Cryptocurrencies might have started out like a Wild West of investing, but it’s now firmly in the financial mainstream.
The best performing cryptocurrencies in 2022 have allowed crypto investors to beat the market rate of return in other assets – like equity and commodities – by several times. Cryptocurrency market might have started out like a Wild West of investing dominated by mavericks, but it’s now firmly in the financial mainstream. Today we will talk about the most traded cryptocurrencies. Bitcoin gets all the headlines when people talk about cryptocurrencies, but there are literally thousands of other options when it comes to these digital currencies. This article features the top 10 most traded cryptocurrencies in the first quarter of 2022.
Tether
Tether’s price is anchored at US$1 per coin. That’s because it is what’s called a stablecoin. Stablecoins are tied to the value of a specific asset, in Tether’s case, the U.S. Dollar. Tether often acts as a medium when traders move from one cryptocurrency to another. Rather than move back to dollars, they use Tether. Many crypto investors prefer Tether over other cryptocurrencies because of its stability.
Bitcoin
There’s absolutely no surprise whatsoever that Bitcoin still reigns as the world’s most popular cryptocurrency. If Bitcoin were a company, it would be bigger than Meta Platforms (formerly known as Facebook) and Tesla. Bitcoin continues to enjoy the advantage of being the first cryptocurrency. It’s more widely accepted than any other digital coin, mainly because it’s been around longer.
Ethereum
Ethereum, commonly known as ether, is the world’s second-largest cryptocurrency behind bitcoin, even outperforming bitcoin recently in terms of price gains, CoinTelegraph reported. Last year, Ethereum instituted a major upgrade that included reducing the supply of ether, currently at 120.33 billion coins.
Binance USD
Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by…
