On July 18, 2021, Bitcoin.com News researched the top five most expensive crypto assets and at that time there were two digital currencies worth five digits in value, two tokens worth four digits in U.S. dollar value, and one valued at three digits. Today, a lot has changed but currently, bitcoin and the token yearn finance are still the only two tokens with five-digit USD price values, and there’s a total of five crypto assets below them trading for four-digit prices.
The Top Crypto Assets by Price per Unit in August 2022
Just over a year ago, the crypto economy was worth roughly $1.33 trillion on July 18, 2021, and bitcoin (BTC) was trading for $31,615 per unit. At that time, one other crypto asset was worth five digits in USD value, as yearn finance (YFI) was exchanging hands for $28,611 per unit.
Today, both of those tokens are still the most expensive crypto assets per coin in terms of U.S. dollar value. However, both bitcoin and yearn finance are trading for much lower values than they were 386 days ago.
At that time, Bitcoin.com News reported that the top five most expensive crypto assets, minus tokenized gold cryptocurrencies, included BTC, YFI, MKR, ETH, and BCH. While Bitcoin is currently trading for $23,846, it is still worth five digits in USD value and yearn finance (YFI) is changing hands for $11,455 per coin.
Following YFI is pax gold (PAXG), perth mint gold (PMGT), ethereum (ETH), tether gold (XAUT), and maker (MKR). PAXG and PMGT are pegged to the value of one ounce of fine gold and both coins have a small premium.
XAUT is also pegged to one ounce of gold, but at the time of writing, it is currently trading at a discount from the spot price of gold. Taking away the three gold tokens from the equation, during the second week of August 2022, the top five most expensive crypto assets without including gold tokens are BTC, YFI, ETH, MKR, and BNB.
When the crypto economy was worth $3.13 trillion in November 2021 and BTC was trading for $68,766 per unit, YFI was changing hands for just under $30K per unit. Wonderland (TIME) was $8,725 per coin on November 10, 2021, and today it’s worth $11.21.
Last year, ethereum was $4,861 per ETH and it is now $1,773. Maker (MKR) was $3,199 and today it’s down to $1,136 per coin. Olympus (OHM) exchanged hands for $946 and now a single coin is $13.61, and while bitcoin cash (BCH) was $722 per unit, today it’s $143.
This year’s top five most expensive crypto assets’ newcomer, binance coin (BNB), was swapping for $663 but now it is down to $324. While it is interesting to look at crypto assets from the five, four, and three-digit USD value perspective or the most expensive crypto assets, it should be noted that often times those unfamiliar with cryptocurrencies look at them as if they are stocks.
Most cryptocurrencies, except for undividable non-fungible token (NFT) assets, are divisible. A great majority of cryptocurrencies are divisible out to eight decimal places, which means out of all the most expensive crypto assets mentioned above, all of them can be purchased in fractions. It is possible to buy $15 worth of bitcoin (BTC), $20 of ethereum (ETH), and $33 worth of yearn finance (YFI), instead of purchasing a whole coin, for example.
Data published in this article was recorded on August 8, 2022, at 11:55 p.m. (EDT), while it is compared to data recorded on July 18, 2021, at 8:55 a.m. Statistics from November 10, 2021, via archive.org were also included in this editorial.
What do you think about the top five most expensive digital currencies in August 2022? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons