Most expensive cryptocurrency: hundreds of thousands of dollars per unit

The “NFT gold rush” is not slowing down, turning ordinary digital artists and meme creators into millionaires. Here is a list of the most expensive NFTs in the world, each of which is worth more than one million dollars.

In today's digital market, NFTs are very popular. NFTs are non-fungible tokens that are an original copy of a product or one of a kind. Most of them are traded on blockchains, mainly Ethereum, and their value is tied to the token they represent. This also means that their prices do fluctuate and may change over time.

Unlike coins or trading cards, where there are "issues" for each collection, regardless of whether they are "limited" or "first" releases, NFTs are always self-contained. You can sell anything as an NFT, from something you made with Microsoft Paint in Windows 95 to your very first tweet. As long as it is original and has some level of sentimental attachment, it will not have fungible value.

NFTs come in all forms, but the current craze for digital artwork is particularly special. The feeling of abstract expression reached millions of enthusiasts and further increased sales.

Below is a list of the ten most expensive NFTs ever sold on the market.

#10 NFT Forever Rose by Kevin Abosh – $1 million

This elegant red rose on a black background is one of Kevin Abosch's most treasured masterpieces. He didn't even draw a rose. He just took a photo of a flower and what makes it authentic is that there was dirt on it. When digitized, the piece looked fresh and authentic.

Before this rose, Ebosch sold a photograph of a potato for a million dollars. This is a person who really knows how to monetize what surrounds him. Forever Rose was sold to 10 collectors, each of whom had a ROSE token. Proceeds will go to the Children's Programming Fund.

USDT

One of the few cryptocurrencies that is tied to fiat (real) money, issued by Tether Limited. The company has created comfortable conditions for users to store, send and receive digital tokens pegged to dollars and euros. It is also planned to add Japanese yen into use in the near future.

The virtual coin can be purchased or exchanged for real currency, and USDT is backed by the Taiwan Banking Trust.

#9 NFT Destination Hexagonia by Don Diablo – $1.2 million

Don Diablo is a talented artist who not only makes incredible music, but also some pretty cool looking animations for his songs. If you love going to concerts, then you are in for a treat because Hexagonia has a concert for you. It's an hour-long hard drive-packed show that includes some of his latest hits.

The entire project took him a year, following his success with Genesis NFT. Hexagonia will go to SuperRare, with proceeds going to a platform that helps artists create their own NFTs.

Associated risks

There are some risks associated with purchasing cryptocurrency.

Risk #1: Market volatility

In 2022, there was a sharp decline in the value of cryptocurrencies. The MVIS CryptoCompare Index lost 80 percent of its value. This is worse than the 78% dot-com crash in 2000. Bitcoin, which peaked at $19,345 (RUB 1.1 million) at the end of 2022, barely reached $7,000 (RUB 540,000) by April 2018. A similar story may happen with other altcoins.

Risk No. 2. Regulatory support

Governments and banks have not yet formed a fiscal policy for crypto money. There is always a possibility that working with them will be prohibited at the legislative level.

Risk No. 3. Protecting investors from depreciation

Unlike traditional currencies, cryptocurrency does not have any official guarantees or insurance.

Risk No. 4. Increasing cost of mining

Mining will not be profitable on a small scale unless you have access to free or really cheap electricity. There is also a risk of equipment becoming more expensive, breaking down, and stopping supplies from China aimed at the domestic market.

Risks of investing in cryptocurrencies:

#8 The Switch by Pac - $1.4 million

Park is known for his many masterpieces such as "Cube" and "Equilibrium", but "Switch" is probably one of the most intriguing. It's an animated piece of connected cubes floating in motion. The selling point here is that sometime in the future the object will change shape. No one except Puck knows when this will happen. He mainly used the concept of waiting.

Park has a collection of crypto art worth over $17 million.

Top expensive cryptocurrencies of all time

Surprisingly, Bitcoin is not the most expensive cryptocurrency. There are analogues that cost tens and hundreds of thousands of dollars. They exist in limited quantities and are no longer produced.

