Cryptocurrencies News in January 2022
A cryptocurrency is a digitized, encrypted, and decentralized exchange rate. They are broadly spread via the internet among the users as the cryptocurrency’s value is not managed or controlled by any authority. A lot of research on understanding how the system runs should be done before you purchase it for the first time in view of the fact that it could be very risky. It could get overwhelming with thousands of different cryptocurrencies. To start off, here is the top cryptocurrency news in January 2022 according to the market capitalization.
Market Capitalization: Over $882 billion
Bitcoin is the original cryptocurrency created in 2009 by someone or a group of individuals operating under the pseudonym Satoshi Nakamoto. BTC, like the majority of cryptocurrencies, is based on a blockchain, which is a distributed ledger that records all transactions over thousands of computers. The price of a single Bitcoin was above $46,000 on January 3, 2022. This equates to a 9,200% increase.
2. Ethereum (ETH)
Market Capitalization: Over $447 billion
In the crypto investment community, Ethereum is regarded as the second-best cryptocurrency. The Ethereum currency is used to pay for the EVM’s (Ethereum Virtual Machine) processing power in order to run smart contracts efficiently. It has the ability to replace all types of legal, financial, and social agreements, as well as bets, employment contracts, and more. Its price increased by approximately 33,500 percent from April 2016 to January 2022, from around $11 to over $3,700.
3. Binance Coin (BNB)
Market Capitalization: Over $86 billion
Binance, created in 2017, is one of the biggest crypto exchanges around the world. Trading, transaction processing, and even travel bookings can all be done using it. It has increased to nearly $520 by January 3, 2022, with approximately 520,000 percent.
4. Tether (USDT)
Market Capitalization: Over $78 billion
Tether is backed by fiat currencies such as the US dollar and the Euro. It is a stablecoin with a value that is theoretically equal to one of those denominations. It is widely appreciated by investors who are concerned about other coins’ tremendous fluctuation as Tether’s value is intended to be more stable than other cryptocurrencies.
5. Solana (SOL)
Market Capitalization: Over $52 billion
Solana is a cryptocurrency that was created to support decentralized finance (DeFi), decentralized apps (DApps), and smart contracts. It is developed as a hybrid proof-of-stake and proof-of-history technique to speed up and secure transaction processing. The platform is powered by SOL, Solana’s native cryptocurrency. Due to its universality and minimal transaction fees, Solana is considered the fastest cryptocurrency. It has been utilized in a variety of projects and uses cases across a variety of sectors. In recent months, a growing number of active entrepreneurs have been leveraging Solana blockchain to rapidly construct crypto applications. It is one of the greatest cryptocurrencies to invest in and get a head start in 2022. SOL’s price was $0.77 when it was first introduced in 2020. It was worth around $171 on Jan. 3, 2022, a rise of over 22,000 percent.