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The Fastest Growing Cryptocurrencies and Their Sustainability

Source: trend-online.com

There has been a marked rise in the number of cryptocurrencies and electronic forms of finance. The question most people are asking is which cryptos are the best choices and why, and will these choices be sustainable in the long run? This article aims to answer all this and provide you with a clear list as to which of the cryptos have been and still are worth some further research.

There have been over 12000 cryptocurrencies released, yet if you were thinking of investing, it would need to be the currencies below that you should be considering.

Bitcoin

Source: bluetechspace.com

Bitcoin is the original cryptocurrency and also the one that has become the best-known variant of crypto that there is. It is also the largest cyber currency out there in terms of its market capitalization, which had reached 322 billion US$ as of the beginning of November 2022. You can keep up with its current value, 7-day progress, and conversion rates to the US$ at OKX, which will provide the foundational knowledge to provide an informed impetus for an investment decision. Bitcoin has been the most sustainable form of crypto developed thus far, and it is this sustainability that has seen it be used for a myriad of different purchases and investments in the online space. Bitcoin is the crypto to watch and the one that has the most credibility overall, leading people to assume it also has the best chance of real sustainability and developing into more of a mainstream currency than any of the other cryptos out there.

Ethereum

It started in 2015 and has slowly become one of the most widely used cryptocurrencies that there is. It is currently the world’s second-largest crypto coin and has gained this standing by providing a safe and secure means of payment. It has also made some innovative changes or improvements in its blockchain security structures in recent times that have seen its value rise significantly. Ethereum is expected to be able to weather the storm, and its longevity will be determined by the fact that there are so many people who have since invested and are constantly improving and adjusting features of the currency to improve and sustain its growth.

Tether

This virtual coin is pegged to the US dollar and is also known as a stable coin to balance or stabilize other related cryptocurrencies. One tether normally has the value of 1$, and the aim is to keep some form of standard that can be accepted and used to rate and measure value of all the other crypto out there. Tether started in 2014 and has since become one of the most trusted and most traded crypto available.

XRP/Ripple

Source: pymnts.com

This Ripple token is structured on its own blockchain called XRP ledger, and it is used by some of the biggest banks in the world to support payments and transactions. It has also been described as a real-time financial settlement system. Transactions are validated using Ripplenet, and this currency is able to produce and complete transactions much faster than most other cryptocurrencies.

Cardano

Founded by the same person responsible for Ethereum, Cardano has been widely used and even suggested as a national financial system for small developing countries. A large number of commentators have argued that Cardano is essentially the next iteration of Ethereum and is expected to provide an improved system of financial exchange with a level of scalability that will make it last the longest of the larger market capped cryptos.

Dogecoin

Its logo is the Shiba Inu dog, and as a coin, this crypto reached some great heights until 2018. There are still those who swear by its use and use it to tip on Reddit and Twitter. This crypto was started as a bit of a joke, hence the logo and the fact that it has been referred to as an accidental cryptocurrency. The sustainability of this coin is said to rest on the ability of some of its celebrity buyers and investors to spread the word and build a credible following.

Binance

Source: vanguardnews.com

It was indeed one of the top cryptocurrency platforms until a little while ago when it all came crashing down. The platform was started in China and had to move to the Cayman Islands after increased regulations were instituted by the Chinese government. It did, however, start two cryptocurrencies, Binance Coin (BSB) and Binance USD (BUSD). It has to be mentioned although it is no longer in the top ten, its demise shows a great deal about the intrinsic state of flux linked to all cyber currencies. The Binance platform allowed all trades to be paid for in Binance coins and was at one stage the third-ranked crypto based on its market capitalization. It is not sustainable at all…

What is crypto sustainability linked to?

All cryptos have several aspects in common, and it is these commonalities that have to be examined as a marker of the currencies’ sustainability. The sustainability of the currency refers to the ability of the currency to last as long as possible, or rather not to collapse under the constant modern pressures of demand, crime, fraud, and uncontrollable volatility.

The size of the crypto following:- This is vital for sustainability although not a given or a definite sign of sustainability. No matter how many people own and support the currency, unless it is well structured and based solidly on secure blockchain, then it will not last long.

The blockchain technology:- The basis of all good cryptocurrency is its underlying blockchain. The blockchain is what provides the layers of safety and security as well as an unchangeable record of transactions.

Final comments

Source: industrywired.com

These have been the cryptocurrencies that have made the headlines and a few millionaires along the way as well. Because these are peer to peer means of payment and finance, they have become incredibly popular, but it is also important to know that this popularity is also simply based on sentiment and preferences. The cryptocurrencies mentioned and discussed are those where sentiment has been positive thus far, but it must be mentioned that, just as with Binance, such sentiment can change at any time, hence the recognized volatility of these currencies.

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