Top 6 Cryptocurrencies of November

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It’s time for you to check out the list top cryptocurrencies of the month! This content should not be understood as an investment recommendation.

Any decision must be made based on a detailed analysis, which takes into account your investment profile, objectives, planning and even currency timing, ok?

It is impossible to be sure about the future of a cryptocurrency. What we do here is to present a scenario with chances of happening given the current trend and the movement of the asset.

Let’s go to the list of promising cryptocurrencies that were featured in the month!

1. Bitcoin (BTC)

Market cap: $325.3 billion

Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. 

Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.

Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one Bitcoin for about $500. As of Nov. 15, 2022, a single Bitcoin’s price was around $16,936. That’s a growth of 3,287%.

2. Ethereum (ETH)

Market cap: $155.7 billion

Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).

Ethereum has also experienced tremendous growth. From April 2016 to the end of November 2022, its price went from about $11 to around $1,272, increasing 11,463%.

3. Tether (USDT)

Market cap: $66.0 billion

Unlike some other forms of cryptocurrency, Tether (USDT) 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.

4. U.S. Dollar Coin (USDC)

Market cap: $44.3 billion

Like Tether, USD Coin (USDC) is a stablecoin, meaning it’s backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.

5. XRP (XRP)

Market cap: $19.5 billion

Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.

At the beginning of 2017, the price of XRP was $0.006. As of November 15, 2022, its price reached $0.39, equal to a rise of 6,360%.

6. Cardano (ADA)

Market cap: $11.76 billion

Somewhat later to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification in platforms like Bitcoin. 

Cardano also works like Ethereum to enable smart contracts and decentralized applications, which ADA, its native coin, powers.

Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Nov. 15, 2022, its price was at $0.34. This is an increase of 1,609%.

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