Watch Out for the Top 10 Cryptocurrencies Available on Binance Exchange

The popularity digital currencies enjoy has surely made investors invest in cryptocurrencies

There is no doubt that cryptocurrencies are trending worldwide. It seems like ages when only a select range of investors was keen on investing in crypto. In present times, there is hardly any person who hasn't thought about investing in cryptocurrency. With differing degrees of utility, adoption, and promise, the cryptocurrency market has managed to garner attention from every corner of the globe. The attention and popularity that the digital currencies enjoy have surely made investors decipher as to which are the best cryptocurrencies to invest in. This article lists the top 10 cryptocurrencies that are available on the Binance exchange.

Bitcoin

Current price: US$41,888

Bitcoin is a decentralized cryptocurrency and is a peer-to-peer online currency. BTC runs on the blockchain, or a ledger logging transaction distributed across a network of thousands of computers. Because additions to the distributed ledger are verified through a cryptographic puzzle, Bitcoin uses the proof of work algorithm to keep the transactions safe and secure.

Ethereum

Current price: US$3,099

Ethereum rose to prominence after its introduction of smart contracts. The crypto is a favorite of program developers because of its potential applications, like smart contracts that automatically execute when conditions are met, along with its NFT capabilities. Ethereum experienced tremendous growth and volatility in the past couple of months, increasing more than 27,000% since its inception.

Tether

Current price: US$1.00

Tether is useful for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies. This creates liquidity for exchange platforms, creates no-cost exit strategies for investors, and adds flexibility and stability to investors' portfolios.

Binance Coin

Current price: US$420.60

Binance Coin is a product of the Binance exchange. Binance is one of the biggest cryptocurrency exchanges in terms of the trading volume. It supports more than 100 cryptocurrencies to trade. BNB coin is used to perform certain operations over the Binance exchange, such as exchange fees, withdrawal fees, and listing fees. The Binance team is providing a discount on fees if the user uses a BNB coin to pay the fees.

USD Coin

Current price: US$1.00

USD Coin is known as a stablecoin pegged to the US dollar. Cryptocurrencies like USD Coin provide confidence to crypto investors to be present in the volatile cryptocurrency market and earn profit in a slow and steady process. The tokens are ensured with ERC-20 smart contracts.

XRP

Current price: US$$0.75

XRP is one of the top cryptocurrencies to help crypto investors yield profit other than Bitcoin. It is a digital asset built for payments and can be sent directly without any central authority. It acts as the most reliable crypto with the potential to source liquidity on demand.

Solana

Current price: US$106.97

Solana is a highly functional open-source project that banks on blockchain technology's permissionless nature to provide DeFi solutions. The Solana protocol is designed to facilitate decentralized app creation. It aims to improve scalability by introducing a proof-of-history consensus, along with the underlying proof-of-stake consensus of the blockchain. Also, due to its innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike.

Terra

Current price: US$95.06

LUNA is the native token of the Terra blockchain ecosystem. LUNA is down in the last 24 hours but showing the least losses of major crypto – 0.06%. LUNA's price has been rocketing up this year and at the beginning of March was showing over 80% price increase in the previous seven days.

Cardano

Current price: US$0.95

Cardano is one of the top competitors of Ethereum, like Bitcoin, in this highly volatile cryptocurrency market as a proof-of-stake blockchain platform. This cryptocurrency combines cutting-edge technologies to offer unparalleled security and sustainability to DAapps. The token is designed to ensure crypto investors can participate in the network operation.

Avalanche

Current price: US$78.58

Avalanche is one of the popular cryptocurrencies that is emerging as the crypto with potential in 2022 and beyond. It helps to create a unified global financial market to trade digital currency in a seamless way. This crypto with potential is known for the proof-of-stake consensus algorithm in the development of Dapps.