Aside from the major cryptocurrency ecosystems such as BNB Chain, Fantom, Stablecoins, DeFi, and NFT, there are numerous other categories into which cryptocurrency can be classified.
In the same way that the traditional stock market has different sectors such as health care and industrials, the cryptocurrency market also has several options for investors to invest in.
Many cryptocurrencies serve diverse purposes depending on their sector. According to CoinMarketCap, there are currently over 150 categories of cryptocurrencies to invest in, with certain tokens belonging to more than one category based on their functionality. Understanding the various cryptocurrency industries will enable investors to follow the trend and so invest intelligently.
The move-to-earn sector has recently exploded, fueled by the significant surge in the value of the STEPN's token, GMT. The concept of M2E evolved from the model of play-to-earn. Moreso, users of Move-to-Earn platforms can earn passive revenue while engaging in normal physical activities.
This provides an additional income stream for members while they engage in their regular exercise activities or participate in specific fitness-related challenges. Furthermore, M2E is important in that it gives users additional incentives while also keeping them healthy and fit.
Moreover, at the time of writing, the M2E industry has a market capitalization of approximately $2.2 billion.
The top M2E cryptocurrencies are:
- STEPN (GMT) - $3.65
- Genopets (GENE) - $14.22
- Green Satoshi Token (GST) - $7.04
- Dotmoovs (MOOV) - $0.057
- DOSE (DOSE) - $0.1217
The privacy sector comprises cryptocurrencies which enable users to make transactions discreetly and anonymously. Privacy coins keep the identities of the people involved hidden while also making transactions untraceable. It offers anonymity and untraceability.
Further, the privacy sector has a market cap of roughly $11 billion at the time of writing.
The leading cryptocurrencies are:
- Monero (XMR) - $233.61
- Zcash (ZEC) - $141.83
- Decred (DCR) - $59.31
- Secret (SCRT) - $4.38
- Horizon (ZEN) - $31.79
Logistic cryptocurrencies, as the name suggests, assist logistic organizations in improving their efficiency, transparency, and traceability. This type of crypto is used to strengthen companies' supply networks while also making them more secure.
At the time of writing, the crypto logistics sector had a market capitalization of approximately $3.5 billion.
The leading cryptocurrencies in this sector are:
- VeChain (VET) - $0.049
- OriginTrail (TRAC) - $0.4545
- Morpheus.Network (MNW) - $1.27
- Waltonchain (WTC) - $0.3843
- CargoX (CXO) - $0.1456
The crypto health sector covers cryptocurrencies that are linked to the healthcare industry. Crypto ventures in this industry make use of decentralized technology that is managed by a network of people. As a result, patients will have complete control over their data and will be able to decide how to use it.
Healthcare cryptocurrencies could also be used to self-fund the expense of private healthcare. It also includes smart contracts for insurance and supply chain settlements, as well as medical staff certification verification.
Moreover, the market cap of the crypto health sector is about $269 million at the time of writing.
The top cryptocurrencies from this sector are:
- SOLVE (SOLVE) - $0.0734
- MediBloc (MED) - $0.0407
- Humanscape (HUM) - $0.3147
- Lympo (LYM) - $0.0047
- Medicalchain (MTN) - $0.0040
This category includes cryptocurrency initiatives associated with the tourism industry, such as travel and attractions. The current market cap of the logistics sector is over $150 million.
The top cryptocurrencies in this category are:
- Travala.com (AVA) - $1.25
- EvenCoin (EVN) - $0.0012
- AVINOC (AVINOC) - $0.325
- LockTrip (LOC) - $2.32
- KemaCoin (KEMA) - $0.0007
*Price as at April 29
There are many more crypto-related sectors in which you can invest. However, before investing in any of these areas, it is critical that you have some knowledge about investing in the cryptocurrency market.
That is why we are inviting you to a free webinar where you will learn “what you need to know before investing in crypto in 2022.” You can register here.