The cryptocurrency scene is one that often changes very quickly due to the increase and decrease in the popularity of specific coins. However, the best cryptos regularly hold their position, and that has been the case so far. So, let’s take a closer look at which coins have made it to the top this year.
You can’t kick off a top cryptocurrency list without Bitcoin being at the top, in our opinion. Bitcoin has been the number one crypto around since the scene began, and as it’s the first to support a decentralized peer-to-peer network, it will continue to be the market leader. Many people my believe Bitcoin has reached the peak of its powers, but that couldn’t be further from the truth, with the world’s first cryptocurrency still having plenty of potential to realize. This is undoubtedly the case for experienced operators such as Luno, whose Bitcoin wallet is used by more than 3 million people worldwide and sees no slow down with regards to new customers.
Ethereum regularly finds itself playing second fiddle to Bitcoin, but that’s not a bad place to be, and other cryptos in the scene will certainly be envious. Ethereum’s aim from the very beginning was to offer more than just a financial exchange, and this is what has led it to be consistently successful over the years. Ethereum is, in effect, an ecosystem that everyone can make use of, and the smart contract system has become integral for many businesses and individuals around the world.
Litecoin is the cryptocurrency designed to offer an alternative to Bitcoin, and this has helped it to become popular, especially from 2017 onwards. Litecoin took all the essential principles from Bitcoin but aimed to do everything quicker, something which it achieved. The speed of Bitcoin transaction processing has perhaps been its biggest turnoff. And as Litecoin is four times faster, processing blocks in just two and a half minutes, this gives it a significant edge over its older cousin. Litecoin has enjoyed a fantastic year so far and is looking to cement its place above the next crypto on our list.
Ripple took a different route to the top compared to its rivals, and its slow and steady growth has paid dividends in the long run. Ripple has linked up with banking and financial institutions thanks to it being able to facilitate cross-border payments quickly. With the likes of American Express, Santander, and JP Morgan on board, the only way is up for Ripple right now. This year has seen this crypto locked in a battle with Litecoin to take the seat behind Ethereum on the top cryptocurrencies list, and it will be interesting to see which wins out, as both coins offer something slightly different to the rest.
The four cryptocurrencies listed above are the ones that currently dominate the market. Bitcoin and Ethereum are streets ahead of the competition in many respects. Plus, with the news that Ethereum 2.0 is just around the corner, there could finally be a coin to knock Bitcoin off its perch. The rivalry between Litecoin and Ripple shows that there’s still plenty to play for where market share is concerned.
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