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The excitement in the cryptocurrency world does not subside. More and more investors are expanding their portfolio with virtual assets or becoming traders on exchanges. Moreover, the choice of really strong coins remains wide, growing with new positions every year.
Almost all top cryptocurrencies can be bought on major exchanges, and Binance is one of them. What digital currency is in priority on this platform?
Top cryptocurrencies on Binance
The Binance exchange is a modern multifunctional service designed to earn money on cryptocurrency trading. The user can perform various actions: buy, sell and manage more than 150 cryptocurrencies that are added to the service. The platform provides a high level of security, so all personal and payment data, as well as assets, are protected from various actions of intruders or technical problems. The exchange allows you to use several types of trading: spot, margin and futures.
According to the site’s reports for 2020, bitcoin remained the most popular asset, as traders sought to protect their savings from inflation. Of the total market capitalization of all cryptocurrencies, the share of bitcoin was 66%. Ethereum was no less popular – its capitalization was 11%. The most traded currencies on Binance OTC included: BTC, Ethereum, Binance Coin, Cardano.
How has the situation changed as of the end of March 2022?
Bitcoin has been and remains the main player in the cryptocurrency market since the first moment of its release. Many large investors who previously did not even think about buying it are investing their money right now. According to Square CEO and Twitter’s Jack Dorsey, the most important thing at the moment is working on bitcoin. Therefore, we can say that the institutional and retail demand for digital gold continues to grow. Also, many countries plan to include BTC in the list of means of payment. So far, such a law has been adopted only in El Salvador. Over the past month, the price of bitcoin has increased by 21.8% to $47,700. As of March 28, 2022, the daily trading volume of this cryptocurrency on the Binance exchange amounted to more than $4.25 billion.
One of the top cryptocurrencies, which was created back in 2015 by Vitalik Buterin. Its main feature is the presence of smart contracts that allow you to expand the ways you use the network. As Buterin himself says, with their help it is possible to move to the next stage of civilization based on the blockchain. However, many companies are already using this network to achieve their goals. In it, they are captivated by a high level of security and a convenient space for developing DeFi applications.
One of the main points of increasing interest in Ethereum is its transition to the POS model, which should occur in the second half of 2022. Ethereum has been holding the title of “king of altcoins” for several years, second only to digital gold – bitcoin – in popularity. The situation on the largest crypto exchange Binance is no exception. The daily trading volume of the asset on the site amounted to more than $2.55 billion as of March 28, 2022. Over the month, ETH rose in price by 29% to $3,360.
Shiba Inu (SHIB)
A meme-cryptocurrency that appeared as a result of the Dogecoin boom, the ideological clone of which, in fact, is. At the same time, SHIB differs from it in technical characteristics:
- Dogecoin is a cryptocurrency based on the Scrypt hashing algorithm;
- Shiba Inu is a token created on the Ethereum blockchain;
- DOGE can be mined, and SHIB tokens were created immediately after the launch of the smart contract.
A significant contribution to the explosive growth in the popularity of this cryptocurrency in 2021 was the tweets of Elon Musk and Vitalik Buterin. Shiba Inu positions itself as an analogue of Ethereum among the “dog” cryptocurrencies: Dogecoin, Alaska Inu, JINDO INU, Baby Dogecoin, Alaskan Malamute Token, etc.
At the beginning of March 2022, the price of the token decreased by 35%, but at the end of the month it recovered to its previous level and even exceeded it. The coin is currently trading on Binance at $0.000029 with a daily trading volume of $765 million.
Cryptocurrency appeared in 2020 and is an open source system. Its goal is to enable the use of simple decentralized financial solutions. SOL has two big advantages over Ethereum: high transaction speed (50 thousand per minute) and higher scalability.
All this attracts new investors, thanks to which the value of SOL increased by 10,000% in the first three quarters of 2021. Many traders support this cryptocurrency.
Analyst Koroush AK tweeted: “I bet SOL will follow ETH“.
The cryptocurrency is currently trading at $110 with a daily trading volume on Binance of $630 million.
The ApeCoin project was created during the NFT boom and inspired by the collection of Bored Ape Yacht Club known in the ru-segment as “Bored Monkeys”. APE is a governance utility token in the ecosystem of the same name. The goal of the project is to develop and expand the possibilities of creating DAO using Web 3.0 technologies.
APE token allows holders not only to vote for various infrastructure improvements of the project, but also provides access to exclusive games and services. With it, third-party developers can add their products to the ApeCoin ecosystem. Despite the fact that the smart contract was launched on March 17, 2022, the daily trading volume of the APE token reached over $490 million just 10 days after the start of the project.
