A cryptocurrency is a digital asset that can circulate without the centralized authority of a bank or government. To date, there are 22,250 cryptocurrency projects out there that represent the entire $852 billion crypto market.
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1. Cardano (ADA) : Top 6 Cryptocurrencies Of 2023 in USA
- Market cap: $10.93 billion
Somewhat later to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which ADA, its native coin, powers.
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Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Jan. 10, 2023, its price was at $0.32. This is an increase of 1,483%.
2. Dogecoin (DOGE) : Top 6 Cryptocurrencies Of 2023 in USA
- Market cap: $10.1 billion
Dogecoin was famously started as a joke in 2013 but rapidly evolved into a prominent cryptocurrency thanks to a dedicated community and creative memes. Unlike many other cryptos, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.
Dogecoin’s price in 2017 was $0.0002. By January 2023, its price was at $0.08, up 38,035%.
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3. Ethereum (ETH) : Top 6 Cryptocurrencies Of 2023 in USA
- Market cap: $162.8 billion
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
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Ethereum has also experienced tremendous growth. From April 2016 to the end of January 2023, its price went from about $11 to around $1,331, increasing 11,996%.
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4. XRP (XRP) : Top 6 Cryptocurrencies Of 2023 in USA
- Market cap: $17.66 billion
Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.
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At the beginning of 2017, the price of XRP was $0.006. As of Jan. 10, 2023, its price reached $0.35, equal to a rise of 5,715%.
5. Binance Coin (BNB) : Top 6 Cryptocurrencies Of 2023 in USA
- Market cap: $44.0 billion
Binance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.
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BNB’s price in 2017 was just $0.10. By late January 2023, its price had risen to around $275, a gain of 274,694%.
6. Bitcoin (BTC) : Top 6 Cryptocurrencies Of 2023 in USA
- Market cap: $322.5 billion
Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.
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Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one Bitcoin for about $500. As of Jan. 10, 2023, a single Bitcoin’s price was around $17,266. That’s a growth of 3,353%.