When we hear the term cryptocurrency, Bitcoin’s the first thing that crosses our mind; Bitcoins coin has been the king of cryptocurrency ever since its launch. This coin paved the way for the development of other cryptos, because of which every cryptocurrency other than Bitcoin is tagged as Altcoins [alternate coins]. Even though the Bitcoin market is the biggest cryptocurrency hit, several other crypto coins are as popular and equally large as Bitcoin. This article will take you through the most traded crypto coins this year.
Let’s begin with Bitcoin.
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Bitcoin
As mentioned earlier, Bitcoin is the widely used coin in the crypto market whose current market capital ranges from $829 billion. There is no surprise that Bitcoin is still the most famous crypto across the globe. The major reason why people widely accept this coin is that it has been around for a very long time and is the first-ever cryptocurrency. There is no indication of Bitcoin fading to obscurity any time soon.
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SAND
According to the sources, sand usdt has been performing well for the past 12 months and is one of the most traded cryptocurrencies in the market. Experts have predicted an appreciable price increase in the coming five years. This crypto is ideal for those who are looking for a cryptocurrency that offers impressive returns. SAND is a great investment option in 2022.
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Tether
Tether is the most popular crypto coin, which falls under the Altcoin category. Tether offers high price stability for its users and is backed by US dollars. The Tether can be attached to fiat currencies effortlessly. The primary objective behind the development of this crypto is to provide a fixed rate transaction to the crypto traders involved in the extremely volatile crypto market. In 2022, Tether is ranked as the highest traded cryptocurrency, which surpassed both Bitcoins and Ethereum.
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Binance coin
Binance cryptocurrencies are issued by Binance, which is one of the biggest crypto exchanges across the world. Binance coins were initially launched as a token that was developed to pay for discounted trades. But today, Binance coins are used to purchase goods and services and work efficiently for payments.
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XRP
XRP has a market capitalization of 37 billion dollars, which came to light in 2012 and was popularly known as Ripple. XRP allows the users to use a different mode of payment in real-world currencies. Ripple is a highly efficient crypto that facilitates cross-border transactions and flows a trustless mechanism to carry out the payments.
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Terra
Terra is a platform whose native coin is known as LUNA, whose market capitalization is the same as XRP. Terra is a well-known platform among crypto traders as it helps backstop a large number of stablecoins supported by fiat currencies like the dollar or Euro. Another major benefit of Tether is that; it enables price stabilization of different stablecoins using multiple technical mechanisms. This platform also supports smart contracts.
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Cardano
Cardano is the platform that has ADA has its native cryptocurrency, which was developed by the co-founder of Ethereum. Similar to any other advanced exchange platform, Cardano also supports smart contracts, which facilitate identity management. They have a market capital of 37 billion dollars.
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Avalanche
Avalanche has a market capitalization of 20 billion dollars. It is a fast contract-based platform whose primary aim is to develop decentralized apps while at the same time enabling the creation of the custom blockchain. The users use its native token, named AVAX, to facilitate transactions. You can buy avalanche on any crypto exchange.
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Polkadot
Polkadot is a new cryptocurrency that was launched in May 2020. Polkadot [DOT. What makes Polkadot unique is that this digital asset connects blockchain technology with several other cryptocurrencies. An Ethereum co-founder is one of the major investors of Polkadot, and a few industry watchers have estimated that Polkadot will dethrone Ethereum in a few years.
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Dogecoin [DOGE]
The name Dogecoin was derived from an internet meme and was introduced as a joke in the crypto world, which slowly took up the pace and evolved as one of the most traded coins. Dogecoin has an unlimited issuance which makes it different from other cryptocurrencies. These cryptocurrencies can be effectively used for sending money or making payments.
