Top 10 Cryptocurrencies In June 2022

Last Updated May 30th 2022
6 Min Read

The world of cryptocurrencies is a confusing and overwhelming place for many newbies. There are thousands of cryptocurrencies with different value propositions. After scrolling through crypto ranking sites, you are probably wondering, what are the top cryptocurrencies today? 

To help you start on the right track, these are the best 10 cryptocurrencies based on their market cap. 

Bitcoin (BTC)

Market Cap: 583 billion

Bitcoin (BTC) was the first successful cryptocurrency, a factor that gave it a huge leg-up in the crypto market. 

Developed by an anonymous person or entity called Satoshi Nakamoto, Bitcoin uses blockchain technology, a decentralized ledger that runs on thousands of computers worldwide. For a Bitcoin transaction to be completed, cryptographic puzzles have to be solved, in what is commonly called Proof-of-Work. It is this process that makes Bitcoin transactions fraud-proof. 

Bitcoin has been on a consistent uptrend since it launched in 2009. In early 2017, Bitcoin was trading at $1000, and currently, one Bitcoin was going for $30,700. 

Check Out: Bitcoin (BTC) Price Prediction

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Ethereum (ETH)

Market Capitalization: $230 billion

Another top cryptocurrency is Ethereum. It is one of the most sophisticated cryptocurrencies in the market today and ranks second in market capitalization. Ethereum is essentially a smart contracts platform where developers can create contracts that automatically execute when certain conditions are met. This functionality has made it a favourite for launching tokens, including NFTs, among many other applications. 

Ethereum has recorded tremendous growth since it launched. In April 2016, Ethereum was trading at $11. Currently, Ethereum is trading at $1,900, representing a growth of over 17,000%.

Don't Miss: Ethereum (ETH) Price Prediction

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Tether (USDT)

Tether is a stable coin and trades 1:1 to the dollar. You may be wondering, how does USDT qualify as a top 10 cryptocurrency in June? Well, besides betting on volatility, there are many other ways to make money in the cryptocurrency market. For instance, some platforms allow you to invest your USDT and earn a stable income. For example, on DeFi platforms, you can lend USDT and earn interest on it without exposure to the risks and volatility of the crypto market. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Binance Coin (BNB)

Binance Coin (BNB) is a popular cryptocurrency used to pay fees on the Binance exchange. 

Binance is the largest cryptocurrency exchange globally by volume, and it is not surprising that Binance Coin has risen to become a top 10 cryptocurrency by market cap in a few years. 

Besides paying fees across the Binance range of products, Binance Coin is designed to be deflationary. Every quarter, millions of Binance Coins are burned, a factor that has put upside pressure on Binance Coin since it launched. 

When it entered the market in 2017, Binance Coin was trading at $0.10. At the time of writing, Binance Coin was trading at $315, representing an ROI of 273,000%. 

Read Also: Binance Coin (BNB) Price Predictions

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

US Dollar Coin (USDC)

Market Capitalization: 53.6 billion

The US Dollar Coin (USDC) has a pretty similar working mechanism to Tether USDT. It is a stable coin backed 1:1 by the United States dollar. While you can’t count on it to give you returns driven by market volatility, USDC has still seen its market cap balloon over time, to become a top 10 cryptocurrency by market capitalization. 

That’s because the USDC coin forms an important component to a cryptocurrency investment strategy. You can use it to store value in market downturns or earn a passive income through lending in DeFi. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Terra (LUNA)

Market Capitalization: $1.25 billion

Terra (LUNA) is a blockchain that is used for running algorithmic stable coins. Terra’s native token LUNA is used as the peg that keeps the stable coins in the Terra ecosystem stable. 

The working mechanism is simple. Anytime the value of a stable goes up, users have an incentive to burn LUNA and, in the process, create more of the stablecoin. Conversely, when the stable coin drops in value, users have an incentive to burn more stable coins and mint LUNA tokens. In essence, as the adoption of Terra stable coins grows, so does the value of LUNA. 

Check Out: Terra (LUNA) Price Prediction

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Solana (SOL)

Market Capitalization: $15.7 billion

Solana is a new revolutionary blockchain platform that allows for the execution of smart contracts and offers high transaction speeds. Solana uses a new consensus mechanism called Proof-of-History that allows it to potentially hit up to 50k transactions per second.  

Since it launched in 2020, Solana has taken the market by storm and rose through the ranks to become one of the most valuable cryptocurrencies. Today, it commands a sizeable share of the DeFi and NFT markets, and its importance is growing. 

Solana entered the market in 2020 for $0.77 per SOL token. As of writting, Solana was trading at $46, an increase of 5,800%. 

Don't Miss: Solana (SOL) Price Prediction

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Ripple (XRP)

Market Capitalization: $19 billion

Ripple (XRP) is a cross-border payments cryptocurrency that was created by the founders of Ripple, an American fintech company. XRP is used as a settlement mechanism in the banking system, cutting down on money transfer times and drastically cutting costs. 

This functionality, coupled with growing adoption, has helped XRP remain a valuable cryptocurrency despite the negative press after the SEC sued Ripple founders.  

To give you an idea of how XRP price movement, in April 2017, XRP was trading at $0.006. Currently, XRP is trading at $0.40. That’s an increase of 6,500%. 

Read Also: Ripple Price Prediction

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cardano (ADA)

Market Capitalization: $17 billion

Cardano was one of the first successful cryptocurrencies to develop a successful Proof-of-Stake algorithm. By using hard science, Cardano developed a PoS algorithm that is secure, scalable and maintains decentralization. Cardano’s Proof-of-Stake algorithm also lowers energy usage, which is good for the environment. 

Recently, Cardano introduced smart contracts, which means decentralized applications can now run on the Cardano network. 

In April 2017, Cardano was trading at $0.02. At the time of writing, ADA was trading at $0.52, increasing by 2,500%. 

Don't Miss: Cardano (ADA) Price Prediction

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Avalanche (AVAX)

Market Capitalization: $7 billion

Avalanche (AVAX) is an Ethereum competitor that has built a name for network stability and high transaction speeds. Avalanche can handle upwards of 4500 transactions per second. These scaling capabilities have seen Avalanche not just grow to become a top 10 cryptocurrency by market cap, but a profitable cryptocurrency investment as well. 

For context, AVAX was trading at $4.63 in April 2020. Currently, Avalanche is trading at $27. That’s a value increase of 480%. 

Check Out: Avalanche (AVAX) Price Prediction

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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