From Bitcoin to all other popular and the just upcoming altcoins, there exists thousands of different cryptocurrencies. This may be very overwhelming when you are just a beginner in the realm of cryptocurrency. However, there is no doubt that as you gain more interest in cryptocurrency, the more understanding you build on various existing cryptos.
Other than Bitcoin, there are various alternatives to cryptocurrencies in the crypto market today. It is these alternative cryptocurrencies that are referred to as altcoins. At least we can now see the light at the end of the tunnel as altcoins are finally beginning to gain popularity as well as momentum in the cryptocurrency market.
However, the uptrend growth momentum being witnessed is not going to be an easy ride. New areas in the blockchain technology industry have been rapidly developing since the beginning of this season. DeFi, NFT, and Metaverse marketplaces are developing and so hands are full for the entire research phase.
Well, it can be very difficult finding your way to determine which are the top performing altcoins in the cryptocurrency market. However, I have gone out of the way and done some analysis to present you with the performance of the top altcoins in the market. we will consider some of the best performing altcoins in 2022 by analysing every single one on its own.
The Performance of Top Altcoins in the Market Currently
The cryptocurrency market has not been totally good this year as the key tokens continued to shed more than 10%. The major altcoins like Ether have equally not been spared as many more alternatives and tokens fair on badly. But this does not downsize the fact that most of these altcoins have equally grown in popularity and value.
Even with the existence of Ether, Litecoin, Shiba Inu, and XRP as worthy contestants, there are few additions to this list. This means that there is a very high potential that the altcoins market performance will experience explosive growth. The best performing altcoins have equally registered outstanding values with their market capital. Let’s have a look at some of the best performing altcoins in the market today.
1. Ethereum (ETH)
Stands out as the most successful altcoin in the digital asset realm. Ether has been the leading altcoin in the cryptocurrency market for as long as I can remember. Not only does research indicate that it has the largest platform for smart contracts in the cryptocurrency realm. But also, the domain for the development of some of the notable Metaverse, Web3 projects, and DeFi.
It is because of these features that Ether offers the most advanced utilities which have influenced its price directly hence its growth. The price has increased from $11 in April 2016 to about $1568 in September 2022. Ether has managed to achieve a mind blogging growth value of about 1.5million percent.
Despite its network developing some issues in the past, Ether still stands out among altcoins as one with a smart chain platform size. This has greatly built up on new hopes that Ethereum may soon overtake Bitcoin to be the largest crypto in the market.
2. Tether (USDT)
With market capital of $67 billion, Tether is closely chasing towards Ether. Unlike some altcoins, Tether is a stablecoin which simply means that it gets some backing from fiat currencies. For instance, the US dollars or EUR. What this means is that it basically retains a hypothetical value which either equals the value of a US dollar of EUR.
The ultimate conclusion is that Tether should have a value that is more consistent than the values of the other altcoins. Most investors are therefore expected to have their attention towards Tether from the worry of volatility in the cryptocurrency market. Hence, it probably has achieved great popularity in the cryptocurrency market.
3. Binance Coin
Another world’s largest cryptocurrency platform, Binance has been the force behind the power of the Binance coin. With the falling prices of cryptocurrencies, their performance sloped as a result of the decreasing number of cryptocurrency transactions. Experts in the cryptocurrency realm believe that BNB token might just be the best alternative for investors to obtain returns by the end of this year.
Since 2017, BNB has expanded from its facilitation of trades on the Binance exchange platform. It can now also facilitate trading, transacting, while at the same time exchanged for other forms of crypto coins. Its price has increased from $0.10 in 2017 to approximately $276 by September 2022. What a promising future growth from such a trend.
4. Cardano (ADA)
If you want have the strongest altcoin in the cryptocurrency market then Cardano is for you. The valuation of Cardano went up during a time when all other cryptocurrencies were facing a hard time. Despite the slower development initiatives with Cardano, it’s tokens are made up of the best features from the first and second genres of digital assets. This can be definitely Ethereum.
The market capital of Cardano is approximately $15 billion. Though it arrived later into the cryptocurrency realm, it is an altcoin that embraced the proof-of-stake validation quite early. This is a method that increases the transaction speed and reduces energy usage thus impacts the environment positively.
Cardano operates just like Ethereum in enabling smart contracts as well as decentralised applications. Its ADA tokens exhibit a modest growth unlike other major cryptocurrencies. However, it has only had a price increase from $0.02 from 2017 to $0.44 as at September 2022. A percentage price increase of 2400% is not a small change but progressive.