Top 10 Cryptocurrency in the World by Market Cap

Cryptocurrency has become a common term in recent times. The most searched and most famous cryptocurrencies are Bitcoin and Ethereum. The extent to which Bitcoin is famous can be understood by the fact that many times, people use the words cryptocurrency and bitcoin synonymously. It is to be noted that there are thousands of other cryptocurrencies in which a person can invest or trade.

There is a term for digital currencies other than Bitcoin, it is ‘Altcoin’, i.e., alternative cryptocurrencies to Bitcoin.

List of Top Ten Cryptocurrencies by Market Cap

The top ten cryptocurrencies as per their market capitalization are mentioned in the below table:

There are thousands of different cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether, making it difficult to get started when you’re new to the field. These are the top 10 cryptocurrencies by market capitalization, or the sum of the value of all coins currently in circulation, to help you get your bearings.

Bitcoin

Bitcoin (BTC) is the first cryptocurrency developed in 2009 by a person using the alias Satoshi Nakamoto. BTC operates on a blockchain, a ledger that records transactions and is shared across a network of thousands of computers, like most other cryptocurrencies. Bitcoin is maintained secure and protected from fraudsters because updates to the distributed ledgers must be validated by cracking a cryptographic puzzle, a procedure known as proof of work.

• As Bitcoin has gained popularity, its price has risen. Approximately $500 could be spent on a Bitcoin in May 2016.
• The cost of a single Bitcoin was above $44,000 on March 1, 2022. That is an increase of almost 7,800%.

Ethereum

Ethereum, a cryptocurrency and blockchain platform, is a favourite among programmers because of its potential uses, such as so-called “smart contracts” that automatically execute when specific conditions are met and non-fungible tokens (NFTs).

• Ethereum has also grown incredibly fast.
• Its price increased by more than 27,000% from roughly $11 to over $3,000 between April 2016 and the beginning of March 2022.

Tether

A tether is a form of “stablecoin,” in contrast to some of its cryptocurrency competitors. Stablecoins make an effort to tie their market value to an outside standard. This means that Tether is backed by recognised “fiat” currencies like the U.S. dollar, the euro, or the British pound and theoretically maintains a value equivalent to one of those denominations.

• Effectively, this coin reduces the volatility and complexity sometimes associated with electronic currencies.
• While enabling users to innovate with conventional currencies using a blockchain system and related technology.

Binance Coin

Users of Binance, one of the biggest cryptocurrency exchanges in the world, may trade and pay fees using Binance Coin. A discount is applied to exchange fees paid in Binance Coin. Binance Coin was introduced in 2017 and is now used for more than just enabling deals on the Binance platform.

• Now, it may be used for trading, collecting payments, and even making trip plans.
• Additionally, it can be traded or converted into other cryptocurrencies like Bitcoin or Ethereum.

USD Coin

Dollar assets back a digital currency called USD Coin (USDC). The value of one USDC coin is equal to the value of one U.S. dollar, making USDC a tokenized version of the dollar. Being a stablecoin, USDC is intended to have a constant value. To maintain price stability, stablecoins are frequently backed by reserve assets like dollars or euros.

• The USDC price stability starkly contrasts with the well-known price swings of other cryptocurrencies like Bitcoin and Ethereum.

XRP

XRP is a cryptocurrency that may be used on that network to facilitate trades of many currency types, including fiat currencies and other significant cryptocurrencies. Some of the same founders developed it as Ripple, a digital technology and payment processing company.

• XRP was worth $0.006 at the start of the year 2017.
• Its price increased by more than 12,600% to $0.80 as of March 2022.

Binance

Even though Binance Coin has only been active for five years, its ICO price had increased by more than 450,000% by the time it peaked in late 2021. This enabled bnb to gain a position among the top 10 most valued cryptocurrencies that is almost permanent. Due to its exceptional growth, it has also listed almost all of the most well-known cryptocurrency exchanges. It has been accepted as a payment mechanism by several online retailers.

• Most experts believe that before the turn of the decade, the binance coin will rise by as much as 5000% and break above $15,000.
• Further demonstrating why it is one of the greatest cryptocurrencies to buy and hold onto.

Dogecoin

Celebrities and wealthy people like Elon Musk have made Dogecoin a popular issue. A popular cryptocurrency infamously introduced as a joke in 2013 quickly rose to prominence thanks to a passionate community and innovative memes. There is no cap on the number of Dogecoins that may be issued, unlike many other cryptocurrencies like Bitcoin, which makes the currency vulnerable to devaluation as supply rises.

• In 2017, Dogecoin cost $0.0002.
• Its cost reached $0.32 in June 2021, a 159,900% increase.

Cardano

Cardano is noteworthy for adopting proof-of-stake validation early despite entering the crypto industry somewhat later. By eliminating the competitive, problem-solving part of transaction verification found in systems like Bitcoin, this approach reduces energy consumption, increases transaction speed, and has a smaller negative impact on the environment. Like Ethereum, Cardano uses ADA, its native coin, for smart power contracts and decentralised applications.

Compared to other significant crypto coins, the growth of the Cardano ADA token has been somewhat muted. The cost of ADA was $0.02 in 2017. In June 2021, the cost was $1.50. This represents a 7,400% increase.

Solana

Solana was created to support using decentralised finance (DeFi), decentralised apps (DApps), and smart contracts. It operates on a special hybrid proof-of-stake and proof-of-history system that aids in the speedy and secure processing of transactions. The platform is run by the native token of Solana, SOL.

• SOL’s pricing started at $0.77 when it debuted in 2020.
• Its cost was roughly $101 on March 1, 2022, an increase of almost 13,000%.