Bitcoin dominates cryptocurrency news, but there are thousands of alternative options. Alternatives to Bitcoin, or "altcoins," are sometimes termed "also rans." Many cryptocurrencies have gained popular, even if Bitcoin was the first. These are the largest cryptocurrencies by market cap, or dollar worth of their currency. (March 20, 2024
Top cryptocurrencies by market cap: 1. Bitcoin (BTC) Price: $63,861 $1.25 trillion market cap Bitcoin, the pioneer of cryptocurrency, is still the most commonly mentioned digital currency. The currency has been on a roller-coaster since its 2009 launch by Satoshi Nakamoto, a mysterious creator. However, cryptocurrency became popular in 2017. The SEC allowed Bitcoin ETFs to trade in 2024, making Bitcoin betting easy.
2. Ethereum (ETH) Price: $3,334 Market cap: $400 billion Ethereum is the second most well-known cryptocurrency platform. Ethereum's smart contract makes it popular, but you may utilize ether (the currency) for many functions.
3. Tether (USDT) Price: $1.00 Market cap: $104 billion Tether coins cost $1. Because it's stablecoin. Tether's stablecoin is tethered to the U.S. Dollar. Traders often use Tether to switch cryptocurrencies. They utilize Tether instead of dollars. Tether employs short-term unsecured debt instead of dollars in reserve, which worries some.
4. BNB (BNB) Price: $525.34 Market cap: $79 billion Binance, one of the leading crypto exchanges, issues BNB. Binance Coin, originally developed to pay for discounted transactions, may now be used to pay for goods and services.
5. Solana (SOL) Price: $172.19 Market cap: $76 billion Solana, a new cryptocurrency launched in March 2020, promises its fast transactions and robust “web-scale” platform. SOL currency output is limited to 480 million coins.
6. XRP (XRP) Price: $0.5939 $33 billion market cap Founded in 2012 as Ripple, XRP lets you pay in several real-world currencies. Ripple facilitates cross-border payments without trust.
7. USD Coin (USDC) Price: $1.00 $31 billion market cap USD Coin, like Tether, is a dollar-pegged stablecoin. The currency's founders claim it's backed by completely reserved or “equivalent fair value” assets held in regulated U.S. institutions.
8. Cardano (ADA) Price: $0.6056 $22 billion market cap The cryptocurrency ada is powered on Cardano. Cardano, founded by Ethereum's co-founder, leverages smart contracts for identity management.
9. Avalanche (AVAX) Price: $53.11 $20 billion market cap Avalanche, launched in 2020, competes with Ethereum as a smart contract blockchain. The native currency of Avalanche blockchain is AVAX.
10. Dogecoin (DOGE): $0.1339 Market cap: $19 billion Dogecoin was founded as a joke after Bitcoin's run-up. Its name comes from a Shiba Inu meme. Many digital currencies limit coin issuance, whereas Dogecoin does not. It allows payments and money transfers.
11. Shiba Inu (SHIB) Price: $0.00002556 $15 billion market cap Shiba Inu, an Ethereum-based altcoin with a Shiba Inu dog mascot, was established anonymously in August 2020. Shiba Inu is a popular Dogecoin alternative. The price peaked in fall 2021 following a spectacular surge, then plummeted over 90% before soaring again in early 2024.
12. Toncoin (TON) Price: $4.10 Market cap: $14 billion Telegram, an encrypted messaging app, created Toncoin in 2018. Telegram left the project to the TON Foundation. Telegram's 2023 announcement of a TON-based wallet boosted Toncoin's price.
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