The top 10 biggest Cryptocurrencies
Before we get started on the 10 biggest biggest cryptos let’s go over what market cap means in cryptocurrency
Within the blockchain industry, the term market capitalization (or market cap) refers to a metric that measures the relative size of a cryptocurrency. It is calculated by multiplying the current market price of a particular coin or token with the total number of coins in circulation.
Now that we gotten that out the way let’s get into the 10 biggest cryptocurrencies by market cap.
- Bitcoin
Market cap $1.1T
Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto.[13] The currency began use in 2009[14] when its implementation was released as open-source software.[6]:ch. 1 Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.[7] Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
2. Ethereum
Market cap $464 B
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH) is the native cryptocurrency of the platform. It is the second-largest cryptocurrency by market capitalization, after Bitcoin.[1] Ethereum is the most actively used blockchain.[2][3]
Ethereum was proposed in 2013 by programmer Vitalik Buterin. Development was crowdfunded in 2014, and the network went live on 30 July 2015, with an initial supply of 72 million coins.[4][5][6][7][8] The platform allows developers to build and operate decentralized applications that users can interact with.[9][10] Decentralized finance (DeFi) applications provide a broad array of financial services without the need for typical financial intermediaries such as brokerages, exchanges, or banks, such as allowing cryptocurrency users to borrow against their holdings or lend them out for interest.[11][12] Ethereum also allows for the creation and exchange of NFTs, which are non-interchangeable tokens that can be connected to digital works of art or other real-world items and sold as unique digital property. Additionally, many other cryptocurrencies operate as ERC-20 tokens on top of the Ethereum blockchain and have utilized it for initial coin offerings.
3. Binance Coin
Market Cap $103 B
In 2017. As of April 2021, Binance was the largest cryptocurrency exchange in the world in terms of trading volume. Binance was founded by Changpeng Zhao
4. Dogecoin
Market cap $71 B
Dogecoin created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time.[4] Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the “Doge” meme as its logo and namesake.[5][6][7] It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of US$85,314,347,523 on May 5, 2021.[2][8]
5. Tether
Market cap $56 B
Tether is a cryptocurrency with tokens issued by Tether Limited.[1] It formerly claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies.[2][3] The Bitfinex exchange was the subject of a lawsuit by the New York Attorney General of using Tether’s funds to cover up $850 million in funds missing since mid-2018.[4][5] The investigation found that iFinex — the operator of Bitfinex and Tether — made false statements about the backing of the Tether and about the movement of hundreds of millions of dollars between the two companies to cover up the truth about massive losses by Bitfinex. According to the New York Attorney General, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie”.
6. Cardano
Market cap $56 B
Cardano is a public blockchain platform. It is open source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency Ada
7. XRP
Market Cap $55 B
Cardano is a public blockchain platform. It is open source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency Ada
8. Polkadot
Market Cap $39 B
Polkadot is a heterogeneous multi-chain interchange and translation architecture which enables customised side-chains to connect with public blockchains.
The protocol was created by the Ethereum co-founder Gavin Wood.[1]
9. Bitcoin Cash
Market Cap $27 B
Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin.[5][6] Bitcoin Cash is a spin-off or altcoin that was created in 2017.[7][8][5]
In November 2018, Bitcoin Cash split into two cryptocurrencies: Bitcoin Cash and Bitcoin SV.[9]
10. Litecoin
Market cap $27B
Litecoin (LTC or Ł) is a peer-to-peercryptocurrency and open-source software project released under the MIT/X11 license. Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011.[2] In technical details, Litecoin is nearly identical to Bitcoin.
All definitions have been sited from Wikipedia.com
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