billion
Chainlink – $ 3.9 billion
Binance Coin – $ 3.8 billion
Litecoin – $ 3.4 billion
Polkadot – $ 3.3 billion
USD Coin – $ 2.9 billion
USD currency
Release year: 2018
Market value: $ 2.9 billion
The USD coin, known in the market as USDC, is backed by US bonds, unlike many crypto currencies. It was produced in its factory to equal USD 1 to USD 1 Coin. USD Coin’s purpose is to provide a safe haven for cryptocurrency investors at the dollar rate; It is to create an ecosystem made up of many areas such as wallet, stock exchange, service provider.
A pois
Release year: 2020
Market value: $ 3.3 billion
The Polkadot crypto money project, referred to in the market under the abbreviation DOT, is an open source project developed by the Web3 Foundation based in Switzerland. The most important goal of the project is to ensure that all blockchain networks in cryptocurrency exchanges work together. Palkadot aims to create financial institutions that are not based, are easily established and can easily connect with each other.
Litecoin
Year of origin: 2013
Market value: $ 3.4 billion
Litecoin, known as LTC on the market, was first created by Charlie Lee, a former Google employee, in 2001, but only started in 2013. Litecoin was created to be a lighter currency than Bitcoin. As for Bitcoin gold, LTC, which draws attention with the thought of Litecoin silver and its 2.5-minute per block transaction confirmation service, is criticized for not always delivering the promised speed in terms of speed of approval of the transaction.
Binance Coin
Release year: 2017
Market value: $ 3.8 billion
Binance Coin, indicated on the market by the acronym BNB, was initially created as an ERC – 20 token on the Ethereum blockchain. However, when it later started rolling out on the Binance blockchain, Ethereum was not hosted on the blockchain. Binance Coin, which has a one-to-one relationship with the Bitcoin BEP2 cryptocurrency, is used for purchases on the cryptocurrency exchange Binance.
Chain
Release year: 2017
Market value: $ 3.9 billion
The Chainlink network, referred to in the market as LINK, was created to combine all the block chains and cryptocurrency exchanges in the world. Since the Chainlink system, which has a strong smart contract network, has a reputation in the market, large contracts are rewarded, but failure to provide accurate information results in a drop in tokens. Only 35% of 1 billion LINK on the market is offered to the public.
Bitcoin Cash
Release year: 2017
Market value: $ 4.4 billion
The Bitcoin Cash cryptocurrency, known as BCH in the market, was created after the separation into the Bitcoin blockchain as we know it. BCH aims to offer a new understanding of liquidity in the evolving system of global markets. Since the block size in the BCH blockchain is 8 times the known Bitcoin, it offers much wider benefits to those who want to mine.
XRP
Year of origin: 2013
Market value: $ 10.7 billion
The XRP crypto currency, referred to by the abbreviation XRP, which is the same as its name on the market, is used in the RippleNet digital payment platform on the XRP Ledger database. XRP Ledger is completely open source and does not depend on any blockchain. XRP; It was created as a faster, less expensive, more secure and scalable alternative to other payment platforms.
To tie
Year of origin: 2015
Market value: $ 16.7 billion
The crypto currency Tether, which on the market is called USDT, is a crypto currency created by a company called Tether in Hong Kong by fixing it at USD. In order for 1 USDT to hold the value of 1 USD, the company always keeps USD in reserve. So USDT, unlike many other cryptocurrencies, has a center and support areas. It aims to combine the unlimited world of cryptocurrencies with the US dollar.
Ethereum
Year of origin: 2015
Market value: $ 43.3 billion
Ethereum, known as ETH in the market, is a blockchain that was officially launched in 2015 after a preparation process of around two years. The founders of ETH aim to eliminate unnecessary costs and offer much greater profits to miners by developing a platform that uses software called smart contracts, thereby reducing the number of intermediates.
Bitcoin
Release year: 2009
Market value: $ 254.4 billion
Bitcoin, known as BTC in the market, is one of the first cryptocurrencies to emerge and is at the top of the market. Being one of the first gives Bitcoin an edge in many issues such as market value. Purpose of production; Making purchases and sales between two financial markets without intermediaries, without losing a share of profit and keeping expenses to a minimum by eliminating centers, supports and intermediate personnel.
In the ranking of the 10 most valuable cryptocurrencies, the values of the higher and listed units change instantly. While they don’t have a very common area of use today, the market value of cryptocurrencies is becoming more stable every day and is really taking decisive steps to become the currency of the future.
