Cryptocurrencies may have started as an investment in the Wild West, but now they are firmly established in the mainstream of finance.
The best performing cryptocurrencies in 2022 have enabled crypto investors to outperform the market rate of return for other assets such as stocks and commodities many times over. The cryptocurrency market may have started as an investment Wild West dominated by mavericks, but is now firmly rooted in the mainstream of finance. Today we will talk about the most traded cryptocurrencies. Bitcoin grabs headlines when people talk about cryptocurrencies, but there are literally thousands of other options when it comes to these digital currencies. This article presents the 10 best-selling cryptocurrencies in the first quarter of 2022.
The price of Tether is pegged to $1 per coin. This is because it is called a stablecoin. Stablecoins are pegged to the value of a particular asset, in the case of Tether, the US dollar. Tether often acts as a medium for traders to switch from one cryptocurrency to another. Instead of going back to dollars, they are using Tether. Many crypto investors prefer Tether to other cryptocurrencies due to its stability.
There is nothing surprising in the fact that Bitcoin is still the most popular cryptocurrency in the world. 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 main cryptocurrency. It is more widely accepted than any other digital coin, mainly because it has been around longer.
Ethereum, commonly referred to as ether, is the world’s second largest cryptocurrency after bitcoin, even surpassing bitcoin in terms of price appreciation, according to CoinTelegraph. Last year, Ethereum implemented a major update that included a reduction in the Ethereum supply, which currently stands at 120.33 billion coins.
Binance USD (BUSD) is a 1:1 US dollar backed stablecoin 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 on the official website. Launched on September 5, 2019, BUSD aims to combine dollar stability with blockchain technology. It is a digital fiat currency issued as ERC-20 and supporting BEP-2.
Whether Bitcoin Cash is a good investment also depends on how you expect the cryptocurrency to perform in the future. Although seen more as a medium of exchange, Bitcoin Cash can be considered a good bet if you think its scalability and faster processing will lead to widespread adoption. It is also one of the top selling cryptocurrencies in the first quarter of 2022.
US dollar coin
USD Coin (USDC) is a new stablecoin pegged to the US dollar. It was released on September 26, 2018 after a partnership between Circle and Coinbase. USDC is a USD-backed cryptocurrency that competes with Tether (USDT) and TrueUSD (TUSD). In a nutshell, USD Coin is a service that tokenizes US dollars and allows them to be used on the Internet and public blockchains.
Many crypto experts consider Terra (LUNA) a very attractive cryptocurrency because Terra (LUNA) has great potential and ambition as a medium of exchange and payment. Another reason why Terra (LUNA) is in the top 10 largest cryptocurrencies by market cap. It is also one of the most popular cryptocurrencies in 2022.
Waves is an all-in-one blockchain platform that supports a variety of use cases, including decentralized applications (DApps) and smart contracts. Launched in June 2016 after one of the first Initial Coin Offerings (ICOs) in the cryptocurrency industry, Waves initially set out to improve early blockchain platforms by improving speed, utility, and usability.
Solana is the most popular cryptocurrency. The Solana network focuses on fast transactions and high throughput. Solana is working on a unique mechanism that contributes to the speed of transactions. Solana is known as one of Ethereum’s competitors, capable 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 cryptocurrencies. So why is BNB among the best cryptocurrencies for day trading? First, the asset is linked to Binance, the largest crypto exchange in the world, Binance is always in the news. This means that upgrades with the exchange will definitely affect the price of BNB.