Summary: Experts recommend Ethereum, Binance Coin, Tether, Solana, and Ripple as important cryptocurrencies to know

From Nasdaq

December 7, 2024 8:00:40 AM:

Ethereum (ETH): Ethereum is the second-largest cryptocurrency after Bitcoin. It aims to create a global financial system accessible to all, even in countries without traditional banking. Ethereum also offers DeFi services and is the only other crypto with an ETF.
Binance Coin (BNB): Originally a token for Binance Exchange, BNB is now a major player in the crypto space. It operates on its blockchain using a proof-of-stake model for efficient transactions. Binance has both CeFi and DeFi operations with millions of users and protocols.
Tether (USDT): Tether is a stablecoin tied to the U.S. dollar, providing stability in a volatile market. It holds significant Treasury bills and bonds in various currencies to support its stablecoin operations. Tether is a simple option with low smart contract risk.
Solana (SOL): Solana is known for its high-speed blockchain and low transaction costs, making it ideal for DeFi projects. It can handle up to 65,000 transactions per second, faster than Ethereum. Solana has grown rapidly since its launch in 2017, attracting a large user base.
Ripple (XRP): XRP is used on the XRP Ledger, a payment platform by Ripple for faster and cheaper international payments. Ripple faces challenges with the SEC, impacting its market performance. Despite its potential, investors view it as a speculative investment compared to other projects.