The top 10 cryptocurrencies, some of which have achieved a return of more than 612,000% since their launch
The launch of thousands of cryptocurrencies has made investing in them seem like a maze in America.
1. Bitcoin
Market value: $1.4 trillion
Annual return: 165%
Created in 2009 by Satoshi Nakamoto, Bitcoin is the original cryptocurrency. As with most cryptocurrencies, Bitcoin runs on a blockchain, or ledger recording transactions distributed across a network of thousands of computers. Because additions to distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof-of-work, Bitcoin remains safe and secure from fraudsters.
The price of Bitcoin has risen dramatically as it has become a household name. In May 2016, you could buy one bitcoin for about $500. As of May 2024, the price of one bitcoin was approximately $69,901. This is a growth of 13880.2%.
2. Ethereum
Market value: $454.4 billion
Annual return: 109%
Ethereum, as both a cryptocurrency and a blockchain platform, is a favorite of software developers because of its potential applications, such as so-called smart contracts that are automatically executed when conditions are met and non-fungible tokens (NFTs).
Ethereum has also seen tremendous growth. In the period from April 2016 to the end of May 2024, its price increased from about $11 to about $3,783, an increase of 34,009%.
3. Tether
Market value: $111.3 billion
Annual return: 0%
Unlike some other forms of cryptocurrencies, Tether (USDT) is a stablecoin, meaning it is backed by fiat currencies such as the US dollar and the euro and virtually holds a value equal to one of these denominations.
In theory, this means that the value of Tether should be more consistent than other cryptocurrencies, and that it is favored by investors who are wary of the extreme volatility of other coins.
4. Binance coin
Market value: $90.3 billion
Annual return: 99%
Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest cryptocurrency exchanges in the world. Since its launch in 2017, the cryptocurrency has expanded beyond simply facilitating trades on the Binance exchange. Now, they can be used to trade, process payments, or even book travel arrangements. They can also be traded or exchanged for other forms of cryptocurrencies, such as Ethereum or Bitcoin.
The price of BNB in 2017 was only $0.10. By late May 2024, its price had risen to about $612, an increase of 612,136%.
5. Solana
Market value: $80.8 billion
Annual return: 809%
Developed to help power the uses of decentralized finance (DeFi), decentralized applications (DApps), and smart contracts, Solana operates on unique hybrid proof-of-stake and proof-of-date mechanisms to process transactions quickly and securely.
When it launched in 2020, the price of SOL started at $0.77. As of May 2024, its price is around $181.83, a gain of 23,250%.
6. Currency (USDC)
Market value: $33.2 billion
Annual return: 0%
Like Tether, USDC is a stablecoin, meaning it is backed by the US dollar and aims to trade at a coefficient of US$1 per USDC. USDC is powered by the Ethereum network, and you can use USD Coin to complete global transactions.
7. Rebel (XRP)
Market value: $30.0 billion
Annual return: 18%
Created by some of the founders of Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate the exchanges of various types of currencies, including fiat currencies and other major cryptocurrencies.
At the beginning of 2017, the price of XRP was $0.006. As of May 2024, its price reached $0.54, equivalent to an increase of 8,949%.
8. Dogecoin (DOGE)
Market value: $24.1 billion
Annual return: 129%
Dogecoin started out as a joke coin to mock cryptocurrencies in 2013 but quickly evolved into a prominent cryptocurrency thanks to societal acceptance. Unlike many other cryptocurrencies, there is no limit to the number of Dogecoin coins that can be created, leaving the coin vulnerable to depreciation as supply increases.
The price of Dogecoin in 2017 was $0.0002. By May 2024, its price reached $0.17, an increase of 83,353%.
9. TON Coin (TON)
Market value: $22.2 billion
Annual return
: 250%
Originally developed as a layer-one blockchain for Telegram's encrypted messaging platform, Toncoin was quickly abandoned before being acquired by the TON Foundation. The project was renamed "The Open Network" from its original name "Telegram Open Network", both referred to by the abbreviation: TON.
The currency allows users to buy, send and store money on the incredibly fast and environmentally friendly TON network.
10. Cardano (ADA)
Market value: $17.8 billion
Annual return: 36%
Somewhat later in the cryptocurrency space, Cardano (ADA) became known for its early embrace of proof-of-stake validation. This method speeds up transaction time and reduces energy use and environmental impact by removing the competitive and problem-solving aspect of verifying transactions in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which is supported by ADA, its native currency.
Cardano's ADA token has achieved relatively modest growth compared to other major cryptocurrencies. In 2017, the price of ADA was about $0.02. By May 2024, its price had risen to $0.47, an increase of 2,401%.
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