When it comes to cryptocurrencies, Bitcoin gets all the attention, but there are practically hundreds of other possibilities. In fact, cryptos that aren’t Bitcoin are commonly referred to as “altcoins,” or alternatives to Bitcoin.
While Bitcoin was the first big cryptocurrency to appear on the market (in 2009), numerous others have since grown in popularity, but not to the same extent as the original.
Here are the top cryptocurrencies in terms of total dollar worth of coins in circulation, also known as market capitalization or market cap. (As of May 27, 2022, data comes from CoinMarketCap.com.).
Cryptocurrencies with the highest market capitalization
1. Bitcoin (BTC)
$557 billion in market capitalization
Bitcoin is still the coin that people refer to when they talk about digital money since it was the forerunner of the cryptocurrency age. The currency was launched in 2009 by its mystery creator — purportedly Satoshi Nakamoto — and has been on a roller-coaster ride ever since. However, it wasn’t until 2017 that bitcoin became widely recognized.
2. Ethereum (ETH)
The cost is $1,797.
$219 billion in market capitalization
The second term you’re likely to remember in the crypto realm is Ethereum, which is the name for the cryptocurrency platform. The system lets you to utilize ether (the money) for a variety of tasks, but Ethereum’s smart contract feature contributes to its popularity.
3. Use a tether (USDT)
$72 billion in market capitalization
The price of Tether is set at $1 per coin. This is due to the fact that it is a stablecoin. Stablecoins are coins that are linked to the value of a certain asset, such as the US dollar in Tether’s instance. When traders switch from one cryptocurrency to another, Tether is frequently used as a bridge. They utilize Tether instead of returning to dollars. Some individuals are concerned, though, since Tether isn’t guaranteed by dollars kept in reserve and instead relies on unsecured debt
4. US Dollar Coin (USDC):
$53 billion in market capitalization
USD Coin, like Tether, is a stablecoin tied to the dollar, which means its value will not vary. According to the currency’s creators, the money is backed by completely reserved assets or assets with “equal fair value,” which are stored in accounts with regulated US institutions.
5. Binance Coin (BNB)
Price 305.71 dollars
$50 billion in market capitalization
Binance Coin is a cryptocurrency created by Binance, one of the world’s largest cryptocurrency exchanges. Binance Coin, which was originally designed to pay for reduced transactions, may now be used to make payments as well as purchase a variety of goods and services
6. XRP (XRP)
Price of XRP (XRP): $0.3927
$19 billion in market capitalization
XRP, formerly known as Ripple, was founded in 2012 and allows users to pay in a variety of real-world currencies. Ripple, which employs a trustless technique to allow payments, can be beneficial in cross-border transactions.
7. Binance USD (BUSD)
Price : $1.00
$18 billion in market capitalization
Binance USD is a dollar-backed stablecoin created by Binance in collaboration with Paxos. The New York Department of Financial Services regulates Binance USD, which was introduced in 2019. The Ethereum blockchain underpins BUSD…
8. Cardano (ADA)
Price of Cardano (ADA): $0.4725
$16 billion in market capitalization
Cardano is the cryptocurrency framework that underpins ada, the currency’s name. Cardano, which was created by the Ethereum co-founder, also employs smart contracts to provide identity management.
9. Solana (SOL).
$15 billion in market capitalization
Solana is a newer cryptocurrency that advertises the speed with which it completes transactions and the general stability of its “web-scale” network. It was launched in March 2020. The currency’s issue, known as SOL, is limited to 480 million coins.
10. Dogecoin (DOGE)
Price of Dogecoin (DOGE): $0.07895
$10 billion in market capitalization
Dogecoin gets its name from an online meme portraying a Shiba Inu dog, and was formed as a joke after the run-up in Bitcoin. Unlike many other digital currencies, Dogecoin has no restriction on the amount of coins it may issue. It may be used to transmit money or make payments.
11. Polkadots are one of the most popular patterns in the world (DOT)
$10 billion in market capitalization
Polkadot is a digital currency that integrates the blockchain technology of several other cryptocurrencies. It was launched in May 2020. One of Polkadot’s inventors is a co-founder of Ethereum, and some industry analysts believe Polkadot is attempting to dethrone Ethereum.
12. Wrapped Bitcoin (WBTC):
$29,136 Market capitalization: $8 billion12
Wrapped On the Ethereum blockchain, Bitcoin is represented by a token. This makes it easier to integrate the world’s largest cryptocurrency into the Ethereum ecosystem of decentralized exchanges and other applications. Wrapped Bitcoin was first introduced in 2019 and is backed 1:1 by Bitcoin.
The cryptocurrency market is a wild west (although the US government looks to be taking a more active role in monitoring the crypto field), therefore investors should not risk more than they can afford to lose. In 2022, there has been a lot of volatility, with crypto assets moving a lot. Since reaching all-time highs in November 2021, the market has been in free fall. Individual investors may also be trading against highly sophisticated players, making it a risky experience for inexperienced investors.