12 Most Popular Cryptocurrency

12 Most Popular Cryptocurrency

When it comes to cryptocurrencies, Bitcoin gets all the attention, but there are practically thousands 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, albeit 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 April 21, 2022, the data comes from CoinMarketCap.com.

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The Most Valuable Cryptocurrency In Terms Of Market Capitalization.

1_Bitcoin (BTC)

• Price: $42,539

• Market capitalization: $807 billion

Bitcoin is still the coin that people refer to when they talk about digital currency because it was the forerunner of the cryptocurrency era. 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)

• Price: $3,152

• Market capitalization: $379 billion

The second term you're likely to remember in the crypto space is Ethereum, which is the name of the cryptocurrency platform. The system allows you to use ether (the currency) for a variety of tasks, but Ethereum's smart contract feature contributes to its popularity.

3_Tether (USDT)

• Price: $1.00.

• Market capitalization: $83 billion

Tether’s price is anchored at $1 per coin. That’s because it is what’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. Rather than move back to dollars, they use Tether. However, some people are concerned that Tether isn’t safely backed by dollars held in reserve but instead uses a short-term form of unsecured debt.

4_Binance Coin (BNB)

• Price: $425.21

• Market capitalization: $69 billion

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 discounted transactions, may now be used to make payments as well as purchase a variety of goods and services.

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5_USD Coin (USDC)

• Price: $1.00

• Market capitalization: $50 billion

USD Coin, like Tether, is a stable coin tied to the dollar, which means its value will not vary. According to the currency's creators, the money is backed by fully reserved assets or assets with "equal fair value," which are stored in accounts with regulated US institutions.

6_ XRP (XRP)

• Price: $0.7572

• Market capitalization: $36 billion

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 enable payments, can be helpful in cross-border transactions.

7_Solana (SOL)

• Price: $108.73

• Market capitalization: $36 billion

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 enable payments, can be helpful in cross-border transactions.

8_Terra (LUNA)

• Price: $98.09

• Market capitalization: $35 billion

Terra is a platform that helps backstop a variety of stablecoins based on actual currencies like the dollar or euro, using its currency Luna. Terra uses a variety of technical methods to help steady the price of stablecoins, and it also enables smart contracts.

9_Cardano (ADA)

• Price: $0.9596

• Market capitalization: $32 billion

Cardano is the cryptocurrency framework that underpins ADA, the currency's name. Cardano, created by the Ethereum co-founder, also uses smart contracts to provide identity management.

10_Avalanche (AVAX)

• Price: $79.66

• Market capitalization: $21  billion

Avalanche is a smart contract-based blockchain platform that focuses on developing decentralized apps and supporting the establishment of unique blockchains at a minimal cost. Its users can conduct transactions using the AVAX native token.

11_Polkadot (DOT)

• Price: $19.42

• Market capitalization: $19  billion

Polkadot is a digital currency that integrates the blockchain technology of many different cryptocurrencies. It was launched in May 2020. One of Polkadot's inventors is a co-founder of Ethereum, and some industry watchers believe Polkadot is attempting to dethrone Ethereum.

12_Dogecoin (DOGE)

• Price: $0.1414

• Market capitalization: $19  billion

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 number of coins it can issue. It can be used to send money or make payments.

In conclusion: The cryptocurrency market is a wild west (although the US government appears to be taking a more active role in monitoring the crypto field), therefore investors should not risk more than they can afford to lose. The volatility of crypto-assets can be extreme, with prices moving dramatically even within a single day. Individual investors may also be trading against highly sophisticated players, making it a risky experience for inexperienced investors.

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