5 digital currencies that dominate the crypto market, here are the most important, strongest and best
The world of crypto contains hundreds of currencies and tokens, but out of the dozens of digital currencies the influence and power are limited to a limited number of those currencies.
Currencies that gain institutional acceptance and are traded on the largest cryptocurrency exchanges with high trading volumes indicate investor appetite for their acquisition.
But who is the best and strongest in a market characterized by wild and rapid volatility?
Far from the first position in which the world’s number one currency retains bitcoin, altcoins are led by Ethereum.
Ethereum succeeded in recording strong gains during the past 30 days, outperforming the one that recorded declines in both the weekly and monthly levels.
The largest alternative currencies are trading at the highest price peak on the divorce after exceeding the levels of 4 thousand dollars, to reach the levels of 4150 dollars.
Ethereum, which targets $ 5,000 levels, rose by more than 30% within 7 days, while it increased by about 90% during 30 days’ transactions.
It jumped from the levels of $ 730 by the end of 2020 to levels of $ 4,150 according to the levels of May 10, rising by more than 470% during the current year.
While Ethereum is taking firm steps, it may give it an opportunity to compete with Bitcoin during the current year if Bitcoin continues in its struggle with the levels of 60 thousand dollars.
The Binance Coin currency, which recorded tangible successes in the world of cryptocurrency, was supported by a remarkable increase in trading volumes, especially on the Binance Coin exchange.
Binance Coin succeeded to be the third largest digital currency by market value, which coincided with a strong rise in the market value that gave it 3 cards to cross the $ 100 billion club, to join Bitcoin and Ethereum.
Binance Coin is trading at its highest levels ever, which it rose to during trading on Monday, May 10, approaching $ 700.
Binance Coin rose relatively during the past 7 days, while it jumped by more than 40% during the past thirty trading days, while its market value jumped to levels of $ 104 billion.
During 2021 transactions, Binance Coin jumped from the levels of $ 37 to levels of $ 690, an increase of 1770%.
According to Zhang Bing Chau, who reposted a tweet, it expects the price of Binance Coin to rise to $ 808 levels, after bulls clearly outperform bears.
Thanks to Elon Musk’s tweets, Dogecoin joined the big list, displacing the Cardano, Ripple and Polka Dot coins, to become the fourth largest digital currency by market value.
However, Dogecoin, despite its rocketing heights, is the most volatile digital currency over the past few days due to Elon Musk’s tweets.
Dogecoin rose within 7 days by about 26%, while it jumped by about 700% within thirty days, bringing its market value to about $ 65 billion.
Elon Musk tweeted: “SpaceX launches the Doge-1 satellite to the moon next year – Elmah is driven by Dogecoin – the first digital currency in space – the first space meme (MEME).”
Elon Musk’s SpaceX said it will accept DOGE / USD payments to launch a trip to the moon within the next year.
The company will launch the “Dogecoin Mission of the Moon” during the first quarter of 2022, and the company accepts payments in Dogecoin.
One day before SpaceX, Musk warned the speculators in Dogecoin, describing it as a trick, saying, “Don’t get carried away by the fun of speculation.”
Despite the decline during Monday’s trading, by about 2.2%, Cardano has become one of the strong currencies that confirmed its presence in the world of crypto thanks to the steady performance during the past few weeks.
Less optimistic forecasts are that it might rise to $ 2.24 or $ 2.275.
But in a more optimistic scenario, McIntyre believes that investors can see the cryptocurrency rise 75% from the current price to $ 2.96.
Cardano was trading in early 2020 at levels of $ 0.18, and before the end of February, Cardano had crossed the $ 1 threshold, meaning that it doubled its value more than 5 times.
While Cardano is now trading at the highest levels ever at $ 1.73, meaning that it doubled its value during 2021 by more than 8 times, while it rose by about 900%.
Thanks to recent increases, Cardano became the fifth largest digital currency by market value after recording a value of about $ 57 billion.
Ripple is one of the most promising currencies in the cryptocurrency market, but the launch and liberation of Ripple is linked to conditions.
Perhaps the most important and only condition for launching Ripple lies the settlement of lawsuits from the US Securities and Exchange Commission.
Analysts expect the Ripple to rise to the levels of 5 dollars upon reaching the final settlement, while heading to levels of 9 or 10 dollars after that.
Although no final settlement was reached, some of the victories achieved by Ripple since the lawsuit was filed in December 2020 enabled the currency to offset a large part of its losses.
With the inclusion of Coinbase in mid-April, Ripple reached a 3-year high when it was close to two dollars and rose to 1.96 dollars.
However, it fell below the dollar’s levels before rising again to current levels near $ 1.6.
The market value of Ripple reached about $ 45 billion, after increases of about 25% over the past thirty days.
Ripple began trading 2021 at levels of $ 0.234, to rise by about 600% this year.