29 July 2020
What Are the Most Popular Cryptocurrencies to Trade On The Exchanges
Cryptocurrencies, especially Bitcoin, are still on the rise.
Today, we will take a look at the most popular cryptocurrencies trading on the Crypto exchanges.
1. Bitcoin (BTC)
The birth of Bitcoin was announced by Satoshi Nalamoto on the 1st November 2008. This news was published in the mailing list “The Cryptography Mailing List”. The official launch of the Bitcoin cryptocurrency took place on January 3, 2009, after creating the first Bitcoin network block. On October 5, 2009, the value of Bitcoin was estimated to be around 0.001 USD. Today, 1 BTC is worth around $11,800 USD. Its market cap currently exceeds 165.86 billion dollars.
2. Ethereum (ETH)
Created on July 20, 2015, Ethereum is considered to be the second top cryptocurrency on the market in terms of cap. At present, its market cap is approximately 20.22 billion dollars. As for the price of ETH, it is traded at around $400 USD at the time of writing this article. Ethereum’s network works almost the same way as Bitcoin’s. This is because it uses blockchain technology to offer security and management for the Ether database where transaction records are stored.
3. Ripple (XRP)
The encrypted currency Ripple ranks 3rd in the ranking of the 10 best cryptocurrencies. In 2012, XRP was launched by Ryan Fugger, David Schwartz, and Arthur Britto. Despite a low price of 0.25 dollars, the XRP currently has a market capitalization exceeding 10.84 billion dollars. Also, Ripple is a Real-Time Gross Settlement System (RBTR) that was developed by Ripple Labs. Currently, this cryptocurrency is already used by over 75 financial institutions around the world.
4. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a clone of an old version of Bitcoin on which the team of developers modified certain parameters, in particular the size of the blocks. The idea is to be able to accommodate more transactions in the parent blockchain without resorting to “off-chain” solutions such as the Lightning Network deployed on Bitcoin. However, the project lacks traction as most of the Bitcoin community has never supported this vision. Bitcoin Cash is mainly seen today as a tool for speculation in the markets.
5. Litecoin (LTC)
Charles Lee is the creator of the Litecoin cryptocurrency, and his invention was launched on the decentralized virtual currency market on October 7, 2011. At this time, the LTC has reached a market capitalization of more than 4.27 billion dollars. Unfortunately, its price has been in free fall for the past few days (+ 3.74%). Currently, 1 LTC is worth around $66.80, and its value continues to fall.
6. Chainlink (LINK)
ChainLink is the oldest of the projects aimed at providing an oracle-like service. When Ethereum was created in 2015, it revolutionized what blockchain could offer as a solution for companies. Before that, cryptocurrencies could only carry out alternative exchange of value allowing you to remove intermediaries from transactions. With ChainLink, users of smart contracts can use the network of oracles set up by the company to retrieve information known as “off-chain”, from outside the network.
Eos is a protocol allowing the creation of decentralized applications using an improved blockchain. It is considered to be a cryptocurrency competing with Ethereum because its technological process allows greater scalability. In fact, it can easily adapt to greater demand. 1 billion EOS tokens have been created and already more than 620 million have been distributed.