by Aratrika Dutta
October 16, 2021
Cryptocurrencies are becoming ubiquitous, and are dominating the fintech industry in the current age. The most popular cryptocurrencies are alluring to investors who are investing in diverse cryptocurrencies to expand their portfolios. This article lists the top 10 cryptocurrencies to buy this October weekend for high returns.
Market Cap: US$1,085,143,380,262
Bitcoin’s invention in 2009 changed money forever and opened the door to all sorts of variations on and improvements of its technology. It’s tough to understate the importance of Bitcoin and the underlying concept of the blockchain that accompanied it, but 12 years later, Bitcoin’s first-mover advantage has compounded to put its market capitalization above $1 trillion.
Market Cap: US$70,323,393,273
Cardano is the most promising cryptocurrency of 2021 and is expected to remain one. The most unique selling points of Cardano are scalability and sustainability. The new development of Cardano to deal with smart contracts is yet another dimension added to its selling points. The coin also has low transaction fees that make it easily affordable and highly profitable.
Market Cap: US$413,577,383,955
Although Bitcoin has been the lead crypto from the get-go, Ethereum emerged as a force to be reckoned with in 2015 and is perhaps the only other token with any business being regarded as blue-chip crypto. Ethereum’s market share in the nascent and fast-growing field of decentralized finance, or Defi, has the digital currency slowly chipping away at Bitcoin’s share of the overall crypto market.
Market Cap: US$29,967,210,115
About Dogecoin: A coin that started as a meme is now the most important and trending crypto in the market after Elon Musk’s moniker “Dogemaster”. The coin came into existence in 2013 and has a price of US$0.2268. Reportedly, dogecoin can be your cheap and reliable cryptocurrency purchase in 2021.
Shiba Inu (SHIB)
Market Cap: US$12,351,242,715
Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” The meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and Tweets from personalities like Elon Musk and Vitalik Buterin. Shiba Inu aimed to be the Ethereum-based counterpart to Dogecoin’s Crypt-based mining algorithm.
Binance Coin (BNB)
Market Cap: US$68,330,599,063
While Coinbase Global Inc. (COIN) gets the bulk of the media’s attention when it comes to cryptocurrency exchanges, Binance is the largest global exchange by volume. Binance was initially based on the token issued through the Ethereum blockchain but has since transitioned to being issued on its Binance blockchain. As with several other top cryptocurrencies, there’s a maximum supply of BNB, which is capped at 200 million. Currently, more than 168 million are already in circulation.
Market Cap: US$51,988,160,510
XRP was created by the founders of the digital payment processing company Ripple. It serves as a crypto PayPal of sorts, allowing exchanges between both crypto and fiat currencies.
Ripple is investing heavily in non-fungible token projects that use XRP Ledger, which is a public blockchain. This investment suggests Ripple is positioning itself as another “Ethereum killer,” according to Inside Bitcoins.
Axie Infinity Shards (AXS)
Market Cap: US$7,486,923,777
As the space evolves, the best cryptocurrencies to buy tend to become more and more obscure. Enter Axie Infinity Shards, the governance token for a blockchain-based game reminiscent of Pokemon. It’s a player-owned game, with AXS acting as the voting mechanism. Built on the Ethereum blockchain, Axie Infinity is a great example of the freewheeling creativity that can unfold on the blockchain these days.
Market Cap: US$14,219,489,758
Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (Defi) tokens. An example of an automated market maker (AMM), Uniswap launched in November 2018 but has gained considerable popularity this year thanks to the Defi phenomenon and associated surge in token trading. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges.
Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges.
Market cap: US$68,750,928,492
Unlike some other forms of cryptocurrency, Tether is a stable coin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.