Cryptocurrencies have quickly become a popular investment option over recent years, with investors keen to take advantage of their potential high returns. One key metric used to assess cryptocurrencies is market capitalization; this measures their total value in circulation; Bitcoin tops this list for having the highest market cap followed by Ethereum, Binance Coin XRP Tether and Cardano.
Bitcoin is the best-known and widely used cryptocurrency with a market capitalization exceeding $1 trillion. Ethereum is second in size and well known for its smart contract capabilities that enable decentralized applications to be created using its blockchain. Binance Coin, meanwhile, is unique to Binance exchange and has seen significant value appreciation thanks to its immense popularity.
Ripple Payment Network and is known for its fast transaction speeds, while Tether provides investors with a stable value that’s pegged to the US Dollar. Cardano, another recent cryptocurrency with a proof-of-stake consensus mechanism has gained attention for its focus on sustainability and scalability.
1. Bitcoin (BTC)
Bitcoin (BTC) is the world’s first and most valuable cryptocurrency with the highest market cap, created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Bitcoin operates on a decentralized network which means no central authority controls it – this makes Bitcoin one of the most valuable cryptocurrencies available today with an estimated market cap exceeding $1 Trillion!
Bitcoin has gained widespread acclaim due to its secure and transparent nature, as well as its capacity as both a store of value and medium of exchange. Although its market capitalization remains large, its price remains notoriously volatile with regular drastic price swings; yet many investors still see it as an asset worth holding and potential protection against inflation.
2. Ethereum (ETH)
Ethereum (ETH) has quickly made waves in the digital currency world due to its innovative blockchain technology, ranking as the second-largest coin by market capitalization, currently worth over $200 billion. Ethereum is particularly well known for its smart contract capabilities that enable developers to create decentralized applications on its blockchain network.
Ethereum has also earned widespread respect due to its ERC-20 token standard, making it easy for other cryptocurrencies to emerge through its vast ecosystem of tokens. Merchants accept it widely while investors diversifying digital asset portfolios often invest in Ethereum as it diversifies risk. With the rise of decentralized finance (DeFi) applications expected in coming years, its market cap should only continue increasing further.
3. Tether (USDT)
Tether (USDT) is a stablecoin cryptocurrency designed to maintain a value equal to that of the US Dollar. As one of the most widely-held cryptocurrencies with an outstanding market cap, Tether is one of the most sought-after stablecoins, as its value pegs back onto US dollars directly – this means for every USDT in circulation there exists one held back as reserve – making Tether an appealing way for traders and investors alike to transfer funds between exchanges as well as an alternative form of fiat currencies like USDT.
Tether is currently the third-largest cryptocurrency by market cap, behind Bitcoin and Ethereum. While some have raised concerns regarding Tether’s reserves and transparency issues, many investors continue to choose Tether for stable investments within the volatile world of cryptocurrencies.
4. USD Coin (USDC)
USD Coin (USDC) is one of the top cryptocurrencies with the highest market capitalization, featuring one of the lowest volatility levels and pegged to one US Dollar – making it ideal for transactions and trading purposes. USDC runs on Ethereum blockchain technology and can be stored with any compatible wallet.
USDC transactions are fast and cost-effective, making them an excellent option for peer-to-peer payments and remittances. Since the rise of decentralized finance (DeFi), USDC has also become a valuable way of accessing DeFi protocols and earning yields on crypto assets. As the crypto market evolves further, USDC may remain one of the key players given its stability and utility.
5. Binance Coin (BNB)
Binance Coin (BNB), launched by Binance in 2017, is one of the top cryptocurrencies by market capitalization. Since its debut, BNB has seen steady market cap growth since becoming part of their exchange platform, and users can use BNB to pay trading and withdrawal fees with discounts available if using this currency. Furthermore, Binance has expanded the use of BNB beyond just exchange platforms by offering it as payment for goods and services outside their platform – further contributing to BNB becoming one of the must-watch cryptocurrencies of 2017.
6. Ripple (XRP)
Ripple (XRP) is one of the top cryptocurrency with the highest market cap, created to facilitate faster, cheaper, and more secure cross-border payments. Ripple operates on a decentralized network but isn’t fully decentralized like other cryptocurrencies do; Ripple Inc holds significant holdings of its currency which have drawn criticism from some in the cryptocurrency community.
Ripple has grown quickly within the financial industry, forming partnerships with major banks and payment providers. While its value may have fluctuated significantly over time, XRP remains one of the most valuable cryptocurrencies on the market – but as with any investment decision it is crucial that due diligence be done and risks understood prior to investing in Ripple or any other cryptocurrency.
7. Cardano (ADA)
Cardano (ADA) has quickly made waves in the digital currency space since its introduction. Designed as a more eco-friendly blockchain network than others, Cardano uses a proof-of-stake consensus algorithm which requires less energy consumption than Bitcoin’s proof-of-work algorithm.
Cardano stands out among other cryptocurrencies for its exceptional level of security, featuring a blockchain network designed to withstand attacks by quantum computers. Boasting an estimated market cap of $40 billion and growing adoption among businesses and individuals alike, Cardano remains a top contender among cryptocurrencies in terms of market capitalization. It has enjoyed tremendous popularity due to its innovative technology, strong community, and increased adoption.
8. Binance USD (BUSD)
Binance USD (BUSD) is a stablecoin pegged to the value of US dollars that has quickly become one of the fastest-growing stablecoins on the cryptocurrency market. BUSD was initially issued by Paxos Trust Company – an authorized financial institution and thus considered safe and secure because its backing by real US dollars.
The BUSD can be traded on Binance exchange and other cryptocurrency platforms that support this token, offering high liquidity and stability that makes it attractive to traders looking for ways to lower volatility of other cryptocurrencies. Overall, it represents an exciting stablecoin that promises a bright future within cryptocurrency market.
9. Solana (SOL)
Solana (SOL) is an emerging cryptocurrency that has quickly climbed the ranks to become one of the highest market cap coins since its release in 2020. Launched as an advanced blockchain with up to 65,000 transactions per second capacity, Solana provides an ideal platform for decentralized apps and the creation of digital assets.
Solana currently holds an estimated market cap of over $30 billion, making it the seventh-largest cryptocurrency by market cap. Due to its impressive growth and potential, Solana has captured investors and developers alike; investors and developers alike are paying attention. Boasting distinctive features and an exciting outlook, this cryptocurrency should not be underestimated!
10. Polkadot (DOT)
Polkadot (DOT) is one of the top cryptocurrency with the highest market cap, an open-source project designed to interoperate across different blockchains and allow developers to build applications known as parachains which communicate. DOT tokens are used for payments on the network as well as participating in governance decisions.
Polkadot stands out as an effective solution because of its ability to connect multiple blockchains together, creating a decentralized internet of blockchains. This feature makes Polkadot an appealing option for developers building applications requiring interoperability between different networks, and it has seen considerable interest from developers building such apps. As of July 2021, it had earned considerable market value – ranking among the top ten cryptocurrencies with over $15 billion valuation as of July 2021.
Its Cryptocurrencies have taken the world by storm, with Bitcoin leading the charge as the first and most widely known. But several other cryptocurrencies have gained significant market share and deserve consideration; those with the highest market cap include Bitcoin, Ethereum, Binance Coin and Cardano.
Bitcoin reigns as the undisputed champion of cryptocurrency with a market cap exceeding $1 trillion, yet remains highly volatile and widely accepted among investors. Ethereum follows suit with over $300 billion market cap and its smart contract capabilities being sought-after as an ideal platform for decentralized applications.
Also Refer : 6 Steps To Start Investing In Bitcoin