From Bitcoin to Ethereum, Dogecoin and Tether, there are thousands of different cryptocurrencies, which can be overwhelming when you're getting started in the world of crypto. To help you get your bearings, here are the top 10 cryptocurrencies based on their Market Capitalization: , which is the total value of all coins currently in circulation.
2. Ethereum (ETH)
- Market Cap:: Over $447 billion
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers due to its potential applications, such as so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs). Ethereum has also seen tremendous growth. From April 2016 to January 2022, its price rose from around $11 to over $3,700, an increase of over 33,500%.
3. Binance Coin (BNB)
- Market cap: Over $86 billion
Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest cryptocurrency exchanges in the world. Since its launch in 2017, Binance Coin has grown beyond simply facilitating trade on the Binance exchange. Now, it can be used for commerce, payment processing, or even travel booking. It can also be traded or exchanged for other forms of cryptocurrencies, such as Ethereum or Bitcoin. Its price in 2017 was only $0.10; on January 3, 2022, it had risen to around $520, a gain of around 520,000%.
4.Tether (USDT)
- Market cap: Over $78 billion
Unlike some other forms of cryptocurrencies, Tether is a stablecoin, meaning it's backed by fiat currencies like the US dollar and euro and hypothetically holds a value equal to one of these denominations. In theory, this means that Tether's value is supposed to be more consistent than that of other cryptocurrencies, and it's favored by investors who are wary of other coins' extreme volatility.