Mon. Oct 3rd, 2022

Ripple is one of the most popular cryptocurrencies on the market today. You can use it to pay with ether, bitcoin, or any other currency you wish. Ripple has a small internal commission, which is one of the reasons it made the top five. Next on the list is Bitcoin Cash. Both are rapidly growing in popularity, and their flexibility is what makes them stand out from the rest. Read on to discover more about them.

Dogecoin

The first “memecoin,” Dogecoin has been making waves since it launched in December 2013. The currency uses the Shiba Inu avatar and is accepted by major companies. The coin’s price jumped 300 percent in 2021, and it’s still going strong. Elon Musk and Netflix’s “Tiger King” star Carole Baskin have also been supporting the cryptocurrency. The cryptocurrency’s price will likely continue to rise.

There are a number of reasons why Dogecoin is among the top 5 cryptocurrencies. Its playful mascot has attracted a large following, and its billionaire backers have endorsed the cryptocurrency. It was developed in 2013 as a spoof of Bitcoin. Dogecoin enthusiasts refer to themselves as the “Dogecoin Army,” and the price of the cryptocurrency soared in the beginning. Later in the year, it plunged to 14 cents.

Litecoin

Unlike other cryptocurrencies, Litecoin processes transactions at four times the speed of Bitcoin, and costs just 2.6 cents per transaction. Its network has also improved since Bitcoin’s, and a user will lose less crypto every time they initiate or receive a transfer. This is a big plus for users who rely on cryptocurrency as a secure way to send and receive money. In addition, Litecoin’s limited supply prevents inflation.

Litecoin was created in 2011 and quickly became the second most popular cryptocurrency, following Bitcoin. It is closely related to the Bitcoin network, and shares much of the original codebase. The intention of its development was to make the transaction process faster and more frictionless. Unlike Bitcoin, Litecoin also does not offer smart contracts, and it is limited to transaction processing. But, it is still one of the top 5 cryptocurrencies, so it’s hard to ignore.

Ripple

While there are many cryptocurrencies on the market, Ripple is perhaps the most well-known. It holds third place in the CMC with a market cap of $10 billion. Its low price is due to the large amount of coins in circulation, which is currently around 45 billion. While it has been around for many years, Ripple continues to gain followers and believers. The main benefit to Ripple is that it offers a convenient way to make cross-border transactions.

However, the growth potential of Ripple is limited, as the company’s CEO Brad Garlinghouse owns about one-third of the XRP token. This centralized ownership may be seen by some purists as a con, but Ripple was developed with banks in mind, so its primary purpose is to revolutionize ordinary people’s lives. In other words, Ripple is not a scam.

XRP

Ripple has been around for a while, but it’s only recently become popular as a cryptocurrency for its decentralized exchange. Currently, there are about a billion XRP coins in circulation, and the company controls about 60% of these. Ripple has placed 55 billion of these coins in an escrow account and can release one billion per month. Although it has not released large amounts of its coins to the market regularly, it’s still growing in popularity. And unlike many other cryptocurrencies, Ripple does not involve sending money, but merely transferring a promise to pay.

Ripple’s XRP coin began its bullish growth at the end of 2020, and it was expected to continue in 2021. But a SEC lawsuit halted its adoption by many platforms. Many XRP holders panicked and sold their coins. While XRP’s price temporarily dropped at the start of 2021, it bounced back when the crypto market shot to the moon.

Terra

While Terra (LUNA) is not new to the crypto world, the recent spike in value has seen its market cap soar. The coin has also beaten out other popular cryptocurrencies like Cardano (ADA) and Avalanche (AVAX) in recent weeks. Let’s take a closer look at Terra’s market cap and its growth trajectory. In the coming weeks, we’ll look at what makes this cryptocurrency stand out.

The underlying technology behind Terra is decentralized. This allows it to be scalable. While ether is the current reserve currency for the Terra network, avalanche is a more scalable option. It can handle 6,500 transactions per second and is increasingly popular among Ethereum projects. In early December 2018, avalanche beat ether as the reserve currency for the Terra network. This is important because the organization backing Terra aims to acquire $100 million of avalanche.