Price comparison of 100 cryptocurrencies as of February 22, 2021

In February 2021, the virtual currencies of Wrapped Bitcoin and Bitcoin both reached a price that was over 40,000 U.S. dollars. Bitcoin had the most expensive cryptocurrency for a while, with one coin valued at 46,000 U.S. dollars. Ethereum was significantly cheaper, though, with a price that was over 30 times less than that of the most well-known digital currency.

What is a cryptocurrency?

Cryptocurrencies are virtual commodities designed as currencies without a centralized regulating authority. Like a regular fiat currency, they have value only because their users agree upon the value. However, since there is no central authority to guarantee the price of these currencies, the price can be quite volatile.

Investment in cryptocurrencies

Many investors see this volatility as an opportunity. The fluctuation in price of Bitcoin and other expensive virtual currencies attracts speculators. Others might be more drawn to blockchain, the distributed ledger technology that makes cryptocurrencies like bitcoin more secure. This may be the reason why number of Blockchain wallet users globally is increasing from year to year.