In moments of true innovation, we reach for an analogy to the world we know. In DeFi, we go for analogies to traditional finance. But all that changed as investors found the next big thing in the plethora of digital currencies.
A revolutionary generation of financial institutions is here. It generates an autonomous financial infrastructure free of the established layers of costs, bothers, waste, speed, transaction volume, and skulduggery that plague financial services. These revolutionary financial instituitions are blue chip cryptos. So what exactly are blue chip cryptos? And why should you heed to them? Keep reading to find out!
What is the Meaning of Blue Chip Cryptos?
First, let’s define “blue chip.” You’ve probably come across the term blue chip in the corporate world. Blue Chip refers to financially stable companies with inherent profitability mechanisms even in difficult economic times.
A corporation that’s widely acknowledged as a high-performer over a long period can also be called ‘blue-chip.’ Reliability and dominance in the respective industry also account for the Blue Chip status. It’s comparable to when poker chips came in three colors: blue, red, and white, with blue being the most valuable.
In crypto, blue chips allude to blockchain currencies with at least $2 billion market capitalization. ‘Blue chip crypto can be a more significant challenge because of the innovative and unique nature of the industry itself.
There’s a need to contrast the ordinary and DeFi coins when it comes to crypto blue chips. Though both utilize the blockchain concept, the normal ones refer to the pioneer coins. However, DeFi coins with more than just stores of value are on the rise and could perhaps overshadow the former soon.
Why Should you Pay Attention to Blue Chip Cryptos?
Simply put, blue chip cryptos represent stability and security in an otherwise volatile market. Their sheer size and longevity reassure investors that they won’t lose out on potential gains as the industry continues to grow. Moreover, investors believe that these currencies have already weathered the storm and are well-positioned to take advantage of the next wave of growth.
The 5 Latest Blue Chip Cryptos
Let’s start by examining the current market caps in USD, shall we?
What you in the images are the latest blue chip cryptos. Today’s cryptocurrency prices indicate the total crypto market volume over the last 24 hours has an increase of 7.27%. Bitcoin’s dominance is 43.03%, a rise of 0.63% over the day. Now, let’s unpack these coins.
- Bitcoin (BTC)
BTC
Market Cap:$788,190,366,273
Price in USD: $41,531.21
24h volume (USD): $33,217,649,388
Circulating Supply: 18,978,268 BTC coins
The grandfather of all cryptocurrencies needs no introduction. Bitcoin was the first-ever digital asset and still remains one of the most valuable. Satoshi Nakamoto originally described decentralized cryptocurrency in the 2008 whitepaper before its launch in 2009.
Bitcoin is a peer-to-peer internet currency, which means that all transactions occur between equal, independent network participants without the need for an intermediary to allow or facilitate them.
Bitcoin introduced the world to a genuinely decentralized financial system based on a novel Proof-of-Work (PoW) mining and consensus technology. Through mathematical puzzles, the limited supply of 21 million BTC protects the value of bitcoin users’ investments from random inflation.
Bitcoin’s market cap is huge in any financial perspective, accounting for almost a tenth of the total gold market. It has millions of users since it grows at the same rate as the internet.
Because of Bitcoin’s popularity and market dominance, it’s clear that more decentralized projects will create sidechains on the Bitcoin platform. It will increase the total number of transactions per second and give Bitcoin a real edge over other payment systems in the crypto space.
Bitcoin is almost identical to cryptocurrency, which means you can buy it on nearly every cryptocurrency exchange – both for fiat money and other cryptocurrencies. BTC trading is available in Binance, Coinbase Pro, Kraken, Huobi Global, Bitfinex.
- Ethereum (ETH)
ETH
Market Cap: $326,470,872,321
Price in USD: $2,723.20
24h volume: $15,951,450,588
Circulating Supply: 119,885,008 ETH coins
Ethereum is an open-source, decentralized blockchain system with its coin, Ether. ETH performs as a platform for various cryptocurrencies and decentralized smart contracts execution.
The Ethereum network has eight co-founders, but Vitalik Buterin is the most famous since he authored the original white paper that first described Ethereum in 2013. The Ethereum Foundation officially launched the blockchain on July 30, 2015. There have been several updates on the blue chip crypto network like Constantinople” on February 28, 2019, “Berlin” on April 14, 2021, and the “London” hard fork on August 5, 2021.
