The term "Cryptocurrency" has been thrown around a lot in the financial press over the past few years, but it's still difficult to get a grasp on what it actually means and how to evaluate whether or not it will be successful. The face value of these virtual currencies is one way to evaluate them; however, this value might fluctuate depending on supply, demand, and the general attitude of the public. According to their value on the market as of the 27th of June, the following list ranks the digital currencies from most costly to least expensive.
1. Bitcoin (BTC)
As of the 27th of June, one Bitcoin is currently worth $29,962.66 USD. Bitcoin was the first digital currency. Bitcoin has been ahead of the pack throughout the brief existence of cryptocurrencies, and it is currently the cryptocurrency with the greatest market capitalization by a wide margin. There are now also derivatives of BTC available on the market. One example of this is wrapped bitcoin, which is a token compatible with Ethereum and is pegged to the value of the original bitcoin.
2. PAX Gold (PAXG)
PAX gold is a cryptocurrency that is entirely backed by gold and is pegged 1:1 to the price of an ounce of gold. It is based on the Ethereum blockchain. In 2019, the currency was introduced as a means for investors to get their feet wet in the gold market without being restricted by the minimum purchase requirements often associated with commodities purchases. According to Paxos, each token represents a fraction of a London Good Delivery gold bar that is stored in the vaults of Brink's. These vaults are located in the United Kingdom. Coins were going for a price of $1,864.40 per on June 3rd. PAX gold's market value is only $621.97 million, despite the fact that its price is rather high.
3. Ethereum (ETH)
The price of Ethereum on June 27 was $1,778.70, which places it in third place among all various cryptocurrencies in terms of cost. Vitalik Buterin, a programmer with dual citizenship in Canada and Russia, is credited with being the first to conceptualize a new, more usable cryptocurrency, which he described in a white paper that was published in 2013. His ethereum coin began trading at a price of $0.31 on the day of its initial offering. This means that the value of ethereum has increased by a factor of 573,674% since it was first made available for purchase and sale less than ten years ago.
4. Maker (MKR)
As of the 27th of June, the price of a maker coin has risen to $1,137.42, giving the cryptocurrency a total market capitalization of around $1.112 billion. Traders can purchase and sell Maker on a variety of exchanges, including Binance, UniSwap, OKEX, and Coinbase Pro, among others. Maker is one of the most recent digital currencies, having only been introduced in 2017. The fact that each holder has the right to vote on the development of the coin, which is intended for use on decentralized finance platforms, is an interesting feature that works somewhat like the shares of a company. The coin in question is intended for use on those platforms.
5. Binance (BNB)
As of the 27th of June, the price of one binance coin was $301.17, making it the seventh most valuable cryptocurrency. According to CoinMarketCap, the cryptocurrency exchange Binance is the largest in the world. In addition, Binance supports a number of subsidiary projects, including Binance Chain, Binance Smart Chain, Binance Academy, and Trust Wallet. The Binance coin (BNB) serves as the native token of the Binance exchange and is utilized across a significant portion of the Binance ecosystem.
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