It's not just bitcoin. Other cryptocurrencies are also breaking records, and one has shot up after being praised by Elon Musk

  • The bitcoin exchange rate is hitting historic highs, and other smaller cryptocurrencies are following suit
  • Elon Musk is responsible for the rise of one of them, after praising Dogecoin on Twitter
  • Some have risen from as low as $20 to now $130.
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Bitcoin is once again breaking the record price, which is already over $48,000, or $177,000. However, this is not the only cryptocurrency that has recently hit a record high – Dogecoin, a crypto created “for a joke”, also shot up. At the same time, ethereum, polkadot and chainlink, among others, broke records.

The bitcoin exchange rate has been trading at historic peaks recently. The beginning of 2021 has been really successful for bitcoin, plus in recent days Tesla announced the purchase of BTC for $1.5 billion, which further boosted the price of the cryptocurrency. Three days later, on Thursday, February 11, MasterCard announced its support for cryptocurrencies, which triggered further increases in bitcoin. BTC’s capitalization is now a dizzying $893 billion.

Other cryptocurrencies are also rising in the wake of these moves. Several of them have, like BTC, scored record prices. Here are a few digital currencies from the pool of the largest in the market that broke records in January.

1 – Ethereum

Photo: Yuriko Nakao / Contributor / Getty Images Ether is the second-largest cryptocurrency after bitcoin.

Ether (ETH) has been the second-largest cryptocurrency on the market for years, next to bitcoin. Its price, according to the CoinMarketCap website, has climbed to a record $1,803. As recently as December 2020, its price was hovering around $500-700. Since then, ethereum has made a massive rally and in 2021 alone, the exchange rate increased by 142 percent. ether’s market capitalization is $205 billion.

2 Chainlink

Photo: Gorev Evgenii / Shutterstock LINK is currently the 9th largest cryptocurrency on the market.

Chainlink (LINK) is a decentralized network, based on the Ethereum ecosystem, designed to connect smart contracts on the blockchain with data – and thus entities – outside the blockchain. The network had its ICO, or token issue, in 2017, raising $32 million at the time. Since then, LINK has become the 9th largest cryptocurrency on the market, with the price rising from $0.19 to now $28. Chainlink’s capitalization is $11.3 billion.

3 Binance Coin

Photo: Grey82 / Getty Images Binance is the largest cryptocurrency exchange in the world.

Binance Coin (BNB) is nothing but a token of the largest cryptocurrency exchange in the world – Binance. It is a so-called utility token that can be used on the Binance platform for payments, among other things. Its price is currently $133, while in December it was around $20-30. The capitalization of Binance Coin is 18 billion dollars.

4 Polkadot

Photo: Pierre Duprey / Getty Images The Polkadot token has hit the world of cryptocurrencies.

Polkadot (DOT) is a blockchain protocol designed to support multiple chains on a single network to allow for data or asset transfers, among other things. Simply put, Polkadot is intended to allow mutual operations between different blockchains. The DOT exchange rate is currently $24; in December it was still around $5. The rise to the current price gave Polkadot a capitalization of about $22 billion.

5 Dogecoin

Photo: ZimoNitrome / YouTube Dogecoin costs pennies and was created for a joke, but it still reached a billion dollar capitalization

Dogecoin (DOGE) is a bit out of the competition as it is not in the top 10 largest cryptocurrencies on the market, but it cannot be overlooked. For two reasons: first, it shows that even a crypto created by accident and a bit “for a joke”, as a token using an Internet meme with the famous “dog”, can give profits. Second – because of Elon Musk, as it was the billionaire who recently contributed to the DOGE record. The Tesla CEO had a whole series of posts on Twitter about Dogecoin, and in them he wrote, among other things, that it is “the people’s cryptocurrency” and posting a much-talked-about meme with himself and “dogecoin” in the lead role. The result: the price of DOGE jumped to $0.07 from $0.008 within a week.

Tags:cryptocurrencies Dogecoin ethereum bitcoin

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