Top promising tokens and cryptocurrencies

The modern financial market contains a huge number of digital assets that are dynamically involved in many areas of the life of an ordinary person. Digital money is in great demand among users, since it is available to absolutely everyone, and not just to large financial corporations. They have a number of significant advantages that fully justify their demand in the market. For example, in order to use them, you need to have access to the Internet and you can make exchange transactions at absolutely any time and in any place convenient for you. Thanks to blockchain algorithms that create some ciphers inside cryptocurrencies and tokens, customers' personal information remains as secure as possible and inaccessible to third parties. They do not have dependence on national banks like traditional financial institutions and systems and much more.

The difference between a cryptocurrency and a token

As for the difference between a cryptocurrency and a token, everything is very simple here. Unlike cryptocurrencies, tokens can be created on the blockchain of another project, they do not have to create their own personal blockchain. Also, tokens have much more usage variations than cryptos. Tokens can be used to buy out a particle in a company and become a shareholder, they can be an analogue of a partnership share on stock exchanges and more.

Types of cryptocurrencies

The entire group of cryptocurrencies can be divided into three types:

1. Bitcoin is a cryptocurrency that laid the foundation for digital assets around the world and created a new industry in the financial sector.
2. Altcoins. After the successful development of bitcoin, new cryptocurrencies began to appear, which are called altcoins.
3. Stablecoins - these are essentially the same altcoins, only the exchange rate of these is backed by the usual fiat currencies (dollar), real gold, or any other cryptocurrencies in order to reduce price volatility. The most popular stablecoins are Tether and Binance USD.

What are the types of tokens?

1. Utility token. They are also called altcoins. They can act as a currency for games, which can then be exchanged for different goodies. One of the most popular altcoins can be considered a project that is an analogue of Uber, which is used to pay for travel - the TrafficX service.
2. Equity token. These tokens are most often used to attract investors to a startup, as well as to provide a buyer with ownership of an innovative project.
3. Asset backed. This type of token can be exchanged for goods and services in real life, for example, to pay for the services of a photographer or a programmer.
4. Credit token. Often it is used to raise funds in the short term for the purpose of further repayment. The first network to issue credit tokens was the Steemit platform, which guaranteed 10% of borrowed money.

Today, the situation in the digital market is quite unstable. The price of bitcoin has dropped by tens of thousands of dollars and is not going to grow yet.  Many coins have lost their former value, which cannot please market participants who bought them and wanted to sell them at a higher price. Many factors have negatively affected the pricing policy of cryptocurrencies, which resulted in the loss of money for many crypto holders. The commodity, stock and currency markets also sank. To a greater extent, this situation was influenced by a strain of coronavirus that has existed for more than 3 years and is destroying the economies of many countries, tightening exports and imports. It also had a negative effect that in China the cryptocurrency was actually banned and many owners of the crypto were practically left with their hands tied and not understanding what to do next. The United States, in turn, has tightened the rules for the use of digital assets. However, despite all this, cryptocurrencies have not lost interest and trust from users, because they initially had some kind of volatility. Having knowledge in this area, you can make any situation profitable for yourself, even during a crisis. 

We present to your attention the TOP of the most promising tokens and cryptocurrencies according to the version of the crypto exchange Coin24.io.

Bitcoin (BTC)

Yes, you read everything correctly. It is Bitcoin that should take the leading place in this rating. The first cryptocurrency in the world that has existed for more than 14 years is worthy of attention, even despite the market situation. Despite the fact that the cryptocurrency has dipped in price , this is a great opportunity to earn good money. You can now buy it at a low price, and eventually sell it for a higher price. Why are we so sure that the price of bitcoin will rise? Everything is pretty simple. After analyzing the situation of previous years and taking into account the volatility, it is safe to say that the price will return to its previous position, and even become much higher, since such drawdowns and rises are typical not only for bitcoin, but also for all other tokens. Also, if you look at the fact that after each such “fall”, the price steadily only got higher, then there are even more pluses than minuses.

Ethereum (ETH)

It is immediately important to understand that it will not work to buy bitcoin and ethereum for a penny, however, it is quite possible to buy cheaper. The price of eth for the last year has reached its maximum of 4, and then 5 thousand dollars. At the moment, the price of the coin is approximately $3,200. Many analysts claim that it is Ethereum that accounts for about 20% of the capitalization of the entire cryptoasset market, and in the future this coin may even overtake Bitcoin. This may also be due to the fact that Ethereum switched to the PoS (proof of stake) protocol, which made it more energy efficient than other coins, including Bitcoin.

Solana (SOL)

This cryptocurrency was launched almost three years ago as a DeFi. With its appearance, it solved the problem of reducing fees for financial transactions by excluding banks, brokers, exchanges and other intermediaries that charge additional payments. Despite the fact that it occupies a small part of the market by capitalization, its price is slowly increasing from year to year. The sol cryptocurrency provides the fastest transaction processing speed — 60 thousand blocks per second, thanks to the use of bid confirmation technology and history consensus. The cost of Solana in 2021 was $ 160, that is, in almost a year it has risen in price 50 times and received its name from crypto-addicts — the liquidator of Ethereum.

