While the entire cryptocurrency market is experiencing some downtrend, it is just the high time to look into some of the top 10 cryptocurrencies 2018 to get the clear idea of the current cryptocurrency market situation.
17 January, AtoZForex – The beginning of 2018 appeared quite challenging for all cryptocoins. However, despite the overall downtrend and the pressuring regulatory initiatives, cryptocurrency investors do not lose hope. And they should not – just as the numerous financial institutions don’t.
In fact, some of the US banking giants have even been lifting their cryptocurrency projections for the upcoming year. Nevertheless, considering the volatile nature of digital currencies, one could never precisely forecast the future movements of this phenomenal market.
Top 10 Cryptocurrencies 2018
Today, I would like to draw your attention to the best performing cryptocurrencies of 2018 so far. In order to present the relevant figures to you, I derived the data from the coinmarketcap. We will talk about the top 10 Cryptocurrencies 2018. Dig in!
The pioneer-cryptocurrency continues to hold the first place on our list of top 10 cryptocurrencies 2018. If you are wondering: What is Bitcoin, here is a simple answer:
Bitcoin is a peer-to-peer electronic cash ecosystem. This digital currency’s network is enabling users to utilize a new payment method. In addition, Bitcoin is a first decentralized peer-to-peer payment network that is driven by its users. Bitcoin has no central authority or intermediary. We can also describe Bitcoin as “cash for Internet”.
The Bitcoin miners are the key to Bitcoin security and miners are responsible for the creation of new bitcoins. But keeping you Bitcoin safe is the most important thing to do after buying bitcoin. You should also follow other Bitcoin news.
As of the moment of writing, the value of one BTC stands at $10,373.50, with its cryptocurrency market cap being $174,361,024,532.
Ethereum is now the second biggest cryptocurrency in the world by market cap. Ethereum was born thanks to Vitalik Buterin, and it is a platform created for smart contracts.
Even though Ethereum is quite far from reaching Bitcoin’s heights, this digital currency stands steadily and has all the potential to overcome the pioneer-cryptocurrency. While many investors seem to be bothered with the potential of regulations of initial coin offerings (ICOs), others see this issued as quite overblown and not really relevant to the Ether value.
As of now, the price of 1 ETH stands at $893.12, while its market cap accounts for $86,664,939,230.
Ripple is the fastest and most scalable digital asset on the cryptocurrency market, according to the information on its official website. Ripple is the cryptocurrency behind a new blockchain-based project, which the main purpose is to replace the SWIFT banking system that is used for the international transactions. The project looks into bringing the distributed ledger technology into the mainstream.
Many believe Ripple has some advantages over Bitcoin. For instance, Ripple’s technology makes it a secure currency, according to the supporters. Also, the team behind the project claims that the coin provides faster transactions than Bitcoin – just a matter of seconds.
The current price of 1 XRP - $1.06, with its market cap totaling at $41,106,491,828.
On the 1st of August 2017, we have witnessed the cryptocurrency fork that resulted in the creation of a new digital currency. The new cryptocurrency is called Bitcoin Cash, while its symbol is BCC.
However, some of the cryptocurrency exchanges use the symbol BHC for Bitcoin Cash in order to prevent conflict with other tokens. Bitcoin Cash is said to fulfill the initial promise of Bitcoin as "Peer-to-Peer Electronic Cash". Bitcoin Cash was created as a solution to the long-awaiting debate in the Bitcoin community in regards to the Bitcoin scalability issue.
Presently, the value of Bitcoin Cash coin accounts for $1,611.52 and its market capitalization totals at $27,261,338,512.
Cardano is a decentralized public Blockchain and cryptocurrency project. This project is a completely open source. In addition, Cardano is an improving contract platform, which looks into delivering better features than any protocol previously created.
Moreover, Cardano is the first Blockchain platform to develop out of a scientific philosophy and via research-driven approach.
One Cardano coin will cost you $0.503084, while its market capitalization accounts for $13,043,494,355.
Litecoin appears to be one of the best alternatives to Bitcoin. It was created to manage some of the flaws in the original Bitcoin protocol. In fact, Litecoin is one of the very first altcoins in existence after Bitcoin. Litecoin is used to transfer funds between individuals or businesses without any intermediary.
Now, one LTC will cost you $162.68. Its market capitalization value stands at $8,914,308,147.
The information on NEO’s website states that the project is a “non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network.”
The key aim of NEO is to be the distributed network for “smart economy.”
The value of this cryptocurrency now totals at $110.78. NEO’s market cap stands at $7,200,375,000.
NEM is a Blockchain platform that was created and coded with scale and speed in mind. NEM’s private Blockchain is able to deliver the top-notch transaction rates for internal ledgers, according to the information on project’s website.
Its consensus mechanism and the Supernode program make NEM an open and public Blockchain, allowing it to develop further without compromising its speed or stability.
NEM’s price now accounts for $0.792009, and its market capitalization - $7,128,080,999.
The cryptocurrency with a symbol XLM or Lumen is proud to be able to carry out extremely fast transactions. Stellar operates a network with the blockchain technology behind BTC. While one Bitcoin transaction might take an hour, Stellar is able to take only some seconds for this operation. The cryptocurrency is aiming to enable users to rapidly exchange government supported currencies. For instance, you could exchange US dollars to EUR.
Stellar got some support from the industry giants, as well. The computer manufacturing company IBM utilizes XLM network to develop a cross-border payment system. Another big partner of Steller – Deloitte.
XLM’s price now - $0.365465, its market cap - $6,538,466,320.
IOTA is the last but not the least on our list of Top 10 Cryptocurrencies 2018. IOTA is concentrated on Machine-to-Machine transactions. Its key purpose is to enable M2M payments via serving the machine economy. This cryptocurrency is quite different from other digital currencies since it is not even based on the blockchain system. IOTA uses the special new concept called the tangle.
As of the moment of writing, the value of one MIOTA stands at $2.19, with its cryptocurrency market cap being $6,083,029,820.