10 Cryptocurrency types in terms of popularity

10 cryptocurrency types in terms of popularity

While several other cryptocurrencies have gained enormous popularity, Bitcoin may have been the first significant cryptocurrency to enter the market when it launched in 2009. and since then, the crypto market have seen a lot of digital currencies being introduced to the space These currencies are known as ‘Altcoins’

As times goes on, Bitcoin gains strength & reputation, and some of these altcoin also get recognition in the crypto space. In this article, we explain top ten (10) altcoins that gain popularity over time, along with bitcoin as the only type of crypto which is so popular and stronger.

These are the biggest cryptocurrencies based on their overall market capitalization, also known as market cap, which is the total dollar worth of all the coins in circulation.

This information comes from CoinMarketCap.com. As of March 2024,

10 cryptocurrency types

1. Bitcoin (BTC)

• Price: $63,861
• Market cap: $1.25 trillion

When most people discuss digital currency, they still usually bring up Bitcoin. The currency’s mystery founder, who is thought to be Satoshi Nakamoto, unveiled it in 2009, and since then, it has experienced many ups and downs. Nevertheless, the cryptocurrency did not become well known until 2017.

Investors now have an easy way to wager on Bitcoin thanks to the SEC’s approval of the trading of ETFs that invest directly in the cryptocurrency in 2024.

Read also: How Bitcoin works [Infographic]

2. Ethereum (ETH)

• Price: $3,334
• Market cap: $400 billion

The second name in the cryptocurrency field that you’re probably familiar with is Ethereum, which is the name of the platform.

Ethereum is a decentralized blockchain platform that creates a peer-to-peer network for the safe execution and validation of smart contract application code. Without the need for a reliable central authority, participants can interact with one another via smart contracts.

Ethereum’s smart contract feature contributes to its popularity, but the system lets you utilize the currency, ether, for a variety of purposes.

3. Tether (USDT)

• Price: $1.00
• Market cap: $104 billion

Tether price is $1 per coin. This is because it is a so-called stable coin. Stablecoins are tied to the value of a specific asset, in the case of Tether, the US dollar.

Tether often acts as a vehicle for traders to switch from one cryptocurrency to another. Instead of converting back to dollars, they use tethers. However, some people are concerned that Tether is not securely backed by dollars held in reserves and instead uses short-term forms of unsecured debt.

4. BNB (BNB)

• Price: $525.34
• Market cap: $79 billion

BNB is a cryptocurrency issued by Binance, one of the world’s largest cryptocurrency exchanges. Binance Coin was originally developed as a token for payment for discounted transactions, but now it can be used not only for payments but also for the purchase of various goods and services.

BNB is the cryptocurrency that powers the BNB Chain ecosystem. One of the world’s most popular utility tokens, BNB can not only be traded like other cryptocurrencies, but can also be used in a variety of applications and use cases.

Read also: 5 Most wealthy Crypto Billionaires

5. Solana (SOL)

• Price: $172.19
• Market cap: $76 billion

Solana is a more recent cryptocurrency that was introduced in March 2020. It boasts about how quickly transactions can be completed as well as the general stability of its “web-scale” network. There is a cap of 480 million coins that can be issued of the SOL currency.

6. XRP (XRP)

• Price: $0.5939
• Market cap: $33 billion

XRP, originally known as Ripple, was founded in 2012 and provides a means of making payments in a variety of real-world currencies. For cross-border transactions, ripple can be helpful as it facilitates payments through a channel that lacks trust.

The native asset of the XRP ledger, a blockchain that was created in 2011 by developers David Schwartz, Jed McCaleb, and Arthur Britto, is called XRP. After the protocol was formally introduced in 2012, the team went on to build OpenCoin, a new business headed by Chris Larsen, who became CEO.

Read also: 5 Companies that have significant bitcoin investments

7. USD Coin (USDC)

• Price: $1.00
• Market cap: $31 billion

Being a stablecoin based on the dollar, USD Coin‘s value is expected to remain constant. According to the currency’s creators, it is backed by completely reserved assets, also known as assets with “equivalent fair value,” which are kept in accounts with banks that are subject to regulation in the United States.

8. Cardano (ADA)

• Price: $0.6056
• Market cap: $22 billion

Cardano is the cryptocurrency platform behind ada, the name of the currency. Created by the co-founder of Ethereum, Cardano also uses smart contracts, enabling identity management.

Read also: The most influential people in cryptocurrency

9. Avalanche (AVAX)

• Price: $53.11
• Market cap: $20 billion

Avalanche is a blockchain that was launched in 2020 and competes with Ethereum as one of the most popular blockchains for smart contracts. AVAX is the native currency of the Avalanche blockchain.

10. Dogecoin (DOGE)

• Price: $0.1339
• Market cap: $19 billion

Originally created as a joke after the run-up in Bitcoin, Dogecoin takes its name from an internet meme featuring a Shiba Inu dog. Unlike many digital currencies that limit the number of coins in existence, Dogecoin has unlimited issuance. It can be used for payments or sending money.

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10 cryptocurrency types in terms of popularity [Infographic]

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