Top Dogs: The State Of The Biggest Tokens To Close The Year
This year was filled with a lot of gains and losses, ups and downs, and most importantly – massive growth and development within the crypto community. We have witnessed memes turn into high value tokens, and we got a better look behind the curtains on how crypto can evolve.
Our team has gathered a list of the biggest cryptocurrencies and will provide a high-level perspective on each one to close out the year.
Top 3 Mainstream Tokens To Keep An Eye On Going Into Next Year
1. Bitcoin (BTC)
Market cap: US$1,045,381,705,616
Bitcoin, the longest running and largest cryptocurrency to date, has been on top since it first came to market in 2009. The numbers and stats show you why it’s the leader, with a price, market cap, and volume that’s much higher than any other crypto option to invest in. Bitcoin still represents roughly 43% of the cryptocurrency market cap, and with Lightning Network optimization, many businesses are now beginning accept Bitcoin as payment – that makes this legacy cryptocurrency eye candy for future gains. Companies such as Visa, Tesla, Cash App, Home Depot, Microsoft, and many more found their name mentioned with Bitcoin in some capacity this year, showing immense potential around changing the way we use our money.
Even if you’re a “maxi” on other tokens, you should be at the very least keeping your eye on Bitcoin, as it looks to continue it’s legacy standing heading into next year.
Related Reading | Elon Musk Reveals How Much He Owns Of Dogecoin Rival, Shiba Inu
BTC: Bitcoin is back down to the $55K range, after rise to 62k last month. | BTC-USD on TradingView.com
2. Ethereum (ETH)
Market cap: US$409,397,530,375
Ethereum the second largest crypto behind Bitcoin, but has been around for practically just as long, and seen substantial recent success with the emergence of DeFi platforms and NFTs. More than just a token, Ethereum is a network that allows developers to create their cryptocurrency that has resulted in a variety of successful Layer 2 platforms. The network went live in 2015 with an initial supply of 72 million tokens. Ethereum has been a powerhouse token utilized in decentralized finance, the production and exchange of non-fungible tokens (NFTs), and many Initial Coin Offerings (ICOs). They have held the position for many years based off of its first come first serve and has since not given up its spot on the top. If you’re bullish on NFTs and DeFi, paying attention to Ethereum is a no-brainer, particularly as we inch closer to Ethereum 2.0.
3. Cardano (ADA)
Market cap: US$70,693,329,240
Cardano is a blockchain platform with a much smaller carbon foot print then Bitcoin and Ethereum. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson, and now holds the fifth largest market cap (behind the aforementioned Bitcoin and Ethereum, and Binance Coin and stablecoin Tether). It takes less energy to complete a transaction with Cardano than with a larger network like Bitcoin, which makes it particularly environmentally-friendly. Cardano also claims to be more adaptable and more secure, and is consistently working on development and new partnerships.
All in all, the most important projects and tokens you can follow are those that you truly believe in. Stay tuned to the latest news here at Bitcoinist for regular updates around these platforms and more, as we look towards another crypto-crazed year ahead.
Related Reading | SEC Will Reportedly Not Allow Leveraged Bitcoin ETF
