Bitcoin, the most valuable digital currency by market capitalization, has seen its value more than tenfold over the last year, as well as a sharp decline in price. However, several cryptocurrencies have risen to the top.
In terms of digital currencies, 2017/2018 was a successful year. Over the last few months, digital currencies like Bitcoin have surged in value, interest, and number, only to see their value collapse again before leveling out. Every week, new digital currencies are offered to investors, as well as a slew of blockchain-related companies, which are frequently supported by massive fundraising efforts via initial coin offerings (ICOs).
The fortunes fluctuate rapidly and occupy the majority of the space in the kingdom of virtual currencies. According to market capitalization as of mid-July 2018, these are the top ten digital currencies.
There are thousands of cryptocurrencies, from Bitcoin and Dogecoin to Tether and Ethereum to Ripple, making them a bit overwhelming for those who are just getting started with cryptocurrency. To help you navigate, below we have listed the top ten cryptocurrencies by market capitalization or total value of all coins in circulation.
Bitcoin was the first cryptocurrency, and it remains the undisputed market leader. Globally, the most valuable digital currency is valued at more than $125 billion and has a price per coin that exceeds $7,305, as of this writing.
The total market capitalization of Bitcoins is currently 17.1 million. This is contrary to earlier rumors that Bitcoin would be permanently replaced as the world’s most valuable currency by other digital currencies. This hasn’t yet happened. But the use of a Bitcoin wallet to store Bitcoins has increased to a great extent, which proves that Bitcoin is the favorite among all other crypto currencies.
2. Ethereum (ETH)
Cryptocurrency and blockchain platform Ethereum has been a favorite of programmers for years due to its applications, such as smart contracts that run automatically when conditions are met, and non-fungible tokens (NFTs).
The growth of Ethereum has been similarly explosive. Its price increased from roughly $11 to over $3,000 between April 2016 and March 2022, more than 27,000 percent.
The third most valuable company in the world is Ripple. Its market cap is more than $19.8 billion. Compared to the two highest digital currencies (and the next one after that), the price of each XRP token is relatively low. The token price is a little more than 50 cents as of this writing. In contrast, the overall supply of XRP is pretty abundant. The total number of crypto tokens in circulation is approximately 39 billion.
4. Bitcoin Cash
On our list, Bitcoin cash, a Bitcoin fork that happened as a result of a hard fork, is ranked fourth. The market capitalization of these digital currencies is approximately $14.5 billion, the market price of each coin is $843, and there are 17.2 million coins in circulation.The market capitalization of these digital currencies is approximately $14.5 billion, the market price of each coin is $843, and there are 17.2 million coins in circulation.
Top-ranked EOS rounds out the top five, with a market capitalization of $7.83 billion and a total supply of more than 896 million tokens. Compete with $100,000 in digital Cash without risking your investments
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6. Tether (USDT)
Tether is different from some cryptocurrencies in that it is a stablecoin, which means it is backed by fiat currencies like US dollars and Euros; therefore, its value remains consistent with those denominations. In principle, this means Tether should have a more stable value than other cryptocurrencies, which is why investors who are scared of the instability of other cryptocurrencies prefer it.