Promising Coins on Binance Smart Chain
Binance Smart Chain (BSC) is the continuation of Binance Chain (BC) that was launched in early 2019. The purpose of the existence of the last platform is to create the possibility of fast decentralized trading. However, the system lacked flexibility due to overloads in the use of a large number of smart contracts. To expand the capabilities of BC, the BSC network appeared, over time they began to work together.
It should be noted that BSC has become one of the main competitors of Ethereum in terms of application in decentralized applications. And this is no coincidence, because quite a few GameFi and DeFi protocols have already been launched using the Binance Smart Chain ecosystem. Accordingly, BSC tokens are quite popular. We list the most famous of them for March 2022.
STEPN is a metaverse application built using Web 3.0 technologies. A kind of “game of life” with fun social elements and gamified design. Users have the option to wear NFT sneakers in which they can walk, run and jump, earning GMT tokens. They are needed to raise the level of your character and create new sneakers. Coins also open access to various decorations and give the right to vote in the development of the project.
Since its listing on Binance in early March 2022, the GMT token has risen in price by 700% to $1.05. The daily trading volume on the site is $492 million.
Zilliqa is a public smart chain with a high throughput of thousands of transactions per second. Network slicing is used to solve scalability issues. Many dApps have been launched on the platform, support for staking and profitable farming has been implemented.
Zilliqa developers claim that their project is the world’s first public blockchain with full sharding implementation. As the network grows, the number of separate segments (shards) that process different operations also grows. This makes it easy to scale the blockchain while increasing the speed of transactions. The project aims to become the main blockchain for the corporate segment in the field of advertising, games, entertainment, and fintech.
During the last week of March 2022, the ZIL token rose in price by 300% to $0.12. The daily trading volume on Binance was $564 million.
The project is a platform for launching DeFi applications, new financial assets, trading and other near-financial projects. As conceived by the developers, Avalanche should be transformed into a global asset market that will allow users to trade and exchange them in any form. It can also be used to control smart contracts and new technologies.
After falling by 25% in mid-March 2022, by the end of the month, the AVAX token rose by 30% to $94. The daily trading volume on Binance as of March 28 this year was about $365 million.
Near Protocol (NEAR)
Near Protocol is an ecosystem for building online applications. The platform’s native token is used to pay internal fees for transfers and data storage. It also gives the right to vote on infrastructure issues, it is needed to launch validator nodes. The number of developers includes experienced professionals – winners of prestigious programming competitions.
In March 2022, the price of the NEAR token increased by 50% to $13.5. The daily trading volume on Binance was $125 million.
Which cryptocurrencies should you pay attention to in 2022?
In recent years, the market has increased the number of cryptocurrencies in which you can invest money. Experts annually make forecasts for their best choice, based on the following factors:
- The value of the asset. This criterion is formed from the new that the project can bring to the field of blockchain. Those assets that are able to solve the existing difficulties in the cryptosphere have the highest value.
- Significance. A cryptocurrency can lose its value if another one enters the market with more features (for example, better bandwidth).
- Improvement. Project developers must constantly test the new network, identifying its vulnerabilities. If this is not done, attackers can take advantage of the “holes”, which will lead to the collapse of the project.
Bitcoin is considered the most important digital currency that should be in the portfolio of any crypto investor in 2022. As practice shows, its value is steadily growing even after serious drawdowns. Ethereum is in second place. It is he who is recommended to be included in your portfolio by almost all experts.
Interestingly, in most cases, many advise investing in tokens issued by exchanges. The most frequently mentioned is Binance Coin (BNB).
Sergey Khitrov, the founder and CEO of Listing.Help, spoke about this: “When mass adaptation comes, the strongest breakthrough will be made by those companies that have several large projects that stimulate each other’s development.”
On this occasion, Khitrov also mentioned Binance Smart Chain, which supports the operation of smart contracts on Binance Chain.
In general, it cannot be said that there is only one possible and correct choice of tokens in the crypto market. Those coins that look reliable today and promise benefits may lose all their advantages in a couple of months. Therefore, when looking for new profitable investments, you should rely on different sources of information and listen to your intuition.
Disclaimer. Investing in any financial asset carries the risk of losing capital. Nothing in this text can be considered an investment recommendation or an offer to buy/sell any financial instruments. For all their actions in the stock market, each investor bears full responsibility independently.
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