The World’s Top Cryptocurrencies:

From Humble Beginnings

Cryptocurrencies have come a long way since Satoshi Nakamoto launched Bitcoin in 2009. Blockchain technology has evolved into more than just technology for moving money. It has become a thriving and exciting ecosystem of projects, all offering something slightly different in order to get your attention and they are designed to build amazing technologies for everyone to use. Some exciting advances have been made, such as smart contracts, initially built on the Ethereum blockchain. Staking, which allows users to hold funds to earn rewards similar to how you’d earn interest in a bank account, has become extremely popular. Digital ownership has become a big thing now, so NFT marketplaces, for instance are extremely popular. With all this diversity in the arena, it’s sometimes hard to find reliable information about how and when to invest. Though this article is not given as investment information, it will give you information about some of the most successful cryptocurrencies around and why they are popular. We will also provide comparisons from the past to illustrate important points in crypto history.

Bitcoin

Bitcoin is famous as being the first of all the cryptocurrencies to be developed and used by the public. Bitcoin is a proof-of-work based cryptocurrency that generally requires specialist computing equipment, known as ASIC miners, to solve high-difficulty maths problems in return for a reward in the form of Bitcoins. Other mining hardware such as high-powered GPU’s can be used but is not as efficient as using an ASIC, as they are designed to do a single task very well whereas a GPU is a multi-purpose piece of hardware. Bitcoin, still today, is the most popular digital currency. Bitcoin has survived several “so called” crashes and recovered in value many times. Bitcoin has become a favourite target for seasoned traders as the market volatility can be a great way to make short-term gains.

See in the chart how Bitcoin’s price reacted to the previous halving event in 2017. A price increase followed by a downturn. As you can also see from the chart, the recent crash after the large price-jump in 2021, post-halving, is a mirror image of the previous one, just much larger. At the time of writing, Bitcoin has recovered to approximately $45,000. Don’t forget this is an asset that started with a comparable price of $0.0001.

Bitcoin has proven to be popular for a number of reasons. The asset is widely available nowadays and the software you can download is stable and easy to use. Bitcoin core offers both novice and advanced users options to deploy their own Bitcoin node easily and send Bitcoins to whomever they want with the click of a button.

Ethereum

Ethereum, is of course, the second on the list. A cryptocurrency that has made so much more possible than Bitcoin. Ethereum was conceived as a blockchain for developers to build upon. Ethereum enables developers to create smart contracts with all kinds of functionality, in essence, creating limitless possibilities for what can be done using blockchain technology. Ethereum was co-founded by Vitalik Buterin and Gavin Wood. Both guys have backgrounds in technology and cryptocurrency before this project. Ethereum has gone through a number of developmental upgrades and fixes over its lifetime and now, it is moving from proof-of-work to proof-of-stake consensus, hoping to lower the networks carbon footprint and reduce gas costs for transactions. Ethereum’s price has been historically, closely pegged to Bitcoins, but recently it showed signs of breaking away. If this happens it will truly be the dawn of a multi-digital-currency age.

Could Ethereum be decoupling from Bitcoin right now?

Since the London hard fork went live on the Ethereum network on the 5th of August 2021, the price has improved. The hard fork brought in several new upgrades including a rebalancing of the way fees are calculated. Now would be a great time to see a decoupling and Ethereum to begin on its own path, unaffected by Bitcoin’s price.

As Ethereum switches over to PoS, the price may fluctuate and present decent opportunities for short-term gains. Obviously, staking Ethereum will be a great way to earn a residual income. Many Ethereum fans believe ETH will one day surpass Bitcoin and become the world’s most popular and successful cryptocurrency.

Binance Coin

Binance Coin has exceeded expectations for those that developed it. Starting as a basic utility token to support infrastructure and trading, it has now become a commonly traded asset in its own right. Currently 4th by market cap at $54.64 billion at the time of writing. Surpassed only by Bitcoin, Ethereum and Tether by market cap. Binance Coin (BNB) is now the backbone of the Binance platform and is connected with almost every transaction in some way.

After holding a steady price for several years, varying between $10 and $20, BNB began to rise in popularity, shooting up the price to an ATH of $691. Whether paying trading fees or receiving reward for staking, BNB is very popular now. BNB also exhibits fairly tight correlation to BTC and is not expected to show signs of decoupling any time soon.

Watching the Bitcoin price could be a good way to gauge the price of BNB going forward. BNB’s lower price is attractive as an entry-level asset that can offer a way in the those new to trading cryptocurrency. Binance is a popular exchange because it makes it easy for anybody to get started. Their utility token is another sign of their great success.

Franklin

Franklin, traded as FLy, is another fantastic utility token. This token unlocks many benefits for its holders. The token was created as a consequence of VRM’s creation of Black Ocean, a crypto financial services provider. The FLy token is the core mechanism that connects and drives the ecosystem of Black Ocean. Their services range from escrow and market making services through to dark liquidity pool and liquidity mining provision. They are bringing to market new and exciting products all the time, recently they launched their token launchpad, next is the NFT marketplace! They are on a roll and show no signs of slowing down, if anything they’re picking up pace. Franklin hit a daily trading volume ATH in early 2021 with $25.944 billion.

Renewed interest in Franklin due to expanding services and investment has been noticed in the market price recently. It’s also worth noting that FLy does not show a strong correlation to BTC.

FLy/Tether price chart
Source: TradingView

Looking at FLy objectively, it seems like now is a great time to add this asset to your portfolio, with such an attractive price and promising future, it could turn out to be a fantastic investment for long-term plays. Staking your FLy holdings can unlock access to VRM insights and staking 10,000+ unlocks VRM trading signals, amazing benefits available just for staking your FLy. The whole Black Ocean ecosystem is driven forwards by the team behind VRM. The VRM team, having years of financial market and cryptocurrency trading experience, consolidate their knowledge and experience into this exciting range of products.

We hope that you’ve found this article easy to follow and useful. If you have any further questions or want to learn more about our native FLy token, feel free to join our official Telegram Global community channel. Don’t miss our news and new products launching – join FLy and BO Newsletter.

At VRM Research, we provide regular investment analysis of the cryptocurrency markets in cooperation with our trading department. Check it out and don’t miss the newest trends and developments in the crypto space.

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