The cryptocurrency roller coaster is heading back up! Who are the leaders?

Answer: Bitcoin and Ethereum still dominate the market!

Questions:

• Are you interested in cryptocurrencies? Why or why not?
• Why do you think that young people tend to be the age group that is most interested in crypto?
• Where would you go if you wanted to learn more about them? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Forbes):

1. Bitcoin (BTC)

Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.

Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy a Bitcoin for about $500. As of Sep. 10, 2024, a single bitcoin’s price was around $56,902. That’s a growth of 11,280%.

2. Ethereum (ETH)

Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).

Ethereum has also experienced tremendous growth. From April 2016 to the end of September 2024, its price went from about $11 to around $2,343, increasing 21,196%.

3. Tether (USDT)

Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.

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Want to learn more about cryptocurrencies? Check out the Cryptocurrency mini-unit.

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The Cryptocurrency self-paced Certification Course starts October 7th. Register today to be a Crypto pro!

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.