Ethereum is the second-largest cryptocurrency by market cap, and it’s responsible for the explosive rise of the NFT market. It’s also one of the most versatile cryptocurrencies, with a wide range of applications beyond simple payments.
Blockchain technology powers Ethereum and allows developers to build decentralized applications (dApps). On the other hand, the Ethereum virtual machine (EVM) monitors smart contracts by removing untrusted code. A decentralized robot governs the ecosystem through smart contracts instead of a central entity.
The Ethereum blockchain is the most active globally, with over a million unique users. The blue chip crypto is leading the DeFi space by a mile, but you should watch closely as we advance for project elements. ETH has a wide range of use cases, from DeFi to NFTs and everything in between.
Ethereum is available on most major exchanges, including Binance, Coinbase Pro, Kraken, Bitfinex, and Gemini.
- Tether(USDT)
Tether
Market cap: $80,047,314,692
Price in USD: $1.00
24h volume (USD): $69,371,317,534
Circulating Supply: 80,028,316,059 USDT coins
Tether is a stablecoin pegged against the US dollar at a one-to-one ratio. That means that the US dollar held in reserve backs every Tether coin in circulation. This makes it a safe haven during times of volatility and ensures that it protects your investment from price fluctuations.
Tether was one of the first stablecoins on the market, and it remains the most popular to date. In recent times, the crypto market uses stablecoins as an inflation hedge, compared to keeping fiat currency in a savings account averaging 0.06%. Additionally, users can lend their stablecoins and earn yields ranging from 3% to as high as 20%.
Tether was founded in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars. The company behind USDT is headquartered in Hong Kong but registered in the British Virgin Islands.
USDT is available on most major exchanges, including Binance, Bitfinex, Kraken, and Huobi.,
- BNB
Binance Coin
Market cap: $64,991,731,494
Price in USD: $393.61
24h volume (USD): $2,114,128,437
Circulating Supply: 165,116,761 BNB coins
Binance coin is the original token of the BNB exchange. It was created in August 2017 and is used to pay trading fees. Binance is bringing cryptocurrency investing and trading to the top position of our new financial reality.
Binance’s quest for expansion is one of its remarkable competitive advantages. Even though Binance began as a crypto exchange in 2017, it has expanded its services to include many industries. According to BNB’s website, the company’s strategy is to become the blockchain ecosystem’s infrastructure services provider.
As the dedicated utility token of the Binance exchange, the most straightforward way to acquire BNB coins would be to purchase them through Binance. The original exchange offers the broadest range of trading pairs for BNB and the best BNB exchange rates.
The popularity of the BNB to PHP exchange rate has soared since the advent of Play2Earn games.
- USD Coin (USDC)
USD Coin
Market cap: $52,433,985,406
Price in USD: $1.00
24h volume (USD): $4,618,034,304
Circulating Supply: 52,433,865,595 USDC coins
USDC is a regulated stablecoin created by the CENTRE Consortium. Circle and Coinbase, two of the most well-known names in the cryptocurrency space make up the consortium.
One of the primary goals of CENTRE is to create a coinbase global standard. It will allow for greater liquidity and easier cross-border transactions. USDC is currently available on over 100 exchanges worldwide.
USDC was created in September 2018 and is an ERC20 token built on the Ethereum blockchain. The developers designed the coin to be a digital dollar backed by the US dollars held in reserve.
Stablecoin developers claim that, besides offering a safe haven for crypto traders during times of volatility, it can also allow businesses to accept payments in digital assets, shaking up a variety of sectors such as decentralized finance and gaming.
Coinbase is one of the most enthusiastic exchanges that support USDC. The USD Coin is also available for purchase and trading on exchanges such as Poloniex, Binance, OKEx, and Bitfinex and decentralized exchanges like Uniswap.
Which is the Best Blue Chip Crypto to Buy in 2022?
All these cryptocurrencies have unique technology, which sets them apart. Being the most established in the cryptocurrency space, Bitcoin is a safe haven for the store of wealth compared to other cryptos.
However, one thing that’s common in all the blue chip coins is that they have all demonstrated a significant return on investment, whether during the formal ICO times, at the beginning of the project’s life, last year, or the past month.