The potential worth of all Bitcoins, or their market capitalization, is greater than the combined stock prices of Walt Disney and Mastercard. The oldest cryptocurrency in the world, however, isn’t the only one challenging traditional equities today.
Since their launch, cryptocurrencies like Ether, Cardano, Ripple, and others have experienced rapid growth. Such “altcoins” are valuable enough to be valued in the billions of dollars, making each one lucrative enough to stand alone as a unicorn firm on a conventional stock exchange.
The combined value of the top ten cryptocurrencies is more than $1.2 trillion.
Even if several currencies may trade in higher volumes on any one day, these ten currencies remain in the top 10 due to their aggregate market capitalization.
Capitalization: over $641 billion
Bitcoin (BTC) is the first cryptocurrency, having been developed in 2009 by a person using the alias Satoshi Nakamoto. BTC operates on a blockchain, which is a ledger that records transactions and is shared over a network of thousands of computers, like the majority other cryptocurrencies. Bitcoin is maintained secure and protected from fraudsters because updates to the distributed ledgers have to be validated by cracking a cryptographic puzzle, a procedure known as proof of work.
As Bitcoin has gained popularity, its price has risen. Five years ago, one Bitcoin cost around $500. A single Bitcoin was worth about $32,000 as of June 2021. The increase there is almost 6,300%.
Market capitalization: $307.7 billion
Because of its potential uses, including so-called “smart contracts” that automatically execute when certain conditions are fulfilled and non-fungible tokens, Ethereum—which is both a cryptocurrency and a blockchain platform—is a darling among programmers (NFTs).
Ethereum has also grown quite fast. Its price increased by about more than 22,000% from about $11 to over $2,500 in only five years.
Over $62 billion is the market cap.
Tether (USDT) is a stablecoin, which means it’s backed by fiat currencies like U.S. dollars and euros and theoretically maintains a value equal to one of those denominations, unlike certain other types of cryptocurrencies. As a result, investors who are cautious of the severe volatility of other coins choose Tether since its value is theoretically expected to be more stable than that of other cryptocurrencies.
Capitalization: above $56 billion
You can trade and pay fees on Binance, one of the biggest cryptocurrency exchanges in the world, using the Binance Coin cryptocurrency.
Binance Coin has grown since it was introduced in 2017, and it now does more than just enable transactions on Binance’s exchange platform. Now, it may be utilised for trading, processing payments, or even making trip plans. Additionally, it may be sold or converted into other cryptocurrencies like Ethereum or Bitcoin.
In 2017, it cost only $0.10; by June 2021, it had increased to approximately $350, a growth of about 350,000%.
Capitalization: above $51 billion
Cardano is noteworthy for using proof-of-stake validation early while entering the crypto industry somewhat later. By eliminating the competitive, problem-solving part of transaction verification seen in systems like Bitcoin, this approach reduces energy consumption, increases transaction speed, and has a smaller negative impact on the environment. Similar to Ethereum, Cardano uses ADA, its native token, to power smart contracts and decentralised apps.
In comparison to other significant crypto currencies, the rise of the Cardano ADA token has been somewhat muted. The cost of ADA was $0.02 in 2017. In June 2021, the cost was $1.50. This is a 7,400% gain.
Capitalization: above $13 billion
Uniswap (UNI), a decentralised cryptocurrency exchange that employs an automated liquidity approach for trading, is powered by an Ethereum-based token called Uniswap. This indicates that a central facilitator like a bank or broker-dealer does not exist. Instead, it is powered by a pool of user resources and smart contracts. Anyone may use the code to develop their own exchanges because the Uniswap platform is open source.
Uniswap’s pricing was $0.48 when it was first introduced in 2020. Its price rose by 5,025% to $24.60 in June 2021.
Capitalization: above $21 billion
Various blockchains may be used by cryptocurrencies; Polkadot (and its namesake coin) tries to unify them by building a cryptocurrency network that links the different blockchains so they can cooperate. Since Polkadot’s inception in 2020, this integration has sparked significant growth and may transform how cryptocurrencies are maintained. Its cost increased by 615% between September 2020 and June 2021, from $2.93 to $20.95.
Capitalization: above $23 billion
Similar to Tether, USD Coin (USDC) is a stablecoin that aspires for a 1 USD to 1 USDC ratio and is backed by U.S. dollars. Ethereum powers USDC, and you may use USD Coin to execute cross-border transactions.
Market cap: $40 billion or more
XRP is a cryptocurrency that may be used on that network to allow trades of many currency kinds, including fiat currencies and other significant cryptocurrencies. It was developed by some of the same founders as Ripple, a digital technology and payment processing firm.
XRP was worth $0.006 at the start of the year 2017. Its price increased by 15,233% to $0.92 as of June 2021.