Top 3 most expensive coins:

1. BIT-20 costs $766,995 (45 million rubles) - the most expensive crypto asset listed on CoinMarketCap.
2. Project-X costs 17 million rubles, and only a small part is in circulation - 0.078264 NANOX.
3. 42-coin worth 3.6 million rubles. Sold on the Cryptopia, Livecoin and Trade Satoshi exchanges. In 2014, the price of the coin was about 60 million rubles.

The top 10 included coins with huge capitalization and a large volume of tokens. Data provided by bitcoinnews.blog.

Bitcoin

The first decentralized digital coin. Became public in 2009. Author unknown.

• Current price: 4092 dollars (240 thousand rubles).
• Peak cost: $19,345 (RUB 1.1 million).
• Capitalization level: $72.5 billion, peak capitalization reached more than $200 billion (12 trillion rubles).
• Year of manufacture: 2008.
• Number of coins issued: 21 million tokens.

Bitcoin exchange rate changes over the year

It remains the most well-known and popular crypto coin, although critics suggest that its volatility, slow speed and mining difficulty will limit growth.

Ripple

Ripple is designed as a centralized transaction network that will be used by banks for money transfers, similar to SWIFT.

• Current price: $0.31 (20 rubles).
• Peak cost: $1.98 (RUB 120).
• Capitalization level: $12.4 billion (RUB 722 billion).
• Year of release: 2012.
• Number of issued coins: 100 billion.

Ripple exchange rate changes over the year

Ripple is positioned as a faster, more reliable and less volatile cryptocurrency compared to its peers.

Litecoin

Known as Bitcoin's little brother, it has faster transaction speeds. Creator: Charlie Lee.

• Current price: $60.9 (RUB 3,600).
• Peak cost: $306 (RUB 18,000).
• Capitalization level: $1.7 billion (RUB 102 billion).
• Year of release: 2011.
• Number of issued coins: 62 million tokens.

Litecoin exchange rate changes over the year

Ethereum

Applications developed on Ethereum reside on a distributed public platform where miners can earn “ether.”

• Current price: $142 (RUB 8,400).
• Peak cost: $1,118 (RUB 66,000).
• Capitalization level: $5.18 billion (RUB 300 billion).
• Year of release: 2015.
• Number of issued coins: 105 million tokens.

Ethereum price change over the year

Developed by Russian IT entrepreneur Vitaly Buterin.

Bitcoin Cash

The coin originated in August 2022. The discussion that led to the decision to create Bitcoin Cash revolves around the issue of scalability. Bitcoin has a strict block size limit of 1 MB, and for the cache it was increased to 8 MB. This reduced transaction time.

• Current price: $165 (RUB 9,600).
• Peak cost: $2,359 (RUB 140,000).
• Capitalization level: $2.97 billion (RUB 178 billion).
• Year of release: 2022.
• Number of coins issued: 21 million tokens.

Change in Bitcoin Cash rate over the year

Bitcoin Cash successfully competes with the original Bitcoin.

Stellar

This “star” coin has lived up to its name, with the price of its XLM token skyrocketing 30,000% in 2022.

• Current price: 0.1 $ (6 rubles).
• Peak cost: $0.68 (40 rubles).
• Capitalization level: $2 billion (RUB 120 billion).
• Year of release: 2014.
• Number of issued coins: 19.24 million tokens.

Stellar exchange rate changes over the year

Developed by Ripple co-founder Jed McCaleb in 2014.

Cardano

Charles Hoskinson, one of the co-founders of ethereum, launched cardano in September 2022.

• Current price: $0.07 (RUB 0.6).
• Peak cost: $1.03 (RUB 60).
• Capitalization level: $1.83 billion (RUB 108 billion).
• Year of release: 2022.
• Number of issued coins: 45 million tokens.

Change in Cardano rate over the year

The coin aims to solve some of the problems that cryptocurrencies around the world face: volume and scalability.

Neo

NEO appeared in 2014. It was originally called AntShares. The coin was later renamed by its creator Da Hongfei.

