Introduction –
One of the most important things that people know about cryptocurrency is that, there are 1000s of different cryptocurrencies in the market and all over the globe. And, also it is true when you are the person who wants to start his or her journey with the cryptos. Here are some of the top news or crypto news, based on the market capitalization or the total or complete value of the coins which is presently in circulation. But before we begin, we will once again look at the definition of crypto-currency, for the green-horn readers to understand better. A cryptocurrency can be called as a digital asset which is dependent on blockchain technology and can be distributed without the centralized authority of the government or banks. Till date, there are 24,630 cryptocurrency projects out in the world of cryptocurrency market. Plus, it is estimated to reach around $4.94 billion by the year 2030.
Latest News About Cryptocurrencies –
Bitcoin is one of the most popular crypto currencies and it has a market cap of $836.0 billion. In the year 2009, it was developed by Satoshi Nakamoto. One of the things that many people do not know is that Bitcoin is the original cryptocurrency. Besides that, with several cryptocurrencies, the BTC (bitcoin) runs on blockchain, in other words ledger logging transactions which is distributed/given across the network of 1000s of computers. It is because the additions to the given ledger should be verified by solving a complex puzzle (cryptographic puzzle), it is a process known as proof of work. Due to which Bitcoin is still secure and safe against fraudster. The price of bitcoin has skyrocketed because it has become a household name. In the year 2016, May the price of one bitcoin was around $500. As of now in December, 19th, 2023 the cost of one single bitcoin was $42,711. It is a growth of 8,442%.
Ethereum (ETH) & Tether (USDT) –
The market cap of Ethereum is $265.7 billion. Due to its application, Ethereum is best program developers and also because of its smart contracts, which will on its own get executed when the conditions are met NFTs (non-fungible tokens). Ethereum is both, a blockchain platform and cryptocurrency. Ethereum is one such bitcoin that has gained a lot of growth. From April 2016 to December, 2023 the cost of Ethereum went from about $11 to $2,210, which is an increase of 19,993%.
Next, Tether has a market cap of $90.9 billion. Also, another thing that you ought to know is that, Tether is a table coin because it is backed by fiat currencies like the Dollars U.S. and Euro – Plus, it hypothetically keeps the value equal to one of those mentioned denominations. In theory, this would mean that Tether’s value is theoretical to be more consistent compared to other cryptocurrencies & it is favoured by the investors who are very much aware about the extreme volatility of other crypto coins.
Binance Coin (BNB) –
The market cap of Binance is $38.0 billion. Binance coin (BNB) is a kind of cryptocurrency which can be used to trade and also pay the fees on Binance – one of the biggest crypto exchanges in the world. Since its inception in the year 2017, Binance coin has grown from merely facilitating trade on Binance exchange platform. At present, the same can be used for payment processing, trading and even booking travel arrangements. It can also be traded or exchanged for other types of cryptocurrencies, such as Ethereum/Bitcoin. Binance price in 2017 was just $0.10 and by December 2023 i.e. now the price has risen to around $251, i.e. an improvement of 250,443%.
