Top Cryptocurrencies to Invest in 2018
Explosive Growth in a Volatile Market
The cryptocurrency market has experienced explosive growth in 2018, with many coins experiencing gains of 50% or more in just 24 hours. However, this growth has not been uniform across the board, with some coins performing much better than others.
Bitcoin's Dominance
Despite the volatility, Bitcoin (BTC) remains the dominant force in the cryptocurrency market. In April 2018, Bitcoin's price rose 33% against the US Dollar, making it the best month of 2018 for the world's largest cryptocurrency. Over the past year, Bitcoin has risen 1,318%, while Ethereum (ETH) has risen 9,162% and Ripple (XRP) has risen a staggering 36,018%.
Emerging Altcoins
While Bitcoin remains the top choice for many investors, there are a number of newer cryptocurrencies that have the potential to achieve similar monster gains. These coins, often referred to as "altcoins," offer a variety of features and benefits that appeal to different investors. For example, Monero (XMR) is a privacy-focused cryptocurrency that has gained popularity among users who value anonymity. Cardano (ADA) is a blockchain platform that is designed to be scalable and efficient, making it attractive to developers and businesses. Binance Coin (BNB) is the native token of the Binance cryptocurrency exchange, which is one of the largest in the world.
Factors to Consider
When choosing a cryptocurrency to invest in, there are a number of factors to consider, including: * **Market capitalization:** This is the total value of all the coins in circulation. A higher market capitalization indicates a more established coin. * **Trading volume:** This is the amount of trading activity that is taking place for a coin. A higher trading volume indicates a more liquid coin. * **Team and technology:** The team behind a coin and the technology that it is based on can have a significant impact on its long-term success. * **Use case:** The purpose of a coin can also be an important factor to consider. Some coins are designed for general use, while others are designed for specific purposes, such as smart contracts or payments.
Top Cryptocurrencies for 2018
Based on the factors discussed above, here are a few of the top cryptocurrencies to consider investing in for 2018: * **Bitcoin (BTC)**: The dominant force in the cryptocurrency market, Bitcoin is a solid choice for investors who are looking for a stable investment with the potential for growth. * **Ethereum (ETH)**: The second-largest cryptocurrency by market capitalization, Ethereum is a versatile platform that is used for a variety of applications, including smart contracts and decentralized applications (dApps). * **Ripple (XRP)**: XRP is the native token of the Ripple network, which is a payment and settlement network that is designed to be faster and more efficient than traditional banking systems. * **Litecoin (LTC)**: Litecoin is a lightweight version of Bitcoin that is often used for everyday transactions. * **Cardano (ADA)**: Cardano is a scalable and efficient blockchain platform that is designed to be developer-friendly. It is important to note that all investments carry risk, and cryptocurrencies are no exception. Before investing in any cryptocurrency, it is important to do your own research and understand the risks involved.
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