TOP-5 cryptocurrencies in 2020
The growth of cryptocurrency value and the growth of public interest in it increases year by year. Despite economic difficulties, the cryptocurrency looks like the most stable currency in the modern world. Undoubtedly, its stability attracts investors who choose to add cryptocurrency to their investment portfolio.
💭 Well, what cryptocurrencies are in the TOP-5 in 2020?
#1 BITCOIN (BTC)
We’ve already discussed this number one cryptocurrency. Bitcoin was the first decentralized digital currency that could be sent by the internet directly from one person to another without contacting any bank or payment provider.
Bitcoin has always grown significantly stronger compared to other cryptocurrencies. Today, Bitcoin is still the leader of the cryptocurrency market: it is the most expensive cryptocurrency with a price of $6 928,05 per 1 BTC. Bitcoin has the highest market capitalization with more than $126 billion.
#2 ETHEREUM (ETH)
Ethereum is a platform for creating decentralized online services based on blockchain, working based on smart contracts. It was created in 2015, and its coins are called Ether (ETH). Unlike other blockchains, Ethereum is programmable, which allows developers to use it to build other decentralized applications.
To this day, Ethereum is the second-largest coin with a market capitalization of more than $16 billion. But the price of Ether is $145,22 per 1 ETH, so it is inferior to other cryptocurrencies and takes 5th place in the price rating.
XRP is a cryptocurrency of Ripple. Ripple (Ripple Transaction Protocol) is a real-time gross settlement system, currency exchange and remittance network built on a distributed open Internet protocol and consensus registry. The network is managed by a network of independent servers that could belong to anyone (persons or organizations). Their payments are irreversible, and they don’t have chargebacks.
At the moment, XRP is quite cheap and costs $0,18 per 1 XRP, but its market capitalization is enormous — almost $8 billion.
#4 TETHER (USDT)
Tether is a cryptocurrency that was launched in 2015 on the Omni Layer platform that is an add-in of the Bitcoin blockchain. Tether’s creators claim that this digital currency is pegged to the U.S. dollar, so it is more stable than other cryptocurrencies, but these claims are still not proven.
For now, Tether is not so expensive ($1 per one coin), and its market capitalization is $6 billion.
#5 BITCOIN CASH (BCH)
Last but not least is the altcoin Bitcoin Cash, a fork of Bitcoin. Bitcoin Cash was formed in 2017, when the number of Bitcoin transactions increased significantly. Bitcoin block size was limited, which affected the speed of operations, the duration of which sometimes amounted to several days. Therefore, it was decided to split Bitcoin and create Bitcoin Cash, which has larger blocks in its blockchain that allow it to process more transactions per second.
At this moment, the market capitalization of Bitcoin Cash is much lower than Bitcoin’s, but it is still in the top-5 rating of cryptocurrencies in 2020. Its capitalization is $4 billion, and the price is $238,75 per 1 BCH.
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