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Elon Musk gave her mother Dogecoin as a gift last year, and we have selected the top five cryptocurrencies for your mother's day gift.
Elon Musk hosted the Saturday Night Live and talked about Dogecoin last year, which originated from the internet meme, that is "the future of money," is "real" like the US dollar, and will "take over the world."
When he hosted the show, Musk also praised Dogecoin, telling that the gift he gave his mother for Mother's Day was Dogecoin.
During the show, Musk's mother said, "I'm looking forward to my Mother's Day gift, and I hope it won't be Dogecoin." Musk replied, "Yes, it's Dogecoin."
It might come up, whether you're planning a thoughtful gift or spending time with "World's Best Mom" this weekend. You check crypto prices during the family hour, so that's what's going to happen. Just keep the FAMMEX app open.
There Are So Many Cryptos, Which Should I Buy?
We have selected the top five cryptocurrencies so that you do not have to spend a lot of time selecting one mother's day gift.
Bitcoin (BTC) is the very first cryptocurrency that uses cryptography to keep itself secure. There's no physical bitcoin, just balances on a public ledger everyone can see (although they're encrypted). Bitcoin transactions are verified by a massive amount of processing power known as "mining."
Bitcoin is not issued or backed by any banks or governments, nor are individual bitcoins valuable. Although Bitcoin isn't legal tender everywhere, it is still very popular and has led to the emergence of hundreds of other cryptocurrencies, collectively referred to as altcoins. Bitcoin is commonly abbreviated as BTC when traded.
The market cap of Bitcoin is now 733.2 billion as reported.
Our second pick, Ethereum (ETH), is a decentralized software platform that lets smart contracts and decentralized applications (DApps) be built and run without any downtime, fraud, control, or interference from a third party. Ethereum aims to build decentralized financial products anyone in the world can access, regardless of nationality, race, or religion. In some countries, people without state infrastructure and state identification can join online banks, and get loans, insurance, and a variety of other financial services.
Currently, Ethereum DApps, DeFi, and NFT Applications dominate the whole internet when compared with other public chains, which is why some internet users and media call it the "digital oil" of the internet.
The market cap of Ethereum is now $343.1 billion as reported.
Cardano (ADA) is a "proof-of-stake" cryptocurrency created by mathematicians, engineers, and cryptography experts.
Charles Hoskinson was one of the five original Ethereum founders. After some disagreements with Ethereum's direction, he left and helped create Cardano.
Cardano's blockchain is the result of extensive experiments and peer-reviewed research. The researchers behind Cardano have written over 120 papers on blockchain technology. This is what drives the project.
The market cap is now $26.6 billion as reported.
Why not send your mother a gift like Elon Musk?
Dogecoin was created by two software engineers, Billy Markus and Jackson Palmer, in 2013. Markus and Palmer reportedly created the coin as a joke, commenting on the wild speculation of the cryptocurrency market.
In 2021, memecoin caused a stir when the price soared. An image of a Shiba Inu is used as the coin's avatar payment by some major companies, including the Dallas Mavericks, Kronos, and—perhaps most notably—SpaceX, an American aerospace manufacturer owned by Elon Musk, since it declared a Doge-1 space mission to the moon.
The market cap is now $17.3 billion as reported.
Polydot (DOT) is a PoS cryptocurrency aimed at delivering interoperability between blockchains. It's a protocol that allows permissioned and permissionless blockchains, as well as oracles, to connect under one roof. Polkadot's core feature is its relay chain, which allows multiple networks to talk to each other. Additionally, it allows for parachains, or parallel blockchains for specific use cases, with their own native tokens
Polkadot differs from Ethereum in that rather than only allowing developers to create dApps on its platform, developers can also create their own blockchains while still using Polkadot's chain's security
The market cap is now $14.8 billion as reported.
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