Top 10 Cryptocurrencies with the Highest Market Capitalization

The value and interest in cryptocurrencies has skyrocketed in the last few months. After the sudden rise in Bitcoin price people became interested in cryptocurrencies and many cryptocurrencies experienced a sudden rise in their market capitalization. Some people became millionaires and even billionaires from cryptocurrencies. Everyone knows about the ethereum youngest billionaire Vitalik Buterin who became a billionaire after a sudden rise in the market value of ethereum. Below we have some of the best cryptocurrencies on the basis of their market capitalization.

10. Polkadot (DOT)

Polkadot, abbreviated DOT, is a cryptocurrency released in 2020. It was started by another Ethereum co-founder and can be used to connect blockchains together securely. The currency became famous due to its plans to expand the functionality of its predecessors and maintains a mindset to build a decentralized internet. The famous cryptocurrencies Bitcoin and Ethereum process 3 transactions every second but Polkadot can process more transactions than Bitcoin and Ethereum. This cryptocurrency runs on the Ethereum Blockchain process.

9. Solana (SOL)

Solana is an autonomous blockchain platform that came into existence in 2020 and has since then established itself as a formidable player in the realm of blockchain technology. The platform is bolstered by its eponymous native cryptocurrency, which has gained substantial traction within the digital currency market. Notably, Solana's robust framework and functionality make it a popular choice for smart contract deployment and more recently, non-fungible token (NFT) transactions. Ethereum, a comparable platform with comparable capabilities, is often considered Solana's closest competitor.

8. Binance USD (BUSD)

Binance USD is the second coin on this list from the Binance cryptocurrency exchange. It is a centralized stablecoin based on Ethereum.

7. Cardano (ADA)

Cardano distinguishes itself from its recent predecessors by operating as a decentralized, open-source, public blockchain. Since its inception in 2017, Cardano has established a noteworthy presence within the blockchain ecosystem. It is worth noting that the development of Cardano began in 2015, with the active involvement of a co-founder of Ethereum.

6. Ripple (XRP)

XRP is a decentralized cryptocurrency that uses the Ripple protocol to prioritize speed while minimizing costs. It is an older cryptocurrency that debuted in 2012. According to reports, XRP is a quick and secure way to send digital payments.

XRP is a cryptocurrency that operates primarily on the XRP ledger. Arthur Britto, Jed McCaleb, and David Schwartz created the XRP ledger, which is a blocked chain. This cryptocurrency has been underperforming in recent weeks, with a significant drop in market value and market capitalization.

5. Binance Coin (BNB)

Binance Coin's market value has risen dramatically since the beginning of 2021. The digital currency has proven to be a formidable rival to Bitcoin and Ethereum. As interest in cryptocurrency grows, more people have invested in Binance Coin, but this resulted in a very high rise, and the currency was unable to break its peak record of $433. Binance Coin suffered as a result of the split between Bitcoin and Elon Musk.

4. USD Coin (USDC)

USD Coin, abbreviated to USDC, is the second most popular stablecoin. USDC, like USDT, is centralized and backed by cash and US T-bills. Interestingly, you can see the underlying assets here, which are roughly 20% cash and 80% short-term T-bills. Check out the CMSA course on Short Duration Products to learn more about them.

3. Tether (USDT)

Because it is a centralized cryptocurrency, the third largest coin at the time of writing differs from Ether and BTC. Tether is the largest stablecoin, with its price tied to the US dollar. Tether is frequently abbreviated as USD or USDT. This stablecoin is controlled by iFinex, which also controls the Bitfinex exchange.

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2. Ethereum (ETH)

Ethereum was officially released in 2015. Also, it has captured a huge market in its starting years at a higher speed than Bitcoin. Ethereum also works on the block chained technology just like Bitcoin. And it is the most actively used cryptocurrency because it is considered to be more stable than Bitcoin.

Ethereum and its native token, "Ether," are widely considered as the most formidable alternative to Bitcoin. Ethereum's underlying blockchain network is designed to supplant conventional financial institutions such as banks and brokerages, utilizing decentralized applications, commonly known as "DeFi," for financial transactions. It is noteworthy that Ether serves as the essential fuel for executing transactions on the Ethereum blockchain.

1. Bitcoin (BTC)

Bitcoin is the most significant and widely recognized cryptocurrency, as measured by market capitalization. It was brought to fruition by Satoshi Nakamoto in 2009 and operates as a decentralized digital currency, allowing for the transfer of ownership without intermediaries. Bitcoin's extensive influence within the digital currency ecosystem is widely acknowledged, as it has transformed the lives of countless individuals.

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