There are thousands of different digital currencies circling around the crypto-verse, some of which we know very well, and some of which are climbing the crypto-rank ladder to top positions.
We have looked into the 8 biggest cryptocurrencies in the market right now for you to consider investing in, based on their current market caps, price per coin, and circulating supply.
8. USD Coin
USD Coin, abbreviated as USDC, entered the market in 2018. It is a digital dollar stablecoin, backed by the U.S Dollar, and works on a 1 USD Coin to a 1 U.S Dollar ratio. As of 25 August there are over 26 billion USD Coins in the hands of the public. One USD Coin is worth $1 and its main differentiation against the U.S Dollar is its cheaper, and quicker than making traditional fiat payments.
Market Cap: $26,998,093,472
Dogecoin, or DOGE, was initially released in 2013 as a parody cryptocurrency based on the popular ‘doge’ internet meme. It grew to become one of the most recognized cryptocurrencies in the world with over 131 billion Dogecoins in circulation at the moment. Just in May of this year it was the 4th biggest crypto and has now been bumped down the ladder. One Dogecoin is currently worth $0.291.
Market Cap: $38,121,303,494
The XRP cryptocurrency was founded by Ripple, and exists only in its own network. It is powered by algorithms and fixed rules, making it a stable and reliable crypto. The Ripple coin was first introduced in 2004, and as a result of the Ripple transaction protocol of real time gross settlements, XRP was born. One XRP coin is worth $1.15 and there are currently over 46 billion XRP coins circulating in the crypto sphere.
Market Cap: $53,580,336,306
Tether, also referred to as USDT, is another stablecoin working in reference to fiat currencies. It operates on the same blockchain as Bitcoin and is pegged by U.S Dollars, Euros, and Yens. Running off the bases of the backing of these fiat currencies, Tether is a more consistent, less volatile stablecoin, and a preferred investors choice. One USDT is worth $1 or equivalent in its other denominations and there are over 65 billion in circulation.
Market Cap: $65,483,346,370
4. Binance Coin
Binance Coin (BNB), is a crypto token created by the well-known crypto exchange platform, Binance. They are issued on the Ethereum blockchain and this token allows users to get discounts on the Binance platform. Binance has set its sights on becoming a decentralized exchange with many benefits in the pipeline for Binance Coin holders. One BNB token is worth $486.42 and there are currently more than 168 billion tokens circulating in the market.
Market Cap: $81,785,000,491
Cardano, referred to as ADA, became one of the more recent cryptos to watch. It’s proof-of-stake validation system authenticates transactions without the expensive proof-of-work systems used by other cryptos. Just this year, Coinbase Pro listed Cardano as a tradable currency, although it’s been around since 2017, proving its increasing value. One ADA coin is worth $2.74, and the circulating supply is over 32 billion.
Market Cap: $87,990,353,447
Ethereum or ETH, is one of the dominating open source, public blockchain platforms in the world at the moment. Around since 2014, Ethereum has been offering users exceptional features like smart contracts for non-fungible tokens. Ethereum also provides its own cryptocurrency called Ether, which is transferable between accounts. One Ethereum is worth $3,177.98, and there are over 117 billion ETH holders.
Market Cap: $372,608,033,057
Bitcoin or BTC taking rank as the biggest cryptocurrency at the moment is no surprise for crypto fans. It’s market cap far exceeds that of its counterparts on this list and one Bitcoin is worth a massive $48,058.91. Bitcoin is the most well-known, most talked about, and most widely adopted cryptocurrency by businesses, investors, and individuals. Owing to its immense price per coin, there are fewer Bitcoins in circulation than other cryptocurrencies, totalling just under 19 billion. But, if you are a Bitcoin holder, then we suggest for the time being you HODL because this crypto frontrunner could continue to soar.
Market Cap: $903,353,125,451