The ascent of cryptocurrencies has created a dizzying array of crypto offerings. With over 22,000 cryptocurrencies to choose from, how do you know which one to go with? Don’t worry, the answers are waiting for you below.
In this guide, we’ll provide you with insightful information on the top ten cryptocurrencies. We present our list in reverse order and use market capitalization as the basis for selection.
Armed with this knowledge you will be able to make informed decisions about where to begin your crypto adventure.
Solana (SOL)
Launched in 2020, the SOL has achieved a gain of around 3,158% since its inception until April 2024.
What has helped Solana stand out from other cryptocurrencies is its unique combination of PoS (Proof of Stake) and proof of history. This means that Solana validates extremely quickly because it doesn’t require mining to do so.
The company focuses on promoting its crypto for DeFi (Decentralized Finance), dApps (Decentralized Apps), and smart contract uses.
SOLs current market cap is around $10 billion.
Polygon (MATIC)
Called MATIC after its original name Matic Network, Polygon was founded in 2017. MATIC runs on the Ethereum network with the purpose of drastically improving Ethereum’s transaction speeds.
Thanks to MATIC running on Ethereum, it supports over 2,000 dApps. With a current market cap of just under $11 billion, MATIC has shown an approximate 44,559% gain since launching.
Dogecoin (DOGE)
With its unofficial tagline advocating doing only good every day, Dogecoin has established itself in the crypto market. DOGE currently has a market cap of around $13 billion.
Light-hearted humor and memes have been part of DOGE’s success and their ability to make investors smile will undoubtedly pave the way for a successful future.
Doge also led to the establishment of the meme category of crypto. Because their popularity is the determining factor of the value, Meme coins are very volatile.
Reputedly started in 2013 as a joke, the 46,640% increase in value from 2017 to date is certainly no laughing matter. Unless you bought DOGE in 2017 and are now laughing with joy.
Cardano (ADA)
Cardano was one of the first cryptos to make use of PoS. ADA was the first to use peer-reviewed research in its design.
Launched in 2017, Cardano represents a market cap of $15.5 billion and has an approximate gain of 2,124% to date.
XRP
Launched in 2012 by three developers that went on to found Ripple. Despite the ongoing SEC lawsuit against them, Ripple is still a major player in the crypto market displaying a market cap of a little under $27 billion.
XRP focuses on cross-border payments and makes use of a consensus protocol to validate transactions. Unlike many other cryptocurrencies, XRP was designed to function within the existing financial market.
From the beginning of 2017, XRP has achieved a gain of 8,576%.
U.S. Dollar Coin (USDC)
Launched by Circle in 2018. USDC is another crypto that Ethereum backs. This crypto is known as a stablecoin. In this case, pegged to the U.S. dollar. The USDC aims for a 1:1 exchange with the dollar.
Stablecoins that are pegged to fiat money aren’t meant to have independent gains. But in March, USDC lost its peg as a consequence of the Silicon Valley Bank collapse. It was quick to recover and regained most of the lost ground within three days. The estimated market cap for USDC is about $31 billion.
If you’re wondering how to buy USDC, a widely used stablecoin, there are several platforms and exchanges that offer a straightforward process for acquiring it.
Binance Coin (BNB)
The Binance exchange platform was originally the only place for BNB use. Binance Coin has since expanded into numerous other applications. Founded in China, Binance moved to Japan as a result of China’s 2017 ban on crypto trading.
While Binance may be involved in unsubstantiated controversy, it is holding fast as one of the largest crypto exchanges in the world. BNBs value gain of around 244,611% since 2017 supports its place along with its market cap of well over $53 billion.
Tether (USTD)
Now entering the top 3 best PlayUp betting coins, this pack begins with Tether. Tether is another stablecoin offering and the largest of its kind with an estimated market cap of just over $81 billion.
Tether is making a name for itself since it expanded beyond its base on Bitcoin. It now supports Ethereum, Solana, and several others. USTD has become a chosen favorite of investors wanting to enter the crypto market while moderating the very high volatility of non-stablecoins.
Ethereum (ETH)
A leading favorite with program developers, Ethereum focuses on smart contracts and dApps. To provide a better product, ETH transitioned to PoS validation last year. Ethereum also supports a multitude of layer 2 options that extend its scalability while retaining its security guarantees. It’s also gained recognition for its consistent push for the inclusion of those that have difficulty obtaining financial services.
Ethereum ranks as the second-largest cryptocurrency as demonstrated by its $252 billion market cap and substantial gains from 2016 to 2024 of 19,093%.
Bitcoin (BTC)
The original crypto. Bitcoin has become the household name of cryptocurrencies. Created in 2009, BTC uses PoW (Proof of Work) for its validation. PoW requires more energy to validate but is considered by many to be more secure.
Bitcoin is also the only cryptocurrency that is currently recognized as a commodity in the U.S. because it isn’t owned or controlled by its producer.
Bitcoin currently shows gains from 2016 to 2024 of around 5,968%. Bitcoin’s popularity and dominance are amply demonstrated by its estimated $587 billion market cap. This puts them significantly ahead of any other cryptocurrency.
Which One
The number of available cryptocurrencies can be seen as very useful to knowledgeable investors. And the extreme volatility of this asset class can be leveraged by experienced investors. Providing that you do your research and stay informed, crypto offers the potential for exceptional gains. Make sure that your risk tolerance is high enough. And always remember to only speculate with money that you can afford to lose.
