Although the past few weeks have been somewhat gloomy for the cryptocurrency market, Bitcoin remains the leading cryptocurrency asset. By statistics, the cryptocurrency market value fell by a whopping 20.24 percent. From the value of $2.19 trillion at the start of January to $1.75 trillion at the close of the month, very sad.
There are several different cryptocurrencies ranging from Bitcoin, Ethereum, to Tether and Dogecoin, so you want to be on the lookout for the best decision to make especially when you are just getting started. Here’s a list of top currencies to keep an eye on in February 2022.
1.Bitcoin(BTC)
Current Market Capitalization: Over $780 Billion
The first cryptocurrency was created in 2017 by Satoshi Nakamoto. As with most cryptocurrencies, BTC also experienced a great loss in the previous month. However, this great loss has done nothing to displace Bitcoin’s market denomination as the past few days have seen a steady rise in its value.
Bitcoin, lost over $7,500 or 16.89 percent, falling from $46,306.45 at the start of the month to $38,483.13 at the conclusion. Bitcoin dipped as low as $33,184.04 at the end of January.
Bitcoin dipped as low as $33,184.04 at the end of the month, but in the previous few days, we have seen a $5,000 rebound, or 15.97 percent, from its January base to its closing price.Source.
The following chart is based on the last 7 days. Bitcoin is now valued at $41,447 dollars
Source
2. ETHEREUM(ETH)
Current Market Capitalization- Over $361 Billion
Just like Bitcoin, Ethereum is a robust currency that has become a household name. It’s currently the second in terms of market capitalization. As with bitcoin, Ethereum has also grown tremendously.
Between April 2016 and February 2022, its price increased nearly 25,000%, from about $11 to over $2,700.Regardless, the recent fluctuations and dip in the crypto market have not spared ETH either. Before the dip, ETH hit an all-time high of $4,000 per token.
The following chart is based on the last 7 days. ETH has seen a rise from $2,500 to $3,000. Hopefully, the steady increase continues.
Source
3. DOGECOIN
Current Market Capitalization- Over $19 billion
Dogecoin is quite popular for different reasons; one being that it is considerably cheap to buy and the second being the growth. Dogecoin went from a price of $0.005 in January 2021 to $0.74 in July 2021, quite impressive if you ask me.
The reports have it that Glauber Contessoto sold his Tesla and uber stocks at the time just so he could invest $250,000 in Dogecoin.
As expected, Dogecoin is not exempted from the dip in the crypto market, but the last 7 days have seen a teeny tiny rise from $0.1426- $0.1491.
Dogecoin, which is now selling for 0.1491(+/-) is one of the top inexpensive cryptocurrencies you want to keep an eye on in February 2022. This simply implies that, at present prices, you may invest in this inexpensive cryptocurrency in the hopes that it will significantly increase with time.
4. XRP
Market Capitalization- Over $29 billion
XRP, which was founded by some of the same individuals as Ripple, digital technology and payment processing firm, may be used on that network to allow swaps of many currency kinds, including fiat currencies and other major cryptocurrencies.
It is also sometimes referred to as the banker’s currency because it is mostly used by banks to conduct international transactions. Although the price of XRP saw an increase from $0.006 at the start of 2017 to $0.62 as of February 1, 2022, indicating over a 10,000% increase, it has also been affected by the recent fluctuations in the crypto market.
The following chart is based on the last 7 days. The values have slightly increased from $0.6175 - to $0.6734.
There are several more cryptocurrencies you want to keep an eye on in February 2022 namely; BNB, Floki Inu, etc., this article only points out a few. Contributions will be greatly appreciated.