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The cryptocurrency prices have been fluctuating lately, with multiple significant tokens like Ethereum (ETH) and Bitcoin (BTC) reaching all-time high before hitting the bear markets. Several factors have led to the downturn: the emergence of the omicron variant, the waves of new cryptocurrency bills in India, and the Federal Reserve's willingness to raise interest rates to combat inflation. Digital assets can be the riskiest and most promising growth opportunities. Here's a list of the nine best cryptocurrencies to invest in before the end of 2021.
Market cap: Over $1.08 trillion
Initially developed by Satoshi Nakamoto in 2009, based on a decentralized ledger of transactions, Bitcoin transactions are secured by cryptographic algorithms packaged in batches (called "blocks"). Five years ago, the price of one Bitcoin was $500, which has now touched over $57,000 with a growth of 11,400%.
Market cap: Over $557 billion
Ethereum is a cryptocurrency and a decentralized blockchain system. First emerged in 2017, Ethereum is favored by program developers because of its applications like smart contracts and non-fungible tokens (NFTs). With a growth rate of 42,000%, ETH prices have gone up from $11 to over $4,700.
Market cap: Over $104 billion
Based on daily trading volume, BNB is the biggest cryptocurrency exchange. Launched in 2017, Binance can be used for payment processing, trading and even traveling. Started with a price just $0.10, the current price of BNB around $628.
Market cap: Over $73 billion
Launched in 2014, Tether is a stable value cryptocurrency whose price remains close to the U.S. dollar. The purpose of USDT is to provide unrestricted transactions without an intermediary combined with a stable value of the U.S. dollar.
Market cap: Over $64 billion
Solana is an open-source project that promises to provide Decentralized finance (DeFi) solutions, smart contracts and DApps—officially launched in 2020 with a $0.77 today; Solana has reached up to $213.42 with a raise of around 26,500%.
Market cap: Over $52 billion
Cardano is a proof-of-stake blockchain platform that accelerates transaction time by removing the problem-solving aspect of transaction verification. Like Ethereum, Cardano enables smart contracts and DApps powered by ADA. The price of ADA in 2017 was $0.02, which has now reached up to $1.57.
Market cap: Over $47 billion
Created in 2017, XRP can be used on the Ripple network to facilitate exchanges in different currencies. From its initial price of $0.006, currently, XRP costs around $1.00.
Market cap: Over $38 billion
USDC, backed by U.S. dollars, is a stable coin like Tether. USDP WAS issued in 2018, regulated by registered financial institutions.
Market cap: Over $28 billion
Gaining momentum as a meme coin, Dogecoin has been a hot topic lately. Unlike many other cryptocurrencies, there is no limit to the supply of Dogecoin, which makes it susceptible to devaluation with an increase in supply. Its price had increased to $0.22 from $0.0002 in 2017.