On the cryptocurrency side, the PCE news failed to save Bitcoin from its recent decline. It only briefly stimulated Bitcoin to hit a high of $59,944.07, and then selling pressure emerged, and it plummeted to a low of $57,701, a drop of 3.7% in 4 hours. At the time of writing, Bitcoin rebounded to $59,194, a slight drop of 1.01% in the past 24 hours.
Bitcoin has been trading in the lower half of the $55,724 to $73,777 range for the past few days, but rather than panicking, whale holders are using the opportunity to accumulate more Bitcoin.
Best Cryptocurrencies for Beginners to Invest in!
Ethereum (ETH): The backbone of decentralized applications
Current price: $2,583.43
Market value: $310.3 billion
Computer scientist Vitalik Buterin designed the Ethereum network in 2015. The Ethereum platform provides a decentralized blockchain, Ether (ETH), for developing and executing smart contracts and DApps. Several network upgrades have also boosted the platform's value, and it remains the most widely used development platform in the world. Its wide availability and ease of use make it an ideal choice for those who want to get into cryptocurrency.
Tether: Stability in a volatile market
Current Price: $1.00
Market value: 118.2 billion
Tether (USDT) was launched in 2014 with a unique selling feature; it offers the advantages of both digital and traditional currencies. As the first company to convert ordinary currency into virtual currency, it also helps beginners in dealing with cryptocurrencies by allowing them to make geographical payments with low risk. Its importance clearly demonstrates its ability to integrate traditional finance and Internet finance.
BNB: A key player in the cryptocurrency ecosystem
Current price: $543.16
Market value: $72.4 billion
Binance Coin (BNB) is the utility token of the Binance ecosystem, which was launched in 2017 and is very important for the leader of the cryptocurrency exchange. However, BNB is a token that has other decentralized applications under the Binance ecosystem and its uses go beyond the utility of the Binance trading platform. BNB is suitable for beginners because it has multiple uses that can promote growth, which makes it attractive in the cryptocurrency market.
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Solana: A fast-growing blockchain innovator
Current price: $146.27
Market value: $68.4 billion
The Solana blockchain system was officially released in 2020, combining Proof of History (PoH) with Proof of Stake (PoS) structures to form a hybrid consensus model. This technology facilitates cheap and fast transactions, creating conditions for the Solana blockchain to be attractive in DeFi projects. Focusing on these two factors creates a favorable environment for beginners or expert traders to invest in Solana.
XRP: Redefining speed and efficiency
Current price: $0.5734
Market value: $32.2 billion
XRP was launched in 2021, enhancing the decentralized blockchain with cost-effectiveness and technological focus of 1500 low-cost transactions per second. In addition, it is a carbon-neutral platform, making it environmentally friendly in the crypto industry. Traditional functions such as decentralized exchanges are applied in the XRP ledger, enhancing its market competitiveness and tapping new resources in the crypto world among potential investors.
