What is Topping the Charts?
Top 20 Cryptocurrencies by Market Capitalization: a blog about the trending cryptocurrencies.
The cryptocurrency market is currently worth more than $250 billion dollars, with Bitcoin and Ethereum accounting for nearly 75 percent of that valuation, according to CoinMarketCap.
But there are hundreds of other up-and-coming cryptocurrencies trying to get their share of the digital currency pie and they are worth billions of dollars in their own right. And with the buzz around these digital currencies rising, it only makes sense to write a blog post about them.
Here’s a list of the 20 most valuable cryptocurrencies and what they’re all about:
• Bitcoin (BTC) – $159.2 billion
Bitcoin is the first cryptocurrency and it remains the best-known. Created by Satoshi Nakamoto in 2009, it was designed as a peer-to-peer electronic cash system to replace government-issued money. Nowadays, Bitcoin is used as an investment vehicle, although it has been criticized for its volatility, scalability issues and energy inefficiency.
• Ethereum (ETH) – $30.4 billion
A smart contract platform founded by Vitalik Buterin in 2015, Ethereum aims to
The cryptocurrency market continues to grow and evolve. While Bitcoin remains by far the most popular and well-known, many altcoins are on the rise.
A look at the top 20 cryptocurrencies by market capitalization shows a healthy market with some strong and established players, as well as plenty of promising new entrants.
The top 20 is a good snapshot of the state of play in the crypto world and shows which coins are being taken seriously by investors. Here are details of what these cryptocurrencies do, their place in the market, and their pros and cons.
In this article, we will talk about the top 20 cryptocurrencies by market capitalization. Thus, we are going to make a list of the most popular currencies and describe them briefly. So, before we get started, let’s find out what is market capitalization?
Market Capitalization (market cap) is one of the fundamental metrics used to assess the value and potential of a project. In simple terms, it is a measure of the value of a cryptocurrency or a company that equals its current share price multiplied by the number of shares. In case with cryptocurrency, it is calculated based on its circulating supply.
Market capitalization is an indicator that helps us understand how large a particular cryptocurrency project is. It helps us to understand how successful or unsuccessful it was during its existence and whether it has prospects for development in the future. Currently, there are more than 2,000 cryptocurrencies listed on CoinMarketCap; however, only some of them have high market cap compared to others.
There are so many cryptocurrencies out there and new ones popping up almost daily. At the same time, some of them just disappear after a while. The question is: which ones have a good chance of becoming valuable in the future? And what is it that makes them stand out among all others? Most of the time, it is their market capitalization that gives the right answer.
1. Bitcoin (BTC)
The King of Crypto Coins remains at the top of this list. It represents half of all other coins in terms of market cap and it has a price tag between $7000 and $8000. There have been numerous attempts to dethrone Bitcoin but none was successful so far and it seems that they will not be in the near future either.
2. Ethereum (ETH)
This cryptocurrency was launched by Vitalik Buterin back in 2015 and it has managed to become one of the most popular ones, with a market cap over $50 billion. Its price varies from $400 to $500 at the moment. The coin is used for several different purposes but most importantly for running smart contracts on its own blockchain platform.
3. Ripple (XRP)
This altcoin was developed back in 2012 by Chris Larsen as an open-source
Bitcoin has been the top-performing currency in the world in six of the past seven years, climbing from zero to a new high value of about $15,000. But the cryptocurrency isn’t anywhere close to its potential, according to Jeremy Liew, the first investor in Snapchat, and Peter Smith, the CEO and co-founder of Blockchain.
The two believe bitcoin can eventually hit $500,000 by 2030.
“As cryptocurrency comes into mainstream consciousness, so too will its use as a payment method,” they wrote in an emailed note to Business Insider. “We expect that bitcoin’s usage as a payment method will steadily increase over the coming decades.”
They added that mass adoption is only a matter of time: it just hasn’t happened yet because the technology is so new.
“It’s still very difficult for consumers to spend cryptocurrencies at most retailers,” they wrote. “However, given that this is a software problem we are confident it will ultimately be solved.”
Here are their arguments for why bitcoin could hit that eye-popping figure:
Bitcoin is the pioneer of cryptocurrency and has been around for almost a decade. It was created by Satoshi Nakamoto in 2009, who published the invention on an academic paper to a cryptography mailing list. The Bitcoin network came into existence in January 2009 after Satoshi Nakamoto mined the first Bitcoin block, known as the genesis block.
Bitcoin was only intended to be a peer-to-peer electronic cash system however since its inception, it has seen a significant rise in popularity and value. Controversial in its own right, Bitcoin has garnered a lot of attention from media outlets and consumers alike.