While Bitcoin may have been the first significant cryptocurrency to hit the market, many other coins have become highly popular. Here are the largest cryptocurrencies by the total dollar value of the coins in market capitalization.
Bitcoin
Bitcoin was the first successful blockchain-based currency to hit the market in 2009. Bitcoin operates free of any central control or the oversight of banks or government authority. Now bitcoin is still the coin people generally reference when talking about digital currency. This is why many crypto investors make it one of the best cryptocurrencies to buy and hold.
Market cap ~$808 billion
Ethereum
Ethereum is the second most popular cryptocurrency. It is an open-source blockchain to boost potential applications efficiently. The primary purpose of ether (currency) is to facilitate and monetize the operation of the Ethereum smart contract and dApp platform. Ethereum was intended to complement rather than compete with bitcoin, but it has nonetheless emerged as a competitor on cryptocurrency exchanges.
Market cap ~$360 billion
Tether
Tether is useful for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies. That’s called a stablecoin. Stablecoins are tied to the value of a specific asset, in Tether’s case, the U.S. Dollar. Tether often acts as a medium when traders move from one cryptocurrency to another. But some experts are concerned that Tether isn’t safely backed by dollars held in reserve.
Market cap ~$81 billion.
Binance Coin
Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol. Binance is among the largest crypto exchanges in the world. Binance Coin was originally created as a token to pay for discounted trades. Now it can be used for payments as well as purchasing various goods and services.
Market cap ~$67 billion.
USD Coin (USDC)
USD Coin is an Ethereum-based stablecoin created by Circle and managed by a consortium called Center. Like Tether USD Coin, is pegged to the dollar, meaning that its value should not fluctuate. The currency’s founders say that fully reserved assets and those assets back it are held in accounts with regulated U.S. institutions.
Market cap ~$53 billion.
Ripple (XRP)
Ripple is a blockchain platform designed in 2012 to help people send money across borders. Ripple’s developers also operate an enterprise blockchain network called RippleNet, which has partnered with over 100 financial institutions globally.
It is also very much worth investing in XRP because not only is it a smart choice in the cryptocurrency space for its differences, but it is also a coin that is on the lower side at the moment.
Market cap ~$40 billion.
Terra (LUNA)
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of bitcoin. Some investors think that Terra is one of the best cryptocurrencies that are worth buying.
Market cap ~$34 billion.
Cardano
Cardano (ADA) is a blockchain platform built on a proof-of-stake consensus protocol (called Ouroboros) that validates transactions without high energy costs. Created by the co-founder of Ethereum, Cardano also uses smart contracts, enabling identity management.
Market cap ~$33 billion
Solana
Launched in March 2020, Solana is one of the newer cryptocurrencies. Solana is the fastest blockchain in the world and the fastest-growing ecosystem in crypto, with thousands of projects spanning DeFi (decentralized finance), NFTs, Web3, and more. The issuance of the currency, called SOL, is capped at 480 million coins.
Market cap ~$30 billion.
Avalanche
Avalanche, along with Solana, is another example of a crypto that has a clear purpose, as opposed to meme coins. Avalanche is a fast and low-cost smart contracts-based blockchain platform focused on building decentralized apps and facilitating the creation of custom blockchains. Avalanche is one of the many projects seeking to “unseat Ethereum,” as one of the most widely used blockchain platforms.
Market cap ~$23 billion
The cryptocurrency market evolves. It has turned out to be one of the fastest-growing markets in the world. Many established cryptocurrencies have appreciated in market cap radically. You can invest in these coins to create a balanced investment portfolio.
If you are a beginner, you can start your crypto investing with bitcoins. One of the safest and most user-friendly crypto exchanges is EvBlock. EvBlock was created by financial company EVANERA to help people buy crypto in the easiest way. Visit https://evblock.com/ to start your journey to success in the cryptocurrency market.