Top 5 best performing crypto currency in 2022

Bitcoin (BTC) - market cap of $864 billion

The first cryptocurrency, Bitcoin (BTC), was developed in 2009 by a person named Satoshi Nakamoto. BTC operates on a blockchain, which is a ledger that records transactions and is shared across a network of thousands of computers, like the majority of other cryptocurrencies. Bitcoin is maintained secure and protected from fraudsters because updates to the distributed ledgers have to be validated by cracking a cryptographic puzzle, a procedure known as proof of work. As Bitcoin has gained popularity, its price has risen. Approximately $500 could be spent on a Bitcoin in May 2016. The cost of a single Bitcoin was above $44,000 on March 1st, 2022. That is an increase of almost 7,800%.

Ethereum (ETH) - market cap of $361 billion

Because of its potential applications, including so-called "smart contracts" that automatically execute when certain conditions are met and non-fungible tokens, Ethereum—which is both a cryptocurrency and a blockchain platform—is a darling among programmers (NFTs).

Ethereum has also grown incredibly fast. Its price increased by more than 27,000% from roughly $11 to over $3,000 between April 2016 and the beginning of March 2022.

Tether (USDT) - market cap of $79 billion

Tether is a stablecoin, which means it is backed by fiat currencies like U.S. dollars and the Euro and theoretically maintains a value equal to one of those denominations, in contrast to some other types of cryptocurrencies. As a result, investors who are cautious of the severe volatility of other coins choose Tether because its value is theoretically expected to be more stable than that of other cryptocurrencies.

Binance Coin (BNB) - market cap of $68 billion

You can trade and pay fees on Binance, one of the biggest cryptocurrency exchanges in the world, using the Binance Coin cryptocurrency.

Binance Coin has grown since it was introduced in 2017, and it now does more than just enable transactions on Binance's exchange platform. Now, it can be utilized for trading, processing payments, or even making trip plans. Additionally, it can be traded or converted into other cryptocurrencies like Ethereum or Bitcoin.

In 2017, BNB cost only $0.10. Its price increased to nearly $413 by the start of March 2022, a gain of roughly 410,000%.

Ripple(XRP) - market cap of $37 billion

XRP is a cryptocurrency that may be used on that network to facilitate trades of many currency types, including fiat currencies and other significant cryptocurrencies. It was developed by some of the same founders as Ripple, a digital technology and payment processing company.

XRP was worth $0.006 at the start of the year 2017. Its price increased by more than 12,600% to $0.80 as of March 2022.