In a previous post, we talked about the top 10 cryptocurrencies to buy in August, and as the month comes to an end, we are looking to September and I have carefully written the best coin to invest in ahead.
Cryptocurrencies continue to gain popularity amid the market crash. More people are getting interested in the trend and are looking to invest. With the large list of cryptocurrencies available out there, it might be difficult to make a proper choice as to where to put your money.
It is always advisable to conduct your research and check facts before investing in any crypto. I have organized this list according to their market cap. First of all, let us define what a crypto market cap is.
What is Crypto Market Cap?
In simple term, the market cap can be explained to be the total value of all the coin that has been mined. The formula for calculating the market cap of crypto remains the same. Just multiply the total number of that coin in circulation by the price of each coin, the resulting figure is the market cap.
Now that we have understood what a market cap is, let us move on to the main point. The list of top 10 cryptocurrencies to invest in in September includes the likes of Bitcoin, Ethereum, Cardano, Tether, Dogecoin, Polkadot, e.t.c.
Top 10 Cryptocurrencies to invest in September 2022
- Bitcoin (BTC). Market Cap $388.59 billion
- Ethereum (ETH). Market Cap $192.762 billion
- Tether (USDT). Market Cap $67.587 billion
- USD Coin (USDC). Market Cap $52.2 billion
- XRP (XRP). Market Cap $16.429 billion
- Cardano (ADA). Market Cap $14.997 billion
- Solana (SOL). Market Cap $11.425 billion
- Dogecoin (DOGE). Market Cap $8.517 billion
- Polkadot (DOT). Market Cap $7.790 billion
- Binance Coin (BNB). Market Cap $7.04 billion
Bitcoin (BTC). Market Cap $388.59 billion
Since it was created in 2009 by the mysterious person “Satoshi Nakamoto,” Bitcoin has slowly taken over the world of cryptocurrency and has cemented its place as the top cryptocurrency out there. The price has grown over the years and as of the time of writing this post, it is currently trading at $19,652 according to data from CoinMarketCap.
Back in November 2021, Bitcoin experienced its all-time high, reaching a whopping $68,000. Since then, its price has been dropping which makes it a very volatile asset. Bitcoin has a market cap of $388.59 billion.
Learn more about Bitcoin in this post.
Ethereum (ETH). Market Cap $192.762 billion
Known as the second most popular crypto after Bitcoin, Ethereum has been seen by many as the currency of the future. It was created in 2015 and it has also enjoyed its portion of growth since then. Ethereum works well with smart contracts and lots of other cryptos including NFTs are built on the Ethereum blockchain.
Ethereum had an upward growth in August after the news about the merger started trending. In mid-August, it traded at $1,982 and has dropped since then. ETH is currently trading at $1,484 as of the time of writing this post. Ethereum has a market cap of $192 billion.
Learn more about Ethereum in this post.
Tether (USDT). Market Cap $67.587 billion
Tether is known as the most popular stablecoin in the market. Unlike other cryptos, it is not subject to volatility. The price of USDT is pegged to top fiat currencies like U.S dollars, Pounds, and Euros.
If you are not comfortable with the volatility of the crypto market, then Tether (USDT) should be the best option for you to invest in. It was first created in 2014 and was first distributed on the Bitcoin network as a real coin in 2015. USDT has a market cap of $67 billion as of the time of writing this post.
USD Coin (USDC). Market Cap $52.2 billion
Similar to USDT, USD Coin is also a stablecoin that is not subjected to market volatility. It is a fiat-collateralized ERC-20 token, which means it is distributed on the Ethereum blockchain.
The price of USDC is also pegged to that of popular fiat currencies like U.S dollars, Pounds, and Euros. It was first launched in September 2018 and it has gradually gained popularity in the crypto market. USDC has a market cap today of $52 billion.
XRP (XRP). Market Cap $16.429 billion
In 2011, Ripple (XRP) was created by David Schwartz, Jed McCaleb, and Arthur Britto. XRP is a cryptocurrency that runs on the XRP ledger and it is used as a utility token on the Ripple payment system.
Whenever a user initiates a transaction on the Ripple network, the network deducts an amount of XRP as a service fee. Today, XRP trades at $0.322 and has a market cap of $16.429 billion.
Cardano (ADA). Market Cap $14.997 billion
Cardano can be seen as the biggest rival to Ethereum. First of all, it was created by Charles Hoskinson, the Co-founder of Ethereum in 2017 and it is popularly known for adopting the proof-of-stake validation which Ethereum is going to adopt in its Ethereum 2.0 upgrade.
Just like Ethereum, Cardano also enables smart contracts, DApps, and NFTs and is powered by its native token ADA. Today Cardano trades at $0.4423 and has a market cap of $14 billion. In September 2021, it reached its all-time high of $3.
Solana (SOL). Market Cap $11.425 billion
Solana was launched in 2017 by Anatoly Yakovenko. It was created to help power DeFi (Decentralized Finance). Just like Cardano and Ethereum, it makes use of Dapps (Decentralized Apps) and also smart contracts.
Today, Solana trades at $31 according to metrics from CoinMarketCap and also has a market cap of $11 billion.
Dogecoin (DOGE). Market Cap $8.517 billion
Dogecoin has grown to be one of the top cryptocurrencies in the market. It was developed as a joke by Jackson Palmer in 2013 who decided to create a payment system and is now the most popular meme coin. Doge has an unlimited number that can be created which leaves it vulnerable to inflation as the supply increases.
Today, Dogecoin trades at $0.0618 and has a market cap of $8 billion.
Polkadot (DOT). Market Cap $7.790 billion
According to this post on Cointelegraph, “The Polkadot crypto project is a next-generation blockchain that attempts to promote a heterogeneous multi-chain framework.”
It is a blockchain network that is built to enable Web 3.0. Polkadot creates a crypto network that enables various blockchains to work together. It was listed on Coinbase in June 2021.
On November 4th, 2021, it reached its all-time high of $54. At the time of writing this post, Polkadot is trading at $7 and has a market cap of $7 billion.
Binance Coin (BNB). Market Cap $7.04 billion
Binance Coin (BNB) was launched as the native utility token for one of the most popular and largest crypto exchanges in the world, Binance. It is a token used to pay for transactions on the platform.
It was launched in 2017 and since then it has grown past just being used as a utility token to being one of the top cryptocurrencies in the market. Today, BNB is trading at $286 and has a market cap of $7 billion.
