There are thousands of different cryptocurrencies, including Tether, Dogecoin, and Bitcoin, which can be overwhelming when you first start out in the crypto world.These are the top ten cryptocurrencies based on their market capitalization—the sum of the value of all coins that are in circulation at the time—to help you get your bearings.
.Market cap of Bitcoin (BTC):Over $846 billion Bitcoin (BTC) is the first cryptocurrency. It was created in 2009 under the name Satoshi Nakamoto.BTC is based on a blockchain, or a distributed ledger that records transactions across a network of thousands of computers, just like the majority of cryptocurrencies.Bitcoin is kept safe from fraudsters because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process known as proof of work.
As Bitcoin has grown in popularity, its value has skyrocketed.A Bitcoin could be purchased for approximately $500 in May 2016.The price of a single Bitcoin was more than $44,000 on March 1, 2022.That is roughly 7,800% growth.
Market value of Ethereum (ETH):Over $361 billion Ethereum is a cryptocurrency and blockchain platform that programmers favor due to its potential applications, such as non-fungible tokens (NFTs) and so-called smart contracts that automatically execute when conditions are met.
Additionally, Ethereum has experienced rapid expansion.Its price increased by more than 27,000 percent between April 2016 and the beginning of March 2022, going from approximately $11 to over $3,000.
Market value:Over $79 billion Tether is a stablecoin, which means it is backed by fiat currencies like U.S. dollars and the Euro and hypothetically maintains a value equal to one of those denominations. This is in contrast to some other types of cryptocurrencies.Because of this, investors who are wary of the extreme volatility of other coins favor Tether because, in theory, its value is supposed to be more consistent than that of other cryptocurrencies.
The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world.
Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.
BNB’s price in 2017 was just $0.10. By the beginning of March 2022, its price had risen to around $413, a gain of approximately 410,000%.
Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.
At the beginning of 2017, the price of XRP was $0.006. As of March, 2022, its price reached $0.80, equal to a rise of more than 12,600%.
Cardano's early adoption of proof-of-stake validation is notable, despite the fact that it came to the crypto scene somewhat later.By eliminating the competitive, problem-solving aspect of transaction verification found in platforms like Bitcoin, this method reduces energy consumption, speeds up transactions, and has less of an impact on the environment.Cardano, like Ethereum, enables decentralized applications and smart contracts powered by ADA, its native coin.
When compared to the other major crypto coins, Cardano's ADA token has experienced relatively modest growth.The cost of ADA was $0.02 in 2017.It was priced at $0.99 on March 1, 2022.This represents a 4,850% increase.
Polkadot (DOT) is a one-of-a-kind blockchain interoperability protocol created in 2016 to link various chains together.It also makes it possible to process transactions and exchange data for parachains, also known as parallel blockchains, without jeopardizing their security.Using the Polkadot security, developers can create their own blockchains.
Polkadot was created by Gavin Wood, the main Ethereum founder.The fact that the total supply of DOT is not strictly limited is an exciting feature.Instead, a brand-new token is constantly in use.
The price of Polkadot reached its highest point in May 2020, when it was $6.30, and it reached its all-time high in May 2021, when it was $55.11
