Finance

Top 7 Cryptocurrencies by Market Capital

Deepak GuptaApril 20, 2023
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There are dozens of different cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether, which might be confusing when you’re just starting in the world of crypto. To help you get started, these are the top ten cryptocurrencies in terms of market capitalization, or the total value of all coins currently in circulation. Explore bitsoft360 if you want to gain proper information about bitcoin trading.

Each of these cryptocurrencies has its own purpose, technology and use-case, so it’s important to do your research and understand which ones might be right for you before investing any money into them. Cryptocurrencies can be volatile investments, so it’s always a good idea to practice safe investing practices and not put all of your eggs in one basket when making crypto purchases.

Bitcoin

(BTC) – Bitcoin is the original and most popular cryptocurrency, with a market cap of roughly $1 trillion. It is used as a store of value, for payment systems, and for smart contracts.

Ethereum (ETH)

Ethereum is the second-largest cryptocurrency by market cap and its native token Ether (ETH) has a current market cap of over $200 billion. Ethereum was designed as an open-source platform that allows developers to create their own decentralized applications (dApps).

Tether (USDT)

Tether is one of the newer cryptocurrencies on this list with a market cap of almost $60 billion. The USDT token issued by Tether represents US dollars held in reserve, so its value remains relatively stable compared to other cryptocurrencies.

Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is a fork of the original Bitcoin blockchain, with a market cap of over $30 billion. The BCH blockchain was created to improve scalability and transaction speeds compared to Bitcoin.

Binance Coin (BNB)

Binance Coin is the token used on the cryptocurrency exchange Binance, which is one of the largest exchanges in terms of trading volume and number of users. BNB has a market cap of over $45 billion and can be used for various services on the Binance platform, including trading fees and payments for services.

Cardano (ADA)

Cardano is a smart contract platform that utilizes its own native cryptocurrency ADA and has a market cap of roughly $40 billion. Cardano is designed to be more secure and reliable than other smart contract platforms like Ethereum, while also offering improved scalability and transaction speeds.

Litecoin (LTC)

Litecoin was created as an alternative to Bitcoin that offers faster transactions with lower fees. It has a current market cap of over $14 billion and is one of the most popular cryptocurrencies in terms of trading volume.

Polkadot (DOT)

Polkadot is a blockchain-based platform that seeks to allow for interoperability between different blockchains by connecting them together through its own native token DOT. It currently has a market capitalization just shy of $30 billion.

Final Words

Cryptocurrencies can be volatile investments, so it is important to do your research and understand the fundamentals of each currency before investing. Additionally, it is always a good idea to practice safe investing practices and not put all of your eggs in one basket when making crypto purchases. The above list includes some of the most popular cryptocurrencies by market capitalization, but there are many more out there with unique use-cases and potential applications. It is ultimately up to you to decide which cryptocurrency fits best into your investment plan. Happy investing!

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Deepak GuptaApril 20, 2023
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