Top Cryptocurrencies That Performed Well In 2021

Top Cryptocurrencies That Performed Well In 2021

There are thousands of different cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether, making it difficult to get started in the world of crypto. As interest in cryptocurrency grows, it is regaining appeal. As the market saw a significant gain in the first half of this year, the globe is going crazy about cryptocurrencies, blockchain technology, and Decentralized Finance (DeFi).

As a result of the mania, new and young cryptocurrencies have risen to prominence. In the first quarter of 2021, coins like Bitcoin, Ethereum, Cardano, Dogecoin, and Tether dominated the headlines and became extremely popular. ChainTechSource brings you the top seven cryptocurrencies by market capitalization, or the total worth of all coins currently in circulation, to help you gain your bearings. ●

Bitcoin (BTC) - Market cap: Over $1.17 Trillion:

Bitcoin (BTC) is the first cryptocurrency, having been created in 2009 under the pseudonym Satoshi Nakamoto. BTC, like most cryptocurrencies, is based on a blockchain, which is a distributed ledger that logs transactions across a network of thousands of computers.

Bitcoin is maintained secure and safe from fraudsters because updates to the distributed ledgers must be confirmed by solving a cryptographic problem, a process known as proof of work.

Bitcoin's value has soared as it has grown in popularity. Five years ago, a Bitcoin could be

purchased for around $500. The price of a single Bitcoin was above $62,000 on October 29, 2021. This equates to a 12,300% increase. ●

Ethereum (ETH) - Market cap: Over $520 Billion:

Ethereum is a favorite of programmers because of its potential applications, such as smart contracts that run automatically when conditions are satisfied and non-fungible tokens.

Ethereum is both a cryptocurrency and a blockchain platform (NFTs). Ethereum has also exploded in popularity. Its value increased about 40,000 percent in just over five years, from around $11 to over $4,400. ●

Binance Coin (BNB) - Market cap: Over $88 Billion:

Binance Coin is a cryptocurrency that may be used to trade and pay fees on Binance, one of the world's largest cryptocurrency exchanges. Binance Coin has grown beyond simply conducting deals on Binance's exchange platform since its introduction in 2017.

It can now be used for trade, payment processing, and even making travel reservations. It can also be exchanged or traded for other cryptocurrencies like Ethereum or Bitcoin. It was only $0.10 in 2017; on October 29, 2021, it had climbed to approximately $530, a gain of almost 530,000 percent. ●

Tether (USDT) - Market cap: Over $70 Billion:

Tether is a stable coin, which means it is backed by fiat currencies such as the US dollar and the Euro and has a value that is theoretically equal to one of those denominations. Tether's value is intended to be more consistent than other cryptocurrencies, which is why it's appreciated by investors who are frightened of other coins' excessive volatility. ●

Cardano (ADA) - Market cap: Over $66 Billion:

Cardano is renowned for being one of the first crypto projects that use proof-of-stake validation.

By removing the competitive, problem-solving part of transaction verification found in platforms like Bitcoin, this solution reduces transaction time, energy consumption, and environmental effect.

Cardano functions similarly to Ethereum in that it uses ADA, its native coin, to enable smart contracts and decentralized apps. In comparison to other prominent crypto coins, Cardano's ADA token has grown slowly. The price of ADA in 2017 was $0.02. Its current price is $2.01 as of October 29, 2021. This represents an almost 10,000% gain. ●

Solana (SOL) - Market cap: Over $60 billion:

Solana is a cryptocurrency that was created to fuel Decentralized Finance (DeFi), Decentralized Apps (DApps), and smart contracts. It uses a hybrid proof-of-stake and proof-of-history mechanism to conduct transactions rapidly and securely. The platform is powered by SOL, Solana's native cryptocurrency. SOL's pricing began at $0.77 when it was launched in 2020.

It was about $201.91 on Oct. 29, 2021, a gain of more than 26,000 percent. ●

Polkadot (DOT) - Market cap: Over $43 billion:

Polkadot and its namesake crypto intend to unify them by building a cryptocurrency network that connects the multiple blockchains so they may work together. Since Polkadot's inception in 2020, this integration has sparked significant growth and may transform how cryptocurrencies are maintained. Its price increased by almost 1,400 percent from $2.93 to $44.19 between September 2020 and October 29, 2021.

Blockchain-based cryptocurrencies enable individuals to conduct peer-to-peer financial transactions or enter into contracts because they are decentralized platforms. In either situation, a trustworthy third-party intermediary such as a bank, monetary authority, court, or judge is unnecessary. This has the potential to destabilize the current financial order while also democratizing finance. With fresh developments and a collective market valuation of roughly $2 trillion, the cryptocurrency field has evolved dramatically in the last decade.