Top April Cryptocurrencies for Investment
It might be daunting for someone new to the crypto world to wade through the thousands of cryptocurrencies, such as Bitcoin, Ethereum, Dogecoin, and Tether. If you’re looking for a starting point, here are the ten most valuable cryptocurrencies you should consider investing in by market capitalization (the sum of all the coins in circulation).
What Are Cryptocurrencies?
Thanks to blockchain technology, digital assets known as cryptocurrencies can circulate freely and decentrally. The cryptocurrency market is anticipated to reach $4.94 billion by 2030 and has 24,630 active projects.
Top 10 Cryptocurrency
1. Bitcoin (BTC)
- Market cap: $1.3 trillion
- Year-over-year return: 136%
Satoshi Nakamoto created the first cryptocurrency, Bitcoin (BTC), in 2009. Blockchain, a distributed ledger that records transactions over a network of computers, is the foundation of Bitcoin and most cryptocurrencies. Bitcoin is protected from fraudsters because, to be included in the distributed ledgers, one must solve a cryptographic puzzle known as proof of work.
As Bitcoin has gained widespread recognition, its price has soared. One bitcoin was worth around $500 in May 2016. On April 25, 2024, the cost of one bitcoin was about $64,427. A growth rate of 12,785% is that.
Related: How To Buy Bitcoin
2. Ethereum (ETH)
- Market cap: $385.5 billion
- Year-over-year return: 73%
Ethereum, a cryptocurrency and blockchain platform, is popular among programmers due to its many possible uses, such as non-fungible tokens (NFTs) and smart contracts that execute automatically when certain conditions are satisfied.
The value of Ethereum has also skyrocketed. Its price increased 28,605% from $11 in April 2016 to $3,158 at the end of April 2024.
3. Tether (USDT)
- Market cap: $110.4 billion
- Year-over-year return: 0%
As a stablecoin, Tether (USDT) is supported by fiat currencies like the US dollar or the Euro and, in theory, maintains a value equal to one of those denominations, unlike certain other types of cryptocurrency. In principle, this means that Tether’s value should be more stable than other cryptocurrencies, which is why it’s popular among investors who fear the coins’ excessive volatility.
4. Binance Coin (BNB)
- Market cap: $90.5 billion
- Year-over-year return: 85%
Binance is one of the biggest cryptocurrency exchanges in the world, and its users can trade and pay fees using their cryptocurrency, Binance Coin (BNB). The original purpose of Binance Coin, which was launched in 2017, has now been broadened beyond enabling trades on Binance’s exchange platform. Trading, money processing, and even organizing travel arrangements are now possible with it. You can also buy and sell it for Bitcoin and Ethereum, two other popular cryptocurrencies.
In 2017, the price of BNB was a meagre $0.10. The price had increased by 613,003% by the end of April 2024, reaching approximately $613.
5. Solana (SOL)
- Market cap: $66.4 billion
- Year-over-year return: 610%
Solana is a blockchain platform that supports decentralized applications (DApps), smart contracts, and decentralized finance (DeFi). It uses a hybrid proof-of-stake and proof-of-history mechanism to securely and swiftly process transactions—a platform powered by Solana’s native cryptocurrency, SOL.
The initial price of SOL was $0.77 when it debuted in 2020. The price had increased by 19,159% by the end of April 2024, reaching approximately $148.30.
6. U.S. Dollar Coin (USDC)
- Market cap: $33.2 billion
- Year-over-year return: 0%
In the same vein as Tether, USD Coin (USDC) is a stablecoin that seeks to maintain a 1:1 ratio with US dollars. You can use USD Coin to make global transactions powered by Ethereum.
7. XRP (XRP)
- Market cap: $29.0 billion
- Year-over-year return: 15%
Ripple is a digital technology and payment processing firm that created XRP. Users can swap fiat currencies and other major cryptocurrencies for XRP on that network.
The starting price of XRP in 2017 was $0.006. There was an 8,676% increase in price, to $0.53, as of April 25, 2024.
8. Dogecoin (DOGE)
- Market cap: $21.9 billion
- Year-over-year return: 95%
Despite its infamously comedic origin story, Dogecoin quickly became a significant cryptocurrency in 2013 owing to its enthusiastic user base and innovative memes. The depreciation of Dogecoins could be caused by a rise in supply, unlike many other cryptocurrencies, because there is no cap on their creation.
2017 saw a price of $0.0002 for Dogecoin. Its price has increased by 75,904% by April 2024, when it was $0.15.
9. Toncoin (TON)
- Market cap: $18.9 billion
- Year-over-year return: 141%
Before the TON foundation’s acquisition, Toncoin was created as a layer-1 blockchain for the encrypted messaging application Telegram. However, it was quickly abandoned. From its original acronym, TON, the project was renamed to “The Open Network” (a departure from its original name, “Telegram Open Network”).
The native TON token is Toncoin, previously known as Gram. In addition, The TON software facilitates the purchase, transfer, and storage of cash over the TON network, which is extremely quick and ecologically benign.
10. Cardano (ADA)
- Market cap: $16.8 billion
- Year-over-year return: 24%
The adoption of proof-of-stake validation was an early feature of Cardano (ADA), a cryptocurrency that entered the market later. In addition, By doing away with the competitive, problem-solving element of transaction verification in systems like Bitcoin, this strategy shortens transaction times, reduces energy usage, and lessens environmental impact. Like Ethereum, Cardano’s native token ADA enables intelligent contracts and decentralized apps.
In addition, The ADA cryptocurrency, issued by Cardano, has grown slower than most other prominent cryptocurrencies. The price of ADA was $0.02 in 2017. Its price was $0.47 on April 25, 2024. A 2,266% rise, that is.
