Are you thinking about investing in crypto? You don’t know which one to decide on? If you are curious which cryptocurrency is the most popular and what it really depends on – read our article in which we will present a brief overview of the most known digital currencies.
What factors affect the popularity of crypto?
Definitely one of the most important factors that affect the popularity of cryptocurrencies is investor confidence. This is because the crypto price is created by user demand. Another important issue is the possibilities of using a given cryptocurrency. Digital assets were created to ensure fast, cheap and secure internet transactions. If a given digital currency has more users who support it, its uses are greater.
The interest of the media, which can create the image of a given cryptocurrency, is also important. Media messages can affect investors’ attitudes, and this also affects the crypto market. Information about the higher value of a given digital currency makes investors’ interest greater, which results in increased demand and popularity.
Undeniably, BTC is still the most popular crypto in the world. What makes Bitcoin different from other digital assets? First of all, it is the first cryptocurrency in the world and has revolutionized the financial market. The use of blockchain technology and the opportunities offered by BTC means that until now this digital currency is a leader among crypto enthusiasts. In addition, the high value of this asset also arouses the interest of veterans who operate in traditional markets.
Apart from the United States, Bitcoin is also a very popular digital asset in Romania, among others. Research has shown that about 12% of the country’s consumers have some kind of crypto, with BTC being by far the most popular. What does this result from? Romania is home to many international companies operating in the IT industry. Additionally, there are many independent programmers in Romania. Close ties of this country with the technology industry make the citizens take advantage of cryptocurrency possibilities.
Currently, BTC price is $6.931. However, there are over 18 million coins in circulation. It is worth adding that the total number of coins is 21 million. So about 3 million BTC are left for mining. In general, around 1,800 Bitcoin coins are mined daily. The market capitalization of this digital currency alone is $105,848,870,055.05.
ETH is definitely the most promising altcoin. What makes Ether different? This cryptocurrency is linked to a popular platform designed to create decentralized applications. In addition, all events related to Ethereum directly affect ETH. Therefore, it is worth taking this into account when investing.
As we wrote earlier, the popularity of the Ether digital currency depends on the Ethereum platform and the blockchain technology used in it, which can be used in other areas. Ethereum’s functionality also relies on smart contracts that are very innovative. These factors can help many other industries. One of them is the area of education. In the education market, false diplomas and other documents confirming qualifications often occur. Organizations spend a very large amount of money on checking such certificates by special companies. A good solution might be to use Ethereum blockchain technology to create and verify such documents.
It’s definitely a good way to stop counterfeiters and reduce the costs of verifying certificates. This application can also be used in the real estate and art industries.
Currently, the price of one coin of Ether is $174. The market capitalization of this crypto is $23,661,887,633.50. Over 100,000,000 million coins of this digital currency are in circulation. ETH is certainly a crypto, which is worthwhile to observe and keep in mind while investing. On the CoinCasso platform you can buy your first ETH. Therefore, set up an account and operate in the world of crypto today.
The name Ripple itself does not refer to a cryptocurrency, but to a company that is involved in building an exchange network. It is also a real-time gross settlement system. Additionally, the platform is an Open Source protocol – this makes transactions faster and cheaper.
XRP is most popular in the USA, especially in states such as California, Kentucky, South Carolina and IOWA. XRP is used to provide liquidity for transfers made using the Ripple payment service. This option is gaining in popularity and its client base is growing. It is also worth mentioning that XRP has started a pilot project with the Bank of America. For the time being, it is not known how the institution will use this crypto, but the work is already underway since 2016. In this situation, we can see that traditional markets somehow want to combine their activities with XRP.
It should also be added that many people often confuse Ripple with their crypto one – XRP. However, using these two terms interchangeably is wrong and should be avoided. The current XRP exchange rate is $0.19, while the market capitalization of this digital currency is based on $8.861.696.876.90. The highest price XRP has reached is $3.01.
LTC is one of the oldest and most popular crypto. Very interesting is the fact that Litecoin was described as BTC’s younger brother. Why such a comparison? LTC uses Bitcoin’s source code in its operation. Although in fact they are two different digital currencies, they have several features in common. It is also worth adding that Litecoin is often called digital silver. It is also a reference to the similarity with BTC, which is often referred to as digital gold.
The current price of LTC is $40.97. The market capitalization of this cryptocurrency is $2,642,014,933.82. The biggest price that LTC has reached is $302.56.
EOS is a platform whose main task is to create decentralized applications. Its functionality is very similar to that of Ethereum, although its supporters believe that it can outperform blockchain ETH. The main goal of EOS is to become a simple platform for everyday use. It is to enable thousands of transactions per second.
The current value of EOS is $2.54. Additionally, its market capitalization is $2,344,284,926,44. The highest price this crypto has ever achieved is $17.14.