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It’s not just bitcoin — here are the top 10 biggest cryptocurrencies

It’s not just bitcoin — here are the top 10 biggest cryptocurrencies
Written by publisher team

This article was updated on December 1, 2021 to reflect new arrivals and pricing.

Cryptocurrencies have gone from an obscure piece of finance to center stage over the past year. Within a year, bitcoin exploded from trading at $29405 on January 1, 2021, hitting an all-time high of more than $68,990.90 in November and is now trading at around $57,000 as of December 1.

Their rapid rise has been accompanied by increased institutional interest, including from big names such as Citigroup, Goldman Sachs, BNY Mellon and JPMorgan.

There are hundreds of cryptocurrencies around the world, but the primary group of 20 coins makes up about 99% of the market by volume, according to the cryptocurrency website. CoinDesk.

As of November 30, inflows into digital asset investment products reached a new record high of $9.5 billion to date, according to James Butterville, investment strategist at CoinShares. Over the past month, bitcoin has seen the largest inflows thanks to the launch of multiple investment products in the stock market to track its price.

Altcoins also continued to be popular, with Polkadot and Solana accounting for 8.6% and 5.9% of total inflows respectively in the last week of November.

As cryptocurrencies continue their rapid rise in 2021, financial news He compiled a list of the 10 largest cryptocurrencies by market capitalization.

read Billionaires, Even BlackRock, Love Bitcoin Now – Here They Are Interfering with the Crypto Rise

1. Bitcoin

As of 10:53 AM GMT on December 1, bitcoin was priced at $57.028, according to CoinDesk. Launched in 2009, BTC, as its market benchmark is known, is the largest cryptocurrency by market capitalization at $1.08 trillion. It was created as a store of value and a means to facilitate decentralized transactions.

The cryptocurrency has been in circulation for the past three months and reached an all-time high of over $68,000 in the last month.

This was partly driven by a surge in institutional interest in bitcoin after the US Securities and Exchange Commission approved a bitcoin futures ETF, as well as the launch of several new bitcoin-related products across Europe.

read The New Bitcoin ETF Is More Dangerous Than You Think – Even By Crypto Standards

2. Ethereum

according to CoinDesk. The second largest cryptocurrency by total market capitalization of $559.7 billion, the value of Ether has jumped significantly since its market cap in March reached $211.2 billion.

It was first proposed in 2013 by developer Vitalik Buterin, went live in July 2015 and is based on blockchain technology.

In the last week of November, Ether saw inflows totaling $23 million, according to CoinShares, marking its fifth consecutive week of inflows.

3. Binance Coin

Binance Coin is an exchange token, developed by cryptocurrency exchange Binance to be used as a medium of exchange on its platform without the need to be issued or backed by a central authority.

Trading under the BNB index, is one of the most prominent examples of an exchange token, where unregulated assets can rise and fall in value and can be used to buy and sell goods or services on an exchange without a central intermediary.

Users can buy BNB to trade like traditional cryptocurrencies, or use it to facilitate access to the Binance ecosystem. It is cheaper to trade BNB for Bitcoin on Binance platforms, for example, than using fiat currencies.

On December 1, BNB was trading at $642.10 with a total market capitalization of $107.1 billion, according to data from CoinMarketCap.

4. Rope

Tether, originally called Realcoin, was launched in 2014 and is pegged to the US dollar – making it one of the first cryptocurrencies to do so.

They usually trade at $1 or around $1, as they are supposed to be directly related to the value of the dollar. The digital currency is the largest stablecoin by market capitalization at $73.7 billion, according to CoinMarketCap.

5. Solana

Solana is a new cryptocurrency, which was officially launched in March 2020. Its founder, Anatoly Yakovenko, designed it to support smart contracts and create decentralized applications, as a competitor to Ethereum.

The Solana core network, which trades under the SOL token, is said to be able to transact smart contracts faster and at cheaper rates than Ethereum. As of December 1, Solana was trading at about $224 with a total market value of $68.4 billion, according to CoinMarketCap.

6. Cardano

Cardano is a decentralized public blockchain and cryptocurrency project created by a team of academics and engineers. ADA, the digital currency operating on the non-profit platform, was trading at $1.15 with a market capitalization of $36.6 billion, as of 9:36 AM GMT on March 9.

read Meet Cardano, the upcoming cryptocurrency for the Bitcoin crown

7. XRP

XRP, a cryptocurrency popular with banks and other institutions, traded at $1 on December 1 and has a market capitalization of $47.4 billion. The digital currency was created in 2012 by blockchain company Ripple Labs, and runs on its own blockchain protocol called Ripple.

8. Dollar coin

The stablecoin, which hit the market in September 2018, is managed by a consortium called CENTER, launched by peer-to-peer cryptocurrency exchange Circle and Coinbase. Their goal, according to their website, is “to achieve cryptographic stability.” They are trading at $1 with a market cap of $38.7 billion as of December 1.

9. Polkadot

According to Crypto Exchange Kraken, Polkadot is a program that seeks to incentivize a global network of computers to run a blockchain that users can launch and operate. It was created by Ethereum co-founder Gavin Wood and developed by the Web3 Foundation.

As of December 1, Polkadot was trading at $37.43 with a market capitalization of $37 billion, according to CoinMarketCap.

10. Dogecoin

Dogecoin was founded in 2013 as memecoin purportedly to mock other alternative cryptocurrencies vying to challenge Bitcoin’s dominance. However, it is now seen as a legitimate investment by Redditors and cryptocurrency holders alike as a way to tell people small amounts online.

Its name refers to a meme about a dog that speaks a Shiba Inu with poor grammar, with phrases such as “wow too much,” “too anxious,” and “like a doge.”

read Dogecoin is on the rise: What is behind the meme’s rise? How far can you go?

As of December 1, Dogecoin is trading at $0.21 with a total market capitalization of $28.4 billion.

To contact the authors of this story through comments or news, email Bérengère Sim and Emily Nicolle.


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