• Current price: $9.83 (RUB 570).
• Peak cost: $149 (RUB 8,940).
• Capitalization level: $630 million (RUB 37.8 billion).
• Year of release: 2014.
• Number of issued coins: 100 million tokens.

Change in Neo rate over the year

Today it is the largest cryptocurrency from China. Sometimes referred to as "Chinese Ethereum".

Iota

The team that developed IOTA wanted to create a transaction system that would provide a secure and fast process for purchasing things in online stores.

• Current price: $0.3 (20 rubles).
• Peak cost: $4.53 (RUB 270).
• Capitalization level: $852 million (RUB 51 billion).
• Year of release: 2015.
• Number of issued coins: 2.78 billion tokens.

Iota rate changes over the year

The founders of IOTA are David Sonstebo, Sergey Ivancheglo, Dominik Shiner and Sergey Popov.

Monero

This coin was launched in April 2014 and is positioned as a private and untraceable currency.

• Current price: $53 (RUB 3,180).
• Peak cost: 413 $ 24,600 rub.).
• Capitalization level: $904 million (RUB 54 billion).
• Year of release: 2014.
• Number of issued coins: 16.89 million tokens.

Monero rate changes over the year

Charts for review are provided by the online service ru.tradingview.com.

#7 Quantum, Kevin McCoy - $1.6 million

Quantum is special not only for its glowing patterns, but also because it is the first NFT ever created. This pulsating hexagon represents technology and innovation in colorful layers. The story it presents and its background is what attracted bidders.

When Kevin McCoy decided to auction Quantum, he wanted the public to give digital art the attention it deserved. He never intended to start the NFT hype, but given its price, people realized they could do the same.

Reasons for the popularity of cryptocurrencies

People have used “regular” money for thousands of years. Why did they invest huge sums in a new type of currency in a short time:

1. Complete decentralization. Cryptocurrencies are an independent system. Their release is carried out exclusively as a result of mining.
2. Anonymity of all transactions.
3. Lack of a single center for issuing coins. In a traditional economy, only a state bank can produce them. Cryptocurrencies are “mined” by miners who may be located in different countries.
4. Having a choice between cryptocurrencies. There are currently over two thousand altcoins available.
5. Small commission compared to traditional bank transfers.
6. Safety. Transfers require transaction confirmation. The data is stored on a large number of computers and is constantly rechecked. To hack a wallet, you must simultaneously bypass the protection of network computer participants.

Cryptocurrencies promise anonymity of transfers

A number of online stores and services freely accept coins as payment for goods and services.

The Replicator by Mad Dog Jones - $4 million

The Replicator tells the story of a photocopying machine that runs on its own for generations. This animated crypto art has a deep backstory that shows how much can change over time. Another feature of this NFT is how it can generate new NFTs on its own. According to creator Mika Dovbak, the process will last for one year. We don't really understand the frequency of token generation, but he intends that each one represents a change in the world.

XLM

Stellar ( XLM project is free conversion, support for any type of currency and the exchange of national and digital money within this platform.

The developers paid special attention to free access and anonymity, fast translations, as well as the principles of decentralization. What is this principle? The idea is to have as many autonomous servers as possible on the Stellar network so that the network continues to operate successfully even if some servers fail.

#5 NFT Save Thousands of Lives from Noora Health – $5 million

This NFT is a project of the organization Noora Well Being. They are intended to raise awareness about the health of people in Southeast Asia and surrounding regions. The work also includes teaching patients how to care for themselves and their families. The organization believes that for every $1,200 it saves one life.

"Save Thousands of Lives" is a giant collage of photographs and posters highlighting "helping hands" from around the world.

XRP

XRP cryptocurrency uses digital portals that can be described as something similar to a worldwide ledger, which is compiled from private blockchains (sequential chains of blocks that are built according to certain rules, containing any information. Duplicates of each such blockchain can be stored on many others computers, and independently of each other).

Essentially, such digital portals are used by banks, financial institutions and government organizations to connect to the network. The described mechanism is known as the Ripple Transaction Protocol (RTXP), which is also called the RippleNet network. This is the basis of the project.

