by Aratrika Dutta
November 10, 2021
Cryptocurrencies are becoming ubiquitous, and are dominating the fintech industry in the current age. The most popular cryptocurrencies are alluring to investors who are investing in diverse cryptocurrencies to expand their portfolios. This article lists the top 10 most profitable cryptocurrencies to buy in November 2021.
Top Most Profitable Cryptocurrencies
Market Cap: US$1,254,991,588,784
The king of all cryptocurrencies, Bitcoin, is the first of its kind to have the highest liquidity value. This cryptocurrency aims at becoming a fully decentralized, global, peer-to-peer digital cash with no regulations. Despite the volatile nature of the market, Bitcoin is the most stable one. While the name is synonymous with cryptocurrency, Bitcoin’s popularity, demand, and adoption are expected to grow manyfold in the coming years. The future of the digital token is already being shaped with companies opening to the idea of accepting Bitcoins for payment.
Market Cap: US$558,236,302,934
Ethereum was the first cryptocurrency to introduce smart contracts that allow developers to create desktop and mobile decentralized applications powered by blockchain technology. Ethereum has maintained its position in the top cryptocurrencies list ever since and has a loyal team of investors who vouch for it. This means Ethereum has a better chance of remaining stable after Bitcoins.
Market Cap: US$105,413,735,845
If you own either Bitcoins or Ethereums and want to diversify your portfolio, look no further than Binance Coin. The parent company, Binance, has a strong business history that has created a useful ‘utility token’. The value of Binance Coin comes from its usefulness and its demand which is for traders to use Binance Coins to buy other cryptocurrencies on Binance Exchange. It is worthy to note that Binance Exchange is one of the world’s fastest-growing cryptocurrency exchanges and with every transaction done on the platform using Binance Coins, it is only becoming stronger.
Market Cap: US$73,812,646,869
This is an affordable cryptocurrency that is becoming a cult favorite at a rapid pace. Since its inception in 2015, it has become a strong player in the market with its Ouroboros blockchain, which means having two blockchains instead of one. Here, one blockchain will manage general ordinary transactions while the other will manage smart contracts. The logic behind this is the ability of Cardano to remain scalable and fast as two types of transactions will not slow it down. Another interesting fact about Cardano is that most of the people who have invested in this cryptocurrency are from Japan. Hence, Cardano is also known as the “Japanese Ethereum” because it uses the Proof of Stake algorithm which Ethereum has been planning to do for a long time now.
Market cap: US$73,844,211,171
Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.
Market cap: $72,444,403,614
Developed to power decentralized finance (Defi) uses, decentralized apps (DApps), and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform. Launched in 2020, SOL’s price started at US$0.77. On October 29, 2021, its price was almost US$201.91, experiencing a gain of more than 26,000%.
Market Cap: US$58,274,904,637
XRP was created by the founders of the digital payment processing company Ripple. It serves as a crypto PayPal of sorts, allowing exchanges between both crypto and fiat currencies. Ripple is investing heavily in non-fungible token projects that use XRP Ledger, which is a public blockchain. This investment suggests Ripple is positioning itself as another ‘Ethereum killer,’ according to Inside Bitcoins.
Market cap: $49,860,657,510
Cryptocurrencies may use any number of blockchains. Polkadot (and its namesake crypto) aims to integrate them by creating a cryptocurrency network that connects the various blockchains so they can work together. This integration may change how cryptocurrencies are managed and have spurred impressive growth since Polkadot’s launch in 2020. Between September 2020 and October 2021, its price grew about 1,400% from US$2.93 to US$44.19.
Market Cap: US$35,930,731,272
The fact that Dogecoin still stands strong even after not being taken seriously is proof of its dominance. First, Redditors spiked the price to new heights in early 2021 as a way to prevent the speculated short-selling of Dogecoins by many Wall Street hedge funds. And then, Elon Musk called himself the “Dogefather” promoting this cryptocurrency further. While many argue the legitimacy of this coin, Dogecoin continues to have its share of market value.
Market Cap: US$16,540,804,342
Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (Defi) tokens. An example of an automated market maker (AMM), Uniswap launched in November 2018 but has gained considerable popularity this year thanks to the Defi phenomenon and associated surge in token trading. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges.