The cryptocurrency market is known for its volatility, with prices changing rapidly within short periods. But, this can be both a challenge as well as an opportunity, as many crypto enthusiasts, or “crypto bulls,” believe in the potential of such digital assets and view them as an avenue to achieve substantial gains over time. While there are tens of thousands of cryptocurrencies in the market, a few stand out, providing high returns for long-term investors.
1. Bitcoin (BTC)
Known as the world’s first cryptocurrency, Bitcoin’s current market cap stands at $1.25 trillion, with a return of 142.52% year over year. Since its inception, Bitcoin has stood out as a leader in terms of user base, market cap, and popularity. This digital currency runs on a decentralized ledger system called blockchain. Here, transactions are recorded and validated through a process known as proof of work. This technique involves verifying transactions by solving a cryptographic puzzle, which secures Bitcoin from fraudsters. The currency’s value has skyrocketed over the years and currently stands at $69,041.12.
2. Ethereum (ETH)
This is the second largest blockchain platform to be implemented after Bitcoin. A prevalent cryptocurrency, Ethereum is widely favored by program developers as it supports multiple decentralized financial services.
- Non-fungible tokens or NFTs
- Smart contracts, which execute on its own when conditions are met
It has a market cap of $323.42 billion and a year-to-date return of 63 percent. Like BTC, Ethereum has shown tremendous growth. It currently trades for $2,734.31, making it a strong contender in the cryptocurrency market.
3. Binance Coin (BNB)
This is another coin with high returns. Owned by Binance, one of the world’s largest cryptocurrency exchanges, BNB operates on the Binance Chain, the company’s proprietary blockchain, designed for fast and seamless transactions. Buyers can use this cryptocurrency to pay a fee or trade on Binance. Since its launch, BNB has grown in popularity and applications. Currently, buyers can use the coin to book travel arrangements, process payments, and for trading.
One of the key advantages is that Binance coin holders can exchange or trade it for other crypto coins, such as Ethereum or Bitcoin. The cryptocurrency has a market cap of $81.11 billion and a year-to-date return of 157%. Currently, BNB trades at $605.26.
4. Solana (SOL)
One of the new entrants in the domain of cryptocurrencies, Solana is designed to support decentralized apps (dApps), decentralized finance (DeFi) applications, and smart contracts. This coin runs on a distinct hybrid proof-of-history and proof-of-stake mechanism. Solana helps process transactions securely and quickly, and its native token powers the platform. The coin is currently trading for $170.35 and has a market cap of $73.94 billion. Meanwhile, its year-to-date returns stand at a staggering 682.23 percent.
5. XRP
Developed by the founders of Ripple, a payment processing and digital technology company, XRP is one of the top-performing crypto coins today. Its market cap is $33.34 billion, and its year-to-date return is 12.73 percent. The coin is known for its faster transaction times, cost efficiency, and use of negligible energy.
It is used to exchange different currencies on its network, including fiat currencies and various popular crypto coins. The current value of XRP is $0.55. Financial institutions favor this cryptocurrency for its ability to facilitate low-cost cross-border transactions quickly.
6. TRON (TRX)
Launched under the Tron Foundation, TRX is a decentralized blockchain-based operating system with a market cap of $14.06 billion and a year-to-date return of 109.87 percent. Initially, the Tron tokens were fungible and designed on the ETH network (ERC-20). But, a year after its launch, they migrated to their own network, TRC20. This software supports multiple blockchain systems, decentralized apps, and smart contracts. TRX employs a transaction model similar to BTC, and it currently trades at $0.16.
7. Dogecoin (DOGE)
Although initially launched as a parody of Bitcoin, it gained popularity over the years, especially with the support of high-profile personalities like Elon Musk. It is a peer-to-peer, open-source cryptocurrency that facilitates faster payments and is known for low transaction fees. With a staggering market cap of $21.7 billion and a year-over-year return of 107 percent, it is among the coins with high returns. It currently trades for around $0.15.
8. Toncoin (TON)
Toncoin has a market cap of $13.61 billion with a year-to-date return of 109.84%. Initially developed as a layer-1 blockchain for Telegram’s encrypted messaging platform, it was later abandoned. The TON Foundation then acquired it and renamed the project from “Telegram Open Network” to “The Open Network.” Both versions share the acronym TON. It operates on the TON blockchain and is known to handle millions of transactions every second. Another key highlight of the cryptocurrency is its low transaction fees and various use cases.
Toncoin serves as the native token of TON. The platform allows users to buy, send, and store money on its fast, eco-friendly network. The cryptocurrency is currently priced at $5.36.