Unlike traditional currencies, cryptocurrencies are decentralized digital currencies exchanged peer-to-peer on the encrypted network called bockchain. They represent one of the best investments of the moment and come in a multitude of varieties. So, before making an investment, you need to know which currency to choose to achieve optimal profitability. Discover then in the following lines some of the best cryptocurrencies on the market. Bitcoin (BTC): the most used currency
The world’s leading cryptocurrency, Bitcoin, is coming out of a difficult period, like the rest of the market. The blue coin started the month of April 2022 above $45,500 and ended up at $37,714.88. Despite this decline, bitcoin remains the best currency for making daily transactions in the world of cryptocurrencies. It has unique features that make it superior.
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Bitcoin represents the safest option for digital transactions. It is based on cryptographic or mathematical algorithms that are encrypted. The coins of this digital currency are available at bitcoin ATMs and for online exchanges. They can be used to make online purchases or transfer money. In addition, the rate of this currency influences all the others. Ether (ETH): the future revolution
The native cryptocurrency of the Ethereum blockchain is called Ether, or ETH. After hitting an all-time high of $4,891.70 in November 2020, the world’s second most dominant cryptocurrency has returned to earth and is currently hovering around $3,000.
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The most widely used blockchain in the world, Ethereum is the pioneer of decentralized finance, or DeFi. It is a new disruptive financial system that eliminates traditional intermediaries such as banks, brokers and centralized exchanges.
Although a number of new rivals are attacking Ethereum’s leading position, Ether remains one of the best cryptocurrencies to buy right now. This is due not only to the wide adoption of the network, but also to the upcoming event known as “Fusion”. Formerly known as Ethereum 2.0, “Fusion” is expected to be launched in the second half of 2022.Solana (SOL): a growing market conquest
Among the best cryptocurrencies on altcoins, Solana, is a promising young company that has managed to establish itself in the world of altcoins. It claims a significant market share and competes with Ethereum. Unlike the many currencies that are built on the dominant Ethereum network, Solana has its own blockchain and uses the native SOL token.
While BTC debuted in 2009 and ETH in 2015, SOL is just a baby, having started in 2020. The following year, Solana took the world by storm, growing from around $1.50 to over $170 by the end of 2021. Things have calmed down considerably since then, with SOL being under $90 in early May 2022.
Yet Solana continues to capture market share. SOL grew from 1.9% of the market to 2.8% in 2022. Its low transaction fees are expected to continue to debauch Ethereum users until the merger is complete. Terra (LUNA): stability during market fluctuations
One of the best cryptocurrencies to buy now is LUNA, the native token of the Terra blockchain protocol. The value of this cryptocurrency varies depending on the growing popularity of stablecoins. The latter are cryptocurrencies whose price is linked to a given fiat currency. They are a growing part of the DeFi ecosystem. Investors lend and borrow stablecoins in large pools in order to invest in other opportunities.
The value of the LUNA token is directly related to the adoption of stable currencies based on Terra, such as UST, which is pegged to the US dollar. When ust demand increases, LUNA tokens are burned. This increases the value of each token, while other LUNA tokens are created when people sell USTs. Although LUNA fell in April 2022 along with the rest of the market, the coin has remained roughly stable since the beginning of the year. This stability allows it to dramatically outperform the more than 20% decline in the global crypto market.