Thus, RippleNet is a network of banks and payment systems, which, in turn, use ideas developed within the Ripple project. Their main goal is prompt transactions around the world.

In addition to XRP, the platform allows users to create their own cryptocurrency.

#3 Cryptopunk NFT Collection – $5-12 million

Cryptopunk is a vast collection of pixel characters of different moods and attributes. Think Minecraft, but with more personality. There are approximately 10,000 symbols, each with a different price, ranging from $100,000 to $12 million. There's really no explanation for the individual prices other than that each character is unique to the collection.

Not included in the TOP 10

As a result of the high popularity of cryptocurrencies, a large number of varieties have been created. There are more than 2 thousand coins on the market.

#2 Ocean Front by Beeple – $6 million

Oceanfront is an inspiring piece of art that addresses climate change. Mike Winkelmann, aka Beeple, has sold several NFTs in this price range, each with an exclusive message. Proceeds from the sale of the piece are expected to go to the Open Earth Foundation, an infrastructure management organization.

BCH

BCH cryptocurrency (aka Bitcoin Cash ) arose as a result of dividing one large Bitcoin database into two independent branches.

The emerging coin also has a common history with the familiar Bitcoin, so immediately after the fragmentation of the database, many exchanges provided their users with the opportunity to receive a unit of the updated version of the currency at a one-to-one rate. That is, if you had a certain amount of BTC at your disposal, then you also receive exactly the same number of units of the new BCH cryptocurrency.

#1 Everydays: The First 5000 Days – $69 million

Finally, the NFT dungeon raid boss. This collage of all the art Beeple has ever created represents a journey and a priceless feeling. Well, $69 million is certainly not priceless, but you get the idea.

This NFT is the most valuable of its kind and will likely remain so for years to come.

BSV

On August 16, 2022, the announcement was made of Bitcoin SV ( BSV ), a cryptocurrency that was created by an Australian entrepreneur as part of the nChain company.

The creators of Bitcoin SV call the original Bitcoin code the main document, the principles of which they followed when developing the cryptocurrency, and the abbreviation SV stands for “Satoshi Vision,” which translated from English means “Satoshi’s vision.”

Key factors when choosing coins. Where to start evaluating the best cryptocurrencies to invest in

There are several objective factors that you should pay attention to when choosing a cryptocurrency for investment; I am guided by them when choosing a particular asset before deciding to invest.

Factor #1. High liquidity

If we talk about the term, liquidity means the ability of an asset to be sold quickly and at a price as close as possible to the market price. It makes it possible to buy or sell cryptocurrency profitably and at the right time.

Therefore, it is better to choose a coin that is exchanged on several trading platforms (exchanges, exchangers) and has a turnover of at least $1 million per day.

You can view the daily turnover of cryptocurrency on the website coinmarketcap.com. This data is displayed on the main page in the “volume 24” column.

See the list of platforms where the coin is traded there, on coinmarketcap.com. To do this, on the main page, select the token of interest and click on its name. In the page that opens, select the “Markets” tab.

Here is an example of a list of exchanges where the Dash cryptocurrency is traded. This is not a complete list of them, there are about 80 sites in total. But there are cryptocurrencies that are only traded on a couple of little-known exchanges. Selling such a coin will be much more difficult.

Factor #2. Developer activities

Any software professional can create a cryptocurrency without much effort. This is due to the fact that new coins appear, in most cases, on the basis of existing ones.

Therefore, it is better to choose coins whose developers continue to work on their product. You can go to the official website of a cryptocurrency project and see if it has a roadmap or calendar of events, study the team of creators, and generally evaluate the design of the site itself.

Some developers create accounts on Twitter or Telegram where they announce important events and partnerships, which often lead to a rapid increase in the price of the cryptocurrency. If you follow these projects directly, you can buy the coin in advance and take advantage of the increase in value after the update is released.

