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Exploring The Standout Cryptocurrencies Of December 23-24

Talk of the tongue nowadays is cryptocurrency and I think the future of paper money may fall in danger. But how can I know the future? 

Anyway the main thing is it’s the most useful asset and maybe the most risky at the same time. 

I know, searching out the big landscape of cryptocurrencies can be daunting, given the multitude of options available. 

So, without wasting time let’s delve into the top 10 cryptocurrencies that are based on market cap. These give valuable insights into the evolving crypto market. So now we’re going to see why and how.

Ethereum (ETH)

  • Market Cap: $266.5 billion

One of the most trustworthy platforms is Ethereum. It’s a trustworthy blockchain and is loved by many members because of its outstanding features like smart contracts and NFTs. 

Therefore, Ethereum has seen an incredible rise in value which went from $11 in April 2016 to a whopping $2,217 by December 2023. This progress surely shows how widely it’s being adopted.

Tether (USDT)

  • Market Cap: $90.7 billion

It is definitely distinguished as a stablecoin and is backed by fiat currencies. Tether provides a more stable value compared to volatile counterparts and it is a remarkably adapted crypto platform. It’s rapidly spreading and is also trusted in cryptocurrency marketing.

Binance Coin

  • Market Cap: $38.5 billion

Binance coin started as a utility for the Binance exchange. More so, it’s used for trading, transactions, and even booking travel nowadays. On top, its value has levelled high from just $0.10 in 2017 to $254 by December 2023. It’s playing a great role in crypto marketing and is rapidly approaching for everyone.

 XRP 

  • Market Cap: $33.6 billion

It may not be the best but is one one the growing networks of crypto. It was designed by Ripple founders to facilitate currency exchanges on the Ripple network. Its growth from $0.006 in 2017  made progress to $0.62 in December 2023. It highlights its evolving utility and is incredibly making its place in the cryptocurrency markets.

Solana

  • Market Cap: $30.0 billion

Solana is designed for separate finance and apps. It uses special proof of stake and history evidence systems. It was launched in 2020 at $0.77.  with impressive growth Solana reached  $70.28 by December 2023. It’s been quite a journey for SOL and to make a great way in the market.

Understanding Cryptocurrencies

Cryptocurrencies, purely digital, enable online transactions without intermediaries like banks. Blockchain technology underpins most cryptocurrencies, ensuring trustless transactions without centralised oversight.

The Cryptocurrency Landscape

With over 22,000 crypto projects as of June 2023, this emerging field offers diverse functionalities, from currency to infrastructure development on platforms like Ethereum and Solana.

Investing In Cryptocurrency

Explore cryptocurrency exchanges such as Coinbase or Kraken, along with brokerages like WeBull or Robinhood, to initiate crypto investments. 

Be mindful of tax implications, treating cryptocurrency as a capital asset subject to capital gains taxes upon profitable transactions.

More Top Best Cryptocurrency Markets To Explore

Bitcoin (BTC)

  • Market Cap: $816.4 billion

You will be surprised that pioneer cryptocurrency, Bitcoin, remains a powerhouse. It’s leveraging blockchain technology and proof of work for security. On top, Its staggering growth from $500 in May 2016 to $41,722 by December 2023 shows its enduring dominance.

U.S. Dollar Coin (USDC)

  • Market Cap: $24.2 billion

Another stablecoin, USDC, pegged to the U.S. dollar, facilitates global transactions, powered by Ethereum.

Cardano (ADA)

  • Market Cap: $21.1 billion

Noteworthy for early proof-of-stake adoption, Cardano expedites transactions while enabling smart contracts. Its measured growth from $0.02 in 2017 to $0.60 by December 2023 underscores its unique approach.

Avalanche (AVAX)

  • Market Cap: $14.4 billion

Recognized for swift transactions and low fees, Avalanche’s high total value locked signifies its popularity in decentralised finance.

Dogecoin (DOGE)

  • Market Cap: $13.7 billion

Originating as a joke in 2013, Dogecoin’s community-driven rise has propelled its price from $0.0002 in 2017 to $0.10 by December 2023, defying initial expectations.

Final Words

You are now aware that the cryptocurrency landscape of 23-24 shows the dynamic market with diverse offerings. From the stalwart Bitcoin to the versatile Ethereum and the stablecoin Tether.

Cryptocurrencies are all about revolutionising the way we handle money in the digital world. Each one has its own special purpose and they’re constantly changing and evolving. It’s really cool to see how they’re reshaping the future of finance.

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