The cryptocurrency market has suffered a wipeout of $2.4 billion. The total trading volume of cryptocurrencies increased by 218 billion dollars in the last 24 hours. However, the overall market cap has plummeted to $2.07T, which is 17% lower than December 3, 2021. As a result, investors have been trading to secure profits and avoid a total loss. Listed below are the top cryptocurrencies to invest in today.
Bitcoin
Among the many cryptocurrencies that exist today, Bitcoin is the most popular one. It is used for peer-to-peer electronic transactions, and it can be traded for goods with merchants that accept it. Bitcoin helped create the cryptocurrency market, which is an ever-growing collection of digital assets. Its value can be sent anywhere in the world. Although there is no single digital currency that is “supreme,” it is the most widely used one.
The invention of Bitcoin and the underlying blockchain technology created an entire industry. Since then, there are now thousands of cryptocurrencies, blockchains, and solutions for different use cases. Bitcoin continues to dominate the market by its market capitalization and BTC/USD value. However, there have been some challenges in Bitcoin’s adoption. Its use cases have also become more widespread and diverse, and it is difficult to say whether it will last.
Cardano
Cardano has a unique process that makes it different from other cryptocurrencies. It also uses cutting-edge technology, and uses ADA as its native coin. Cardano was created by a nonprofit organization under the guidance of Charles Hoskinson, who co-founded Ethereum. It has undergone peer-review before launching, and the company has a great deal of momentum in the crypto market today. To learn more about Cardano, keep reading.
The first steps in the development of this protocol began in the year 2015. The coin was launched for public trading in October 2017, and initially traded for a few cents. By the beginning of 2018, it had reached more than $1 per coin. It briefly reached a market cap of $28 billion. But as the crypto market tightened, its value fell to around fifteen to twenty cents. Ultimately, it stayed within this price range until 2021.
Terra
According to some recent reports, Terra investors have lost a great deal of faith in the cryptocurrency. According to Luno, Terra has experienced a “massive loss of trust” from its investors. As a result, the cryptocurrency’s market cap is currently at a five-year low. This is in stark contrast to the recent bull run. However, the company isn’t giving up on its mission. Its mission is to help businesses and consumers move from fiat money to cryptocurrency-based transactions.
One reason for the recent correction in the Terra ecosystem is that the value of its assets has dipped significantly. The fall in value is partly due to the failure of the underlying Ethereum blockchain. However, a lack of stability in the Terra ecosystem makes the ecosystem questionable. One of the most important reasons for the high value of UST was the relationship between it and Luna. These two tokens were designed to absorb price volatility and drive demand for UST. Without a native stablecoin, the ecosystem will never be the same.
Uniswap
If you’re unfamiliar with Uniswap, it is the largest decentralized exchange that specializes in crypto tokens that are built on the Ethereum blockchain. Uniswap passed the $1 trillion milestone in May, and it’s predicted that it may soon surpass Coinbase in daily trading volume. Uniswap was launched as a way to address the liquidity issue for decentralized exchanges, and it has proven to be a successful one.
Uniswap is a decentralized Ethereum blockchain exchange that is a liquidity provider for the Ethereum network. The Uniswap protocol uses an automated market maker system to determine prices, and its goal is to promote trustless automated token swaps. The protocol is designed to be decentralized, but aims to make trading as easy as possible for users. This means that a token’s price can be calculated in real time using smart contracts, allowing investors and traders to trade at a known price.
Polygon
Since it entered the crypto market at the end of April, Polygon (MATIC) has seen dramatic price fluctuations. The price surged more than 1,800 percent in the first month, reaching $0.047 in May. The price then plummeted back down to $0.023 in the following two weeks, dropping all the way down to $0.01 by October. But in November, the cryptocurrency experienced another surge of growth, rising to $0.044 on December 9th.
This rise in popularity has come at a time when ethereum price aud have been struggling. While Polygon has seen price drops, it has held onto some of its key support levels. In fact, it has begun to climb again. Large-scale partnerships with Disney and Coca-Cola have helped boost its value. Moreover, further popularization of layer-2 scaling solutions has helped the currency regain some of its lost value. Therefore, it may be prudent to invest in Polygon now, before the price tumbles even more.
