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Top 5 Cryptocurrencies In January 2022

Photo of Mila Mila Follow on Twitter January 16, 2022
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Top 5 Cryptocurrencies In January 2022

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1. Bitcoin (BTC)

Bitcoin is a form of digital currency that is created and held electronically on a computer. Bitcoins are not physical money like dollars nor are they recognized as an exchangeable currency by central banks or monetary authorities.

Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy a Bitcoin for about $500. As of Jan. 17, 2022, a single Bitcoin’s price was over $43,000. That’s growth of about 9,100%.

2. Ethereum (ETH)

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).

3. Binance Coin (BNB)

The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world.

Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.

4. Solana (SOL)

Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform.

5. Cardano (ADA)

 

Somewhat later to the crypto scene, Cardano 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 present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin.

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Photo of Mila Mila Follow on Twitter January 16, 2022
868 1 minute read
Photo of Mila

Mila

Mila doesn’t only cover Blockchain and crypto, but she does focus the bulk of her writing efforts on this emerging technology and how it is impacting not just US markets, but global markets too. From the British Virgin Islands to China, her reporting leaves no global crypto stone unturned. Her tenacity and candid opinions on the impacts of crypto and Blockchain have made her a leading voice in the industry and a top source of truth to the curious masses.

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