Top 10 Cryptocurrencies by market cap in July of last year were: Namely: Dogebone, Siacoin, Zcash, Monero, Dash, Pypystox, LTC, and Doge. At that time, the largest two Cryptocurrencies were valued in a way that could make them seem like the coins to invest in. At the time, the two best selling Cryptocurrencies were DOGE and Dash. As the value of those two coins continued to increase, so did the value of other top ten digital currencies.
Unfortunately, in late July, the value of the top ten Cryptocurrencies saw a large correction as the values of all of the top 10 Cryptocurrencies nearly saw a total collapse of over fifty percent in a matter of days. This happened in spite of the fact that a lot of people were still invested in those top ten currencies, despite the massive drop in their market cap. So, why was there such a large correction when a lot of investors were dumping those coins?
The answer is simple; not enough people were selling to create a large enough dump to cause a top 10 currency to lose its worth. It is also interesting to note that there is no single person or company that owns the majority share of any of the top 10 Cryptocurrencies. So while everyone might be thinking that they are making money through investing in stellar lens and dacoins, the truth is that they are making money through trading them amongst each other.
In order to understand why this market can never be topped, it is important to recognize how the top 10 Cryptocurrencies actually work. There are essentially two types of Cryptocurrects, these are peer to peer (PPC) and consortiums. What this means is that there are hundreds of private companies that have formed consortiums which own the leading tenryptosystems. They buy the blockchains they want from these consortiums at a discounted rate and then resell them for profit.
Let’s take for example Stellar Lumens and tether. Stellar is owned by Colony Road and is the leading lumenschain used on the mobile phone industry. It is currently one of the most profitable cryptosystems because of its low price compared to the other top 10 Cryptocurrencies. Because of this, if you wanted to get in on the ground floor with stellar lens, you would have to go through a broker or trader to get a leg up on the competition. But the truth is, this is a very arduous task. A broker or trader would need to acquire vast knowledge of all the leading lumenschain and be able to analyze which company offers the best deal.
The next two, in descending order, are Ethlance and EPC Chain. Ethlance is a relatively new project that was created by Chain Capital, it is essentially an upgrade to the existing Peer to Peer platform called Ethlance. It offers high-end benefits over the current Peer to Peer market, including a low cost investment with a faster return. This is in addition to the fact that Ethlance is one of the top 10 Cryptocurrencies, thus making it a great choice for the top 10 Cryptocurrencies list. The great thing about Ethlance is that it has the potential to see a large increase in its total market cap, which will also make it one of the top 10 Cryptocurrencies by the end of 2021.
Finally we come to our final choice for the top 10 Cryptocurrencies, and that is Binance Coin. Binance is a relatively new project that has been created by YAC Internals Limited. It aims to provide a safe and reliable platform for online trading that is accessible from a number of locations around the world. If this was not enough to attract investors, then perhaps the fact that Binance trades in both major currency pairs and multiple international currencies will. Binance Coin is also new, and despite having only been in circulation for a couple of months has already begun to show impressive growth, which means that it is one of the top 10 Cryptocurrencies by the time of this article.
The growth of Tron (the token on the main website for this project) and Binance shows that there is a real movement within the industry towards investing in more versatile tools and technologies. There will be more growth in the future for these two leading products, and it is likely that the growth of these top 10 Cryptocurrencies will also continue. However, when looking at the portfolios of these two companies, it is important to remember that they are simply two of the many tools that investors can use in their investment portfolio. So before you decide to add any of them to your own portfolio, make sure that they fit well with your overall goals and needs, as there is a lot of diversity out there.
I am Keith Rainz a content creator in Zambia. I specialize in forex and crypto trading. You can WhatsApp me via +260977770202.
