Whenever anyone talks about cryptocurrency, the name that clicks in mind is Bitcoin. But when it comes to digital currency, there are a lot more options other than Bitcoin. In fact, the cryptos that are not Bitcoins are usually considered to be “also-ran” and “altcoins” alternatively.
Bitcoin was the first to hit the market in cryptocurrencies in the year 2009. Here in the next line, you will find the largest cryptocurrencies with their total dollar value in the market cap.
Largest cryptocurrencies by market cap
1. Bitcoin (BTC)
Price Value: $39,198
Market cap: $744 billion
Being an icebreaker, Bitcoin is always the coin people prefer in general when it comes to digital money. The man Satoshi Nakamoto invented the currency in 2009. From the time of birth, it is experienced as a roller-coaster ride.
2. Ethereum (ETH)
Price Value: $2,599
Market cap: $312 billion
Ethereum is the second most recognized name in the crypto market. This system permits people to use the currency named ether for various functions. What made it more popular among all is the smart contract aspect of Ethereum.
3. Tether (USDT)
Price Value: $1.00
Market cap: $80 billion
Tether is also known as a stable coin; the reason behind the same is that it is anchored at $1 per coin. In the circumstances when a trader migrates from one cryptocurrency to another, in the case of Tether acts as a medium very often. Apart from moving back to dollars, they prefer to choose tether.
It would be false to say that tether isn’t safe to be backed by dollars held in reserve, but instead, it utilizes a short-term form of unsecured debt.
4. Binance Coin (BNB)
Price Value: $369.63
Market cap: $61 billion
Binance issued Binance coin as a cryptocurrency. This coin was originally created to work as a token to pay discounted trades. Binance coins can be utilized for payments and purchasing various kinds of goods and services.