Top 20 Cryptocurrencies In 2022, Summarized

Top 20 Cryptocurrencies summarized in 1 sentence.

With the vast number of cryptocurrencies out there, it's no surprise that many people get overwhelmed when looking for a project to invest in.

Hello there, and welcome to HotNaija, your one-stop destination for the latest entertainment news, celebrity gossip and stories, lifestyle content, and cryptocurrency news. Today we'll be summarizing the top current 20 cryptocurrencies as efficiently as possible. So grab a drink and get ready to learn. Let's dig in!

(1). Bitcoin (BTC)

Bitcoin was the first cryptocurrency to appear on the market. It has managed to create a global community and give birth to an entirely new industry of millions of enthusiasts who develop, invest in, trade, and use Bitcoin and other cryptocurrencies in their everyday lives.
Market Cap – $1.22 Tr
Market Dominance – 43.07%
Price – $64,836

(2). Ethereum (ETH)

According to its founder – Vitalik Buterin, in a 2013 whitepaper, Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, "Ether."
Market Cap – $560 Bn
Market Dominance – 19.71%
Price – $4,732

(3). Binance Coin (BNB)

Founded by the biggest cryptocurrency exchange globally – Binance, Binance Coin is an integral part of the many successful functioning of Binance sub-projects.
Market Cap – $104 Bn
Market Dominance – 3.68%
Price – $626

(4). Tether (USDT)

Tether was initially launched in 2014 as a Realcoin before converting to a stablecoin (stable-value cryptocurrency). Its stated purpose is to combine the unrestricted nature of cryptocurrencies – which can be sent between users without a trusted third-party intermediary.
Market Cap – $73 Bn
Market Dominance – 2.60%
Price – $1.000

(5). Solana (SOL)

Solana is a highly functional open source project that banks on blockchain technology's permissionless nature to provide decentralized finance (DeFi) solutions.
Market Cap – $71 Bn
Market Dominance – 2.53%
Price – $237

(6). Cardano (ADA)

Cardano is a proof-of-stake blockchain platform and open-source project that says its goal is to allow "changemakers, innovators and visionaries" to bring about positive global change and create a more secure, transparent, and fair society.
Market Cap – $69 Bn
Market Dominance – 2.44%
Price – $2.87

(7). XRP (XRP)

XRP was created by "Ripple" to be a speedy, less costly, and more scalable alternative to both other digital assets and existing monetary payment platforms like SWIFT.
Market Cap – $57 Bn
Market Dominance – 2.00%
Price – $1.212

(8). Polkadot (DOT)

Polkadot is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types (not just tokens), thereby making a wide range of blockchains interoperable with each other.
Market Cap – $47 Bn
Market Dominance – 1.674%
Price – $48.38

(9). Dogecoin (DOGE)

Forked from Litecoin in 2018, DOGE is an open-source digital currency envisaged to be a fun and light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was initially based on a meme.
Market Cap – $34 Bn
Market Dominance – 1.22%
Price – $0.2618

(10). USD Coin (USDC)

With an aim to stand head and shoulders over competitors in several ways, USDC is a stable coin pegged to the US dollar on a 1:1 basis and hopes to create an ecosystem where USDC is accepted by many worldwide wallets, exchanges, service providers, and dApps as possible.
Market Cap – $34 Bn
Market Dominance – 1.210%
Price – $1.001

(11). SHIBA INU (SHIB)

The renowned "DOGECOIN KILLER" was anonymously created in 2020, with an aim to inspire millions of people all over the world to invest money into tokens with the dog's (Shiba Inu) image on it.
Market Cap – 29.72 Bn
Market Dominance – 1.04%
Price – $0.00005412

(12). Terra (LUNA)

Terra is a blockchain protocol founded in January 2018 that uses fiat-pegged stablecoins to power price-stable global payments systems. It does this with a combination of price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and other fast and affordable settlements.
Market Cap – $24.38 Bn
Market Dominance – 0.86%
Price – $51.09

(13). Avalanche (AVAX)

Aiming to unseat Ethereum as the most popular blockchain for smart contracts, Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks.
Market Cap – $19.35 Bn
Market Dominance – 0.68%
Price – $87.95

(14). Litecoin (LTC)

Based on BTC's protocol (although differing in terms of hashing algorithm used) LTC is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology.
Market Cap – $18.20 Bn
Market Dominance – 0.65%
Price – $263.68

(15). Chainlink (LINK)

Founded in 2017, Chainlink is a blockchain abstraction layer that allows blockchains to securely interact with external data feeds, events, and payments through a decentralized oracle network that enables universally connected smart contracts.
Market Cap – $16.37 Bn
Market Dominance – 0.57%
Price – $35.30

(16). Uniswap (UNI)

Existing to create liquidity for the DeFi square, Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.
Market Cap – $16.13 Bn
Market Dominance – 0.57%
Price – $25.78

(17). Wrapped Bitcoin (WBTC)

Launched in 2019, WBTC is a tokenized version of BTC running or the ETH blockchain, backed up by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians, ensuring that its price is pegged to Bitcoin at all times.
Market Cap – $15.44 Bn
Market Dominance – 0.54%
Price – $64,638

(18). Binance USD (BUSD)

BUSD is a 1:1 USD-backed stablecoin issued by the renowned Binance was launched in late 2019, with an aim to meld the stability of the dollar with blockchain technology.
Market Cap – $13 Bn
Market Dominance – 0.47%
Price – $0.9988

(19). Bitcoin Cash (BCH)

With the same way physical money is handed directly to the person being paid, BCH is a peer-to-peer electronic cash system that aims to become a globally sound money with fast payments, micro fees, privacy and high transaction capacity.
Market Cap – $12.77 Bn
Market Dominance – 0.45%
Price – $675.78

(20). Algorand (ALGO)

Invented to speed up transactions and improve efficiency, Algorand is a self-sustaining, decentralized blockchain-based network that supports a wide range of applications.
Market Cap – $12.581 Bn
Market Dominance – 0.44%
Price – $2.015

Well there you have it. Make sure you check out our other blog posts for more information about the crypto market and trending entertainment headlines. Thanks for reading!