The crypto market has attained significant growth in the past decade. From Bitcoin to Dogecoin and thousands of other cryptocurrencies, the crypto world has become huge. Definitely, the crypto market has received an overwhelming response from users across the world. If you are new to the crypto world and want to gain knowledge about the top 10 popular cryptocurrencies, you are at the right place. We will discover cryptocurrencies according to their market capitalization. You can also visit the official preview of Bitcoin Circuit and understand it.
Bitcoin is the first cryptocurrency that was created in 2009 by a mysterious programmer named Satoshi Nakamoto. Bitcoin (BTC) is the most popular and world’s largest cryptocurrency, with a market capitalization of more than $641 billion. While there are many cryptocurrencies but bitcoin was the first cryptocurrency that was built on blockchain technology. Blockchain is a ledger that records digital transactions distributed across a huge network of hundreds of computers. All the transactions that are added to distributed public ledger need to be verified by solving the mathematical puzzles, and the process is known as proof of work.
The price of bitcoin has been skyrocketing, and today it has been the name of every household. Bitcoin’s price has increased at a rapid rate. Bitcoin transactions are stored in a blockchain ledger, which keeps the details of users safe and secure from scammers and fraudsters.
Ethereum is the second-largest cryptocurrency; actually, it is not only a cryptocurrency but also a blockchain platform. Ethereum is the favourite cryptocurrency of developers because of the potential applications known as smart contracts that are best for companies and businesses. The market capitalization of Ethereum is around $307 billion. In the past five years, Ethereum’s price has increased from $11 to around $2500.
Tether is not like other cryptocurrencies as it is a stablecoin that is backed by traditional currencies. It is designed to maintain a value that is equal to fiat currencies hypothetically. It means that Tether value is made to stay consistent as compared to other cryptocurrencies.
Binance Coin (BNB)
Binance Coin is another popular cryptocurrency that is used for trading and paying charges on Binance. Binance is the largest crypto exchange that was launched back in 2017. Binance Coin has grown substantially in the past few years, and it has facilitated trades on the exchange platform of Binance. Today, Binance Coin can be used for payment process, trading, and booking travel or hotels. This crypto coin can also be exchanged and traded for other cryptocurrencies like Bitcoin or Ethereum.
Dogecoin has acquired a lot of prominence in the past few months. This cryptocurrency started in 2013 as a joke, and in 2022, it became one of the most prominent cryptocurrencies, all thanks to creating memes and an enthusiastic community. The market capitalization of Dogecoin is $44 billion.
The market capitalization of Cardano is around $51 billion. It is notable for its embrace of the proof of stake consensus method. This method accelerates the transaction time and reduces the usage of energy that doesn’t impact the environment. This digital currency is more like Ethereum as it enables the feature of decentralized applications and smart contracts.
XRP is a cryptocurrency that the same founders create as Ripple. Ripple is a payment processing and digital technology company. XRP is used to facilitate exchanges to a plethora of currency types, including cryptocurrencies and fiat currencies.
Cryptocurrencies are designed to use multiple blockchains, but Polkadot is the cryptocurrency that aims at integrating all the blockchains by creating a huge crypto network that connects all the blockchains to make them work to combine. The market capitalization of Polkadot is approximately $21 billion.
USD Coin is more like Tether as it is also a stablecoin that is backed by fiat currencies. Ethereum powers this digital currency, and users can use USD coins to make transactions globally.
Uniswap is a token that is based on Ethereum and was launched in 2020. This digital currency powers Uniswap, a decentralized crypto exchange that utilizes an automated liquidity model to trade cryptocurrencies. The feature of smart contracts powers Uniswap. The market capitalization of this digital currency is over $13 billion.