The 12 most popular cryptocurrencies
the bitcoin Make headlines when it comes to cryptocurrencies, but there are thousands of other options when it comes to these digital currencies. In fact, cryptocurrencies that are not Bitcoin are generally considered to be “others” – the so-called “altcoins”, or alternatives to Bitcoin.
While bitcoin was the first major cryptocurrency to enter the market – it debuted in 2009 – many others have become very popular, although not as big as the original bitcoin.
Here are the largest cryptocurrencies based on the total USD value of the coins in existence, i.e. market capitalization or “market cap”. Among these cryptocurrencies, you can also invest through specialized platforms such as Coinsmartwhich allows you to explore and invest in a wide range of cryptocurrencies.
Now, let’s explore these 12 popular cryptocurrencies:
Top cryptocurrencies by Market Cap
1- Bitcoin (BTC)
- value : $26,828
- Market capitalization: 532 billion dollars
Precursor to the age of cryptocurrency, Bitcoin is still the currency people usually refer to when discussing digital currency.
It was launched by its mysterious creator, Satoshi Nakamoto, in 2009 and has continued to evolve up and down since then. However, the cryptocurrency did not enter the public consciousness until 2017.
2. Ethereum (ETH)
- value : $1,817
- Market capitalization: $226 billion
Ethereum – The name of the cryptocurrency platform – is the second name you are most likely to recognize in the crypto space.
The system allows you to use Ether (the currency) to perform a number of functions, but the “smart contract” aspect of Ethereum helps make it a popular currency.
3.Tether (USDT)
- value : $1
- Market capitalization: $83 billion
The price of Tether is pegged to $1 per coin. This is because it is what is called a stablecoin. Stablecoins are pegged to the value of a specific asset, in the case of Tether, the US dollar.
Tether is often used as an intermediary when traders move from one cryptocurrency to another. Instead of going back to the dollar, they are using Tether. However, some people are concerned that Tether is not backed by dollars as a reserve, but instead uses a form of short-term unsecured debt.
4. BNB (BNB)
- value : $308.95
- Market capitalization: $49 billion
BNB is the cryptocurrency issued by Binance, one of the largest cryptocurrency exchanges in the world. While it was originally created as a payment token for discounted transactions, Binance Coin can now be used for payments as well as the purchase of various goods and services.
5. USD Coin (USDC)
- value : $1
- Market capitalization: $30 billion
Like Tether, the USD coin is a stablecoin that is pegged to the dollar, meaning its value should not fluctuate.
The coin’s founders claim that it is backed by fully booked assets or assets of “equivalent fair value” and that these assets are held in accounts with US regulated institutions.
6.XRP (XRP)
- value : $0.46
- Market capitalization: $22 billion
Formerly known as Ripple, it was created in 2012. XRP It offers a way to pay in many real currencies. Ripple can be useful for cross-border transactions and uses a trustless mechanism to facilitate payments.
7. Cardano (ADA)
- value : $0.37
- Market capitalization: $13 billion
Cardano is the cryptocurrency platform behind ada, the name of the coin. Created by the co-founder of Ethereum, Cardano also uses smart contracts, enabling identity management.
8. Dogecoin (DOGE)
- Value: $0.073
- Market value: $10 billion
A file has been created Dogecoin It takes its name from an internet meme depicting a dog shiba inus.
Unlike many digital currencies that limit the number of coins in existence, Dogecoin issuance is unlimited. It can be used to make payments or send money.
9. Solana (SOL)
- value : $19.86
- Market capitalization: $8 billion
Launched in March 2020, Solana is a new cryptocurrency that touts its speed of transacting and overall robustness of its platform “on the web.” The issuance of the currency, called SOL, has a maximum limit of 480 million coins.
10. Polygon (Matic)
- value : $0.86
- Market capitalization: $8 billion
Polygon is a cryptocurrency that focuses on accessibility for those who create digital applications and expands the scope of the Ethereum cryptocurrency.
It was formerly known as Matic and formed in 2017, though it changed its name to Polygon in 2021.
11. Litecoin (LTC)
- value : $91.38
- Market capitalization: $6 billion
Launched in 2011, Litecoin is one of the first cryptocurrencies, and it is also one of the most popular cryptocurrencies, and it can be traded at many non-cryptocurrency brokers. This cryptocurrency is based on the Bitcoin source code and has a fixed maximum supply of 84 million coins.
12. Polkadot (DOT)
- value : 5.33 US dollars
- Market capitalization: $6 billion
Launched in May 2020, Polkadot is a digital currency that connects blockchain technology to many different cryptocurrencies.
One of the founders of Ethereum is one of the inventors of Polkadot, and some industry observers believe that Polkadot is looking to get rid of Ethereum.
Conclusion
The cryptocurrency market is a real wasteland, and speculators in these digital assets should not invest more money than they can afford to lose.
Crypto assets have been under downward pressure for most of 2022 and trading remained volatile until early 2023. It is also important to note that individual investors often trade against very sophisticated, making the experience risky for the uninitiated.