Bitcoin is the most talked-about cryptocurrency, but there are many other options. Cryptos that don’t include Bitcoin are often considered “also-ran” or alternative to Bitcoin.
Although Bitcoin was the first major cryptocurrency to be introduced on the market in 2009, many other currencies have gained popularity even though they are not as popular as Bitcoin.
These are the top cryptocurrencies based on the total value of all coins, also known as market capitalization or market cap. Data is taken from CoinMarketCap.com as of March 10, 2022.
Largest cryptocurrency market capital
1. Bitcoin (BTC).
- Price: $39,198
- Market Cap: $744 Billion
Bitcoin was the coin that ushered in the cryptocurrency era. The currency’s mysterious creator, Satoshi Nakamoto, introduced it in 2009 and has been on an incredible roller-coaster ride ever since. The cryptocurrency was only popularized in 2017 however.
2. Ethereum (ETH).
- Price: $2,599
- Market Cap: $312 Billion
Ethereum is the name of the cryptocurrency platform. It’s the second most common name in crypto. You can use Ethereum (the currency) for a variety of purposes. However, the smart contracts aspect of Ethereum makes it a very popular currency.
3. Tether (USDT).
- Price: $1.00
- Market Cap: $80 Billion
Tether’s price is fixed at $1 per coin. It is what’s known as a stablecoin. Stablecoins can be tied to a specific asset. In Tether’s instance, that would be the U.S. dollar. When traders trade from one cryptocurrency to the next, Tether is often used as a means of transport. Tether is used by traders to move from one cryptocurrency to another. Some people worry that Tether is not secured by dollars in reserve, but rather uses a short-term form of unsecured debt.
4. Binance Coin (BNB).
- Price: $369.63
- Market Cap: $61 Billion
Binance is one of the most prominent crypto exchanges worldwide, and Binance Coin is their cryptocurrency. Binance Coin was originally created to pay for discounted trades. However, it can be used for both payments and the purchase of various goods and services.
5. USD Coin (USDC).
- Price: $1.00
- Market Cap: $52 Billion
USD Coin, like Tether, is a stablecoin that is tied to the dollar. This means its value will not fluctuate. According to the currency’s creators, it is backed by fully reserved assets or assets with an “equivalent fair worth”, and these assets are kept in accounts at regulated U.S. banks.
6. Terra (LUNA)
- Price: $99.30
- Market Cap: $36 Billion
Terra, which uses its Luna currency, is a platform that backstops stablecoins that are based on real currencies like the dollar and euro. Terra supports smart contracts and helps to stabilize the price stablecoins .
7. XRP (XRP).
- Price: $0.7356
- Market Cap: 35 Billion
XRP, formerly known as Ripple, was created in 2012. It allows you to pay in many real-world currencies. Ripple is a trustless payment system that facilitates cross-border transactions.
8. Cardano (ADA)
- Price: $0.81
- Market Cap: $27 Billion
Cardano, which is the cryptocurrency platform that powers ADA (the currency’s name), is the cryptocurrency platform. Cardano, which was co-founded Ethereum, also uses smart contracts to enable identity management.
9. Solana (SOL)
- Price: $82.30
- Market Cap: $26 Billion
Solana was launched in March 2020. It is a younger cryptocurrency that boasts its speed to complete transactions and overall stability of its “webscale” platform. SOL is the maximum amount of currency that can be issued.
10. Avalanche (AVAX)
- Price: $72.81
- Market Cap: $19 Billion
Avalanche, a low-cost and fast smart contract-based blockchain platform that focuses on decentralized apps and the facilitation of creating custom blockchains, is affordable. Users can use the native AVAX token to process transactions.
11. Binance USD (BUSD).
- Price: $1.00
- Market Cap: $18 Billion
Binance USD, a dollar-backed stablecoin, is created by top crypto exchange Binance and Paxos. Binance USD was launched by the New York Department of Financial Services in 2019. BUSD is based on the Ethereum blockchain.
12. Polkadot (DOT)
- Price: $17.16
- Market Cap: $17 Billion
Polkadot, a digital currency launched in May 2020, connects blockchain technology from various cryptocurrencies. One of Polkadot’s inventors is a co-founder of Ethereum. Industry watchers suspect that Polkadot wants to overthrow Ethereum.
