Largest cryptocurrencies by market cap.
Cryptocurrencies have gained a lot of popularity in recent years due to their decentralized nature and the potential for significant returns on investment. Here are the top 12 cryptocurrencies by market capitalization, along with a brief explanation of each:
Price: $23,234.19
Market cap: $448.55 billion
Bitcoin (BTC): The original cryptocurrency, created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin is the largest and most well-known cryptocurrency. Bitcoin is still the coin people generally reference when they talk about digital currency.
Price: $1,605.30
Market cap: $196 billion
Ethereum (ETH): Launched in 2015, Ethereum is a decentralized platform that enables developers to build and deploy decentralized applications (dapps) using smart contracts. It is currently the second-largest cryptocurrency by market capitalization.
3. Tether (USDT)
Price: $1.00
Market cap: $70.86 billion
Tether (USDT): Tether is a stablecoin that is pegged to the value of the US dollar. It is designed to provide a stable value for transactions on cryptocurrency exchanges, without the volatility of other cryptocurrencies. 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. BNB (BNB)
Price: $304.20
Market cap: $48 billion
Binance Coin (BNB): Binance Coin is the native cryptocurrency of the Binance exchange, the world's largest cryptocurrency exchange by trading volume. It is used to pay trading fees on the Binance platform and for other services provided by the exchange.
5. USD Coin (USDC)
Price: $0.9999
Market cap: $42.59billion
USD Coin (USDC) is a stablecoin that is pegged to the value of the U.S. dollar on a 1:1 basis. It was launched in 2018 by a consortium called Centre, which includes major cryptocurrency exchange Coinbase and payments company Circle. USDC can be used for a variety of purposes within the cryptocurrency ecosystem, such as trading on cryptocurrency exchanges, making payments, and sending money globally.
6. XRP (XRP)
Price: $0.3764
Market cap: $19.18billion
XRP (XRP): XRP is the native cryptocurrency of the Ripple network and was created in 2012, which is designed to facilitate fast and cheap cross-border payments. It is often used by banks and financial institutions for international money transfers.
7. Cardano (ADA)
Price: $0.3631
Market cap: $12.58 billion
Cardano(ADA): Cardano is a decentralized platform that aims to provide a more secure and sustainable way to run smart contracts and decentralized applications. It is often compared to Ethereum, but with a focus on scientific research and peer-reviewed development.
8. Binance USD (BUSD)
Price: $1.00
Market cap: $11.13 billion
Binance USD was launched in 2019 and is a stablecoin issued by Binance, one of the world's largest cryptocurrency exchanges. Binance USD is backed by reserves of U.S. dollars held in a bank account, and the supply of BUSD is regularly audited to ensure that it matches the amount of U.S. dollars held in reserve. BUSD can be used for a variety of purposes within the Binance ecosystem, such as trading cryptocurrencies, paying fees on the Binance exchange, and making purchases with merchants that accept BUSD.
9. Polygon (MATIC)
Price: $1.27
Market cap: $11.12 billion
Polygon (MATIC) is a layer 2 scaling solution for Ethereum that aims to improve the scalability and usability of the Ethereum network. It was formerly known as Matic Network in 2017 but rebranded to Polygon in February 2021. Polygon has gained popularity in the decentralized finance (DeFi) space due to its low transaction fees and fast transaction speeds, making it a popular choice for traders and users of decentralized exchanges (DEXs) and other DeFi applications. It has also attracted several high-profile projects and partnerships, including Aave, Curve Finance, and Decentraland.
10. Dogecoin (DOGE)
Price: $0.08148
Market cap: $10.81 billion
Dogecoin (DOGE): Dogecoin was created in 2013 as a joke after the run-up in Bitcoin. It is often used for small transactions and has been popularized by celebrities and social media influencers. Dogecoin has unlimited issuance that can be used for payments or sending money.
11. Solana (SOL)
Price: $22.90
Market cap: $8.66 billion
Solana (SOL): Launched in March 2020, Solana is a high-performance blockchain that can process up to 65,000 transactions per second. It is designed to provide a scalable and secure "web-scale platform" for decentralized applications and other blockchain-based services.
12. Polkadot (DOT)
Price: $6.59
Market cap: $7.66 billion
Polkadot (DOT): Polkadot is a blockchain platform Launched in May 2020 that enables different blockchains to work together seamlessly. It is designed to provide a more scalable and interoperable infrastructure for decentralized applications.
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