- The cryptocurrency market features a broad array of options from Bitcoin to Tether, presenting a vast field for investment.
- Market capitalization, reflecting the total circulation value, guides the top 10 cryptocurrency investments.
- Significant growth observed in cryptocurrencies like Bitcoin and Ethereum showcases the market’s potential for substantial returns.
Starting with Bitcoin and Ethereum, and extending to Dogecoin and Tether, the cryptocurrency market is vast, hosting thousands of distinct cryptocurrencies. This abundance can seem daunting to newcomers in the crypto realm.
To guide you in navigating this expansive space, here are the top 10 cryptocurrencies to consider investing in, determined by their market capitalization, which reflects the total value of all coins presently in circulation.
Best Crypto To Buy Now
1. Bitcoin (BTC)
- Market cap: $1.3 trillion
- Year-over-year return: 130%
Created in 2009 by Satoshi Nakamoto, bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, bitcoin is kept secure and safe from fraudsters.
Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one bitcoin for about $500. As of Apr. 2, 2024, a single bitcoin’s price was around $64,861. That’s a growth of 12,872%.
2. Ethereum (ETH)
- Market cap: $392.4 billion
- Year-over-year return: 81%
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
Ethereum has also experienced tremendous growth. From April 2016 to the end of April 2024, its price went from about $11 to around $3,268, increasing 29,612%.
3. Tether (USDT)
- Market cap: $104.7 billion
- Year-over-year return: 0%
Unlike some other forms of cryptocurrency, Tether (USDT) is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.
4. Binance Coin (BNB)
- Market Capitalization: $82.1 billion
- Annual Return: 76%
- Summary: Binance Coin, introduced in 2017, is the native cryptocurrency of Binance, one of the most prominent crypto exchanges globally. Initially intended to support trading and fee payments within the Binance platform, its utility has significantly expanded. BNB is now used for various purposes, including trading, payment processing, and even booking travel. It’s also exchangeable for other cryptocurrencies like Ethereum and Bitcoin. From its initial price of $0.10 in 2017, BNB’s value skyrocketed to approximately $549 by late April 2024, marking a staggering growth of 549,000%.
5. Solana (SOL)
- Market Capitalization: $78.8 billion
- Annual Return: 768%
- Summary: Solana is a blockchain platform designed to support decentralized finance (DeFi), decentralized applications (DApps), and smart contracts. It employs a unique combination of proof-of-stake and proof-of-history consensus mechanisms to ensure fast and secure transaction processing. SOL, the native token of Solana, serves as the platform’s fuel. Starting at $0.77 in 2020, SOL’s price experienced a significant surge to $177.18 by late April 2024, resulting in a 22,911% increase.
6. U.S. Dollar Coin (USDC)
- Market Capitalization: $32.8 billion
- Annual Return: 0%
- Summary: USDC, like Tether, is a stablecoin anchored to the U.S. dollar, striving to maintain a one-to-one value ratio with the USD. Leveraging the Ethereum blockchain, USDC facilitates global transactions. As a stablecoin, it offers an alternative for investors looking for stability in the volatile cryptocurrency market.
7. XRP (XRP)
- Market cap: $32.0 billion
- Year-over-year return: 13%
Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.
At the beginning of 2017, the price of XRP was $0.006. As of Apr. 2, 2024, its price reached $0.58, equal to a rise of 9,603%.
8. Dogecoin (DOGE)
- Market cap: $26.0 billion
- Year-over-year return: 132%
Dogecoin was famously started as a joke in 2013 but rapidly evolved into a prominent cryptocurrency thanks to a dedicated community and creative memes. Unlike many other cryptos, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.
Dogecoin’s price in 2017 was $0.0002. By April 2024, its price was at $0.18, up 90,404%.
9. Cardano (ADA)
- Market cap: $20.6 billion
- Year-over-year return: 46%
Somewhat later to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which ADA, its native coin, powers.
Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Apr. 2, 2024, its price was $0.58. This is an increase of 2,788%.
10. Avalanche (AVAX)
- Market cap: $17.5 billion
- Year-over-year return: 169%
Avalanche delivers two important features: fast transaction speeds and low transaction fees. AVAX also has a healthy total value locked (TVL) or amount of money deposited in decentralized finance. TVL is the total value of crypto assets deposited in a decentralized finance (DeFi) protocol, such as staking, lending, or liquidity pools.
A high TVL indicates the popularity of a protocol and the adaption rate of a particular cryptocurrency. Avalanche’s price today is $46.
Selecting the Best Cryptocurrency for Investment
Deciding on the ideal cryptocurrency for investment necessitates aligning with your personal objectives, investment duration, and tolerance for risk, similar to any investment decision. It’s also crucial to conduct thorough research to ensure the legitimacy and security of the cryptocurrency project you’re considering.
When assessing a cryptocurrency, investors typically take into account:
- Market Capitalization: A measure of the total market value of the crypto’s circulating supply.
- Liquidity: The ease with which the cryptocurrency can be bought or sold in the market without affecting its price significantly.
- Security: The robustness of the cryptocurrency’s infrastructure against fraud and hacking.
- Use Case: The practical applications and utility of the cryptocurrency in real-world scenarios.