But there are a couple of nuances here:

• firstly, in a bear market, even the most impressive announcements can be crushed by negative sentiment;
• secondly, not every partnership leads to an increase in price. A recent example was the announcement of a partnership between the PornHub website and the Verge cryptocurrency. While some supporters saw this as positive news, much of the market was against it and Verge's price fell.

Factor #3. Practical significance

This is the most important factor that will help determine whether a cryptocurrency will have long-term value or not. First of all, any crypto project should be perceived as technology.

Therefore, it is important to understand two things:

• Does the company or cryptocurrency solve any existing problem?
• does it have any real value or is it just a good idea?

Factor #4. Competition

Even if a digital currency solves a problem, it may have competitors who make a very similar product or technology. At the same time, they can be stronger due to:

• reputation;
• more partners;
• strong development team;
• good marketing strategy, etc.

Factor #5. Market capitalization

Some beginners make the mistake of assessing the effectiveness of a cryptocurrency based on its price. But the price in the cryptocurrency market is just a metric that shows the rise or fall in value of the same coin over time. When comparing two currencies, price does not matter.

The market capitalization indicator is much more important here. It is determined by multiplying the price of a coin by its quantity. Capitalization makes it clear how much investment in monetary terms is currently in a particular coin. You can see it again on the website coinmarketcap.com. In the “market cap” column.

When you hear the phrase “capitalization rating”, we are talking about this list of the CoinMarketCap resource.

LTC

Cryptocurrency Litecoin
The penultimate position went to Litecoin, which today cannot please with any cool news or reasons that will push its price up in the near future. But “digital silver” still has a huge credibility and a base of users who believe in this coin and are waiting for it to show its full potential, predicting a price of even $1,000.

One of the traders pointed to the growth potential based on reaching the bottom in the Litecoin to Bitcoin pair.

Litecoin to Bitcoin chart

This level of support dates back to 2022, and the chart shows that at the end of last year and the beginning of this year there were decent volumes. And what Litecoin has shown today does not mean that all accumulated positions have been traded, so there really is potential for a pump.

In a pair against the dollar, the chart looks many times worse, the upward trend is quite weak and we cannot overcome the first important resistance at $220, and this is not the only sell zone on the way to the current high of $400:

Litecoin chart

But we expect achievements from Litecoin not only because we ourselves are among its supporters, but also because now top English-speaking crypto bloggers have begun to pay increased attention to it. They have not been seen doing anything like this before and one gets the feeling that preparations are really underway for a Litecoin pump.

BNB

Cryptocurrency BNB
Here we have BNB and yes, in this cycle, with continued growth, it may well reach $1,000, these are not sky-high “X’s” - 60% profit in a few months. Today, the price of BNB is in an upward trend and has again approached the large resistance range from $630 to $690:

BNB chart

If we overcome this block, we get a new maximum price and unlimited growth potential. We associate the breakthrough of resistance with Bitcoin, as well as with the growth of Ethereum. But further reasons for the growth are quite interesting, and here I must say that we really hope that Binance will behave like SHIBA INU.

SHIBA developers are always in the current trend and Binance does not lag behind them, and maybe even is their role model. So they quickly got their bearings and launched the Binance Smart Chain network for DeFi, then the exchange launched its NFTs, and now it has carried out a hard fork of the blockchain to add the burning of BNB when paying commissions, similar to Ethereum. We expect that we will soon hear about projects in their network related to metaverses; in fact, they are already there, we just need to create a new hype.

And also another potential point of growth is Binance obtaining a license to operate, which the TOP-1 exchange still does not have and provides services on the basis of various agreements with the authorities. Changpeng Zhao promised to resolve this issue and if he keeps his word, the BNB token will receive an excellent increase in price.

Cardano

Next on our list is the Cardano cryptocurrency, which is not particularly well known, however, it occupies a fairly high position. I would like to note that Cardano, according to the creators, is a kind of new trend within the framework of the economy.

Roughly speaking, as the creators of this system say, their brainchild should revolutionize everyone’s understanding of the usual economy. Of course, it seems to me that such statements are now very loud, although this cryptocurrency is quite promising, although only time will tell!