Cardano (ADA)

Cardano was created in 2017 by C. Hoskinson as the largest blockchain that successfully and quickly launches all protocols in a transaction. The number of crypto coins is limited to 45 billion, 34 (or 75% of the total supply) of which are already traded on the market. Just like Solana, cardano has shown a significant increase in value in 2021, ranking third in terms of turnover in the world with a coin capitalization of 55 billion US dollars. Today, the project team plans to create an ecosystem of friendly application developers.

Avalanche (AVAX)

Avax token was developed by the Avalanche blockchain platform as a tool to access decentralized finance. The main purpose of the token is to speed up transaction processing and make DeFi easier for customers to use. At the beginning of 2021, the price of the cryptocurrency was below $3, and then rose so much that it exceeded its maximum of $146. This happened as a result of cooperation between avax and the giant auditor company Deloitte. At the moment, the partner supports the development of this cryptocurrency, using it as an intermediary to work with FEMA (Federal Emergency Campaign) in the USA. This partnership increases the level of user confidence in the coin, which ultimately has a positive effect on predictions about the future of the Avalanche token. Analysts say that the price of the coin will be between 240-290 dollars.

Ripple (XRP)

One of the most dynamic coins in the crypto universe is Ripple. This coin comes from the Far East - China. The main difference between Ripple and its competitors is that it is more focused on large financial multinational corporations, and not on the average user. Project managers and marketers position their platform as a bridge that connects new digital technologies and traditional financial systems. Ripple developers are making every effort to modernize and promote their coin as much as possible. For this period, the company already has among its partners the banks of Korea and Japan, which are actively interested in their technology and apply it for themselves. The main indicators of potential and stability are that during the most critical periods on the digital market, the coin did not sink as much in price as other cryptocurrencies.

Chainlink (LINK)

This cryptocurrency appeared in 2017, and three years later it took first place in the list of cryptocurrencies with the largest investment return. Such a result for a beginner was simply amazing. This is one of the main reasons to bet big on the rise in price, as the attention and money of investors have long been riveted to the link cryptocurrency. Earlier, analysts predicted that by the end of 2022, Chainlink will be able to compete with btc and eth and also take a leading position in the top cryptocurrencies. As you can see, the forecasts came true and this cryptocurrency really does not lag behind other popular coins and tokens, taking pride of place in the top.

Polkadot (DOT)

The launch of this platform began to be planned back in 2017, and the full launch of the blockchain project took place in 2020. This platform allows you to create your own applications and unique functional services, as well as transfer tokens and digital information. About 460 projects operate on the blockchain of this project, including the Kusama and Dot’s own cryptocurrency. Traders and crypto experts believe that the project is developing at a fast pace and will soon be able to compete with Ethereum itself.

Binance Coin (BNB)

A well—known cryptocurrency that was released by the largest crypto exchange of digital assets - Binance. This is the first exchange in the world to issue its own token. It can be argued that this coin is very lucky, because it has been popular and in demand since the first days of its release. At the moment, there are many advantages from buying this coin, namely: the exchange attracts new customers for  crypto by providing discounts on its personal platform.  During the entire lifetime of the token, one could observe a positive dynamics of its growth not only on its own exchange, but also on many others: Huobi, ByBit, Okex, etc. 

Tether (USDT)

Blockchain technology provides this cryptocurrency with high processing speed, absolute confidentiality, complete transparency and reliability. The supply of usdt is unlimited as it has a 1:1 ratio to the US dollar (the currency can also be integrated with the euro and the Japanese yen). The CTO of Tether Holdings declares with confidence that this cryptocurrency is the most liquid, since most of the investments are kept in fiat form. He also provided documentation indicating that another $50 million was added to the already existing reserves of the coin for convenience and the emergence of new customers.

Dogecoin (DOGE)

Dogecoin is a vivid example of how you can create a full-fledged cryptocurrency and hype from an ordinary meme. The symbol of the coin is a dog of the Shiba Inu breed. The coin is considered inflationary, since an unlimited issue was originally planned, but soon the developers announced that there would be no more than 100 billion cryptomonets. Now this cryptocurrency is used for charitable aspects, since a simple mechanism allows absolutely anyone to easily deal with it.

USD Coin (USDC)

This is a stable stablecoin, released in 2018 by the Coinbase exchange and the Circle Financial platform. The USDC token is fully regulated by the US authorities and provides open access to its audit for each quarter so that everything is as transparent as possible. Perhaps this is what captivates a huge number of users who did not want to invest their funds in rather dubious projects. It is also worth mentioning that the cost of this coin has never fallen below 1 USD.