Today's Status of Cryptocurrencies: Key Digital Currencies Listed as of July 28th
Cryptocurrencies Continue to Show Growth
The world of cryptocurrencies continues to evolve, with several prominent digital assets showing positive movements in the last 24 hours.
Bitcoin Gains Ground
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has seen a 1.09% increase in value, currently trading at $118,159.47 (ARS 153,961,785). The total supply of Bitcoin is mathematically and statistically predefined, with a maximum of 21 million units, and the amount emitted is halved every four years, adding to its scarcity and value.
Ethereum Follows Suit
Ethereum (ETH), the second-largest cryptocurrency, has also experienced growth, with a 1.42% increase in value. Ethereum is currently trading at $3,793.28 (ARS 4,942,645).
Other Notable Gains
Several other cryptocurrencies have shown significant gains in the last 24 hours. Chainlink (LINK) is trading at $18.19 (ARS 23,705), Polkadot (DOT) is currently at $4.0 (ARS 5,209), and NEAR Protocol (NEAR) is trading at $2.77 (ARS 3,611).
Binance Coin and Ripple Hold Steady
Binance Coin (BNB), the cryptocurrency of the Binance platform, is trading at $829.19 (ARS 1,080,432), while Ripple (XRP) is trading at $3.15 (ARS 4,101).
Trading Volume and Market Capitalization
The volume traded in the last 24 hours is $136,132,002,896, and the total market capitalization of cryptocurrencies is $3,859,826,654,383 billion.
Censorship Resistance and Speed
One of the key advantages of cryptocurrencies is their speed and censorship resistance. Transactions can be processed quickly across borders, and once confirmed, they are irreversible and resistant to censorship by governments or institutions.
Variety of Cryptocurrencies
Besides Bitcoin and Ethereum, there are numerous other types of cryptocurrencies, including altcoins, stablecoins pegged to real-world assets, and meme coins that serve various functions and investment profiles.
Unregulated Nature of Cryptocurrencies
It's important to note that cryptocurrencies are not regulated, emitted by any authority, or stored by banks, which can make them appealing to some investors but also risky for others.
Remember the Crypto Winter
The term "crypto winter" or "crypto crash" refers to a significant drop in cryptocurrency values, first coined during the drop before the last boom in November 2021. As with any investment, it's crucial to research and understand the risks involved before investing in cryptocurrencies.
[1] Investopedia. (2022). What is Cryptocurrency? [Online]. Available: https://www.investopedia.com/terms/c/cryptocurrency.asp [2] CoinMarketCap. (2022). What is Cryptocurrency? [Online]. Available: https://coinmarketcap.com/alexandria/article/what-is-cryptocurrency [3] Forbes. (2021). What Is Cryptocurrency? [Online]. Available: https://www.forbes.com/advisor/investing/what-is-cryptocurrency/ [4] Blockgeeks. (2021). What is Cryptocurrency? [Online]. Available: https://blockgeeks.com/guides/what-is-cryptocurrency/ [5] Coinbase. (2022). What is Decentralization in Cryptocurrency? [Online]. Available: https://help.coinbase.com/en/coinbase/trading-and-funding/cryptocurrency-basics/what-is-decentralization-in-cryptocurrency
finance: The total market capitalization of cryptocurrencies is currently $3,859,826,654,383 billion.
technology: One of the key advantages of cryptocurrencies is their speed and censorship resistance, allowing for quick transactions across borders and irreversible transactions resistant to censorship.
