The current rating of top 10 cryptocurrencies
1-bitcoin
Market cap – $789,996,841,797
Traditionally, the first place in the list is occupied by the very first and well-known cryptocurrency. For the first time, its decentralized digital network started working in 2009 and since then it has been considered the flagship, which the creators of altcoins one way or another are guided by .
The currency either falls or recovers after a downtrend. In any case, the demand for it never disappears. As a result, capitalization is growing.
2-Ethereum
Market cap – $370,707,482,984
The main difference from Bitcoin is the full use of smart contracts (BTC also has them, but the functionality is limited). In addition, for many developers, Ethereum is a convenient platform for creating decentralized applications.
The development uses a dynamic programming language that resembles JavaScript in many ways. And as a means against the abuse of resources, the concept of “gas” was introduced, with the help of which the possible number of operations is limited.
3-Tether
Market cap – $83,008,908,364
Cryptocurrency, the value of which is equated to the US dollar. Such currencies are called stablecoins and serve to digitalize national currencies. Thus, the sore point of the crypt is eliminated – high volatility, but at the same time all the key advantages of electronic money (security, anonymity, lack of borders) are preserved.
Many companies are already partially switching from the traditional dollar to Tether in order to take advantage of these benefits. This is due to the popularity of the currency.
4-BinanceCoins
Market cap – $70,628,608,931
Its functionality initially consisted in the ability to save on exchange commissions.
In the meantime, Binance Coin is a fairly promising investment tool that shows a steadily growing value. To fight inflation, some of the tokens are regularly redeemed and burned, reducing the amount of assets in circulation.
5-USD Coin
Market cap – $49,812,922,690
Another stablecoin, second only to Tether among stablecoins.
It is fully regulated, issued centrally and controlled by US regulatory authorities. This has both pluses and minuses. The disadvantages are obvious, and the advantages are that the degree of coin backing is controlled at the state level. Each USDC is guaranteed to be backed by the US dollar.
6-6XRP
Market cap – $35,893,891,235
Ripple is a platform that primarily performs the role of a cheap and fast payment system. With its help, you can exchange currencies, including making cross-border payments. This opportunity is of interest mainly to large companies – for example, the protocol was of interest to Santander and American Express.
Many also note an increased level of network security, compared even with bitcoin. Ripple transactions are fast, and power consumption is also significantly less.
7-Solana
Market cap – $35,445,847,724
Blockchain platform that can compete with Ethereum in terms of its functionality.
It also supports work with highly efficient smart contracts, allows you to host decentralized applications, NFT tokens, and much more. It features very fast and cheap transactions, due to which developers are increasingly choosing this platform, and the SOL token is growing in price.
8-Terra
Market cap – $33,041,484,563
The Terra project token is called LUNA, and it is used to mint algorithmic stablecoins. In particular, it is the dollar stablecoin UST. And since UST became one of the most popular stablecoins in 2022, second only to USDT and USDC, the demand for LUNA has grown significantly.
9-Cardano
Market cap – $30,224,435,518
Cardano is a blockchain platform developed on the basis of scientific research; There are many engineers and scientists in the team. The project even has its own philosophy. ADA is being actively developed in collaboration with the University of Edinburgh and Lancaster University.
The platform consists of two levels, one of which focuses on working with smart contracts, and the other focuses on tokens. Of course, this is not a unique development, but they are trying to improve the site as much as possible so that it works faster and more reliably.
10-Polkadot
Market capitalization – $21,136,202,010
This blockchain platform focuses on the idea of connecting additional blockchains to the main one, thereby increasing the possible scalability of the network.
Each blockchain may have its own rules, conditions and properties, however, the main security support functions are taken from the main network. The DOT token performs utility functions, including for connecting new chains.
This is how the top 10 cryptocurrencies rating looks like as of April 2022. All the coins in it are promising, proven, among them there are both very old and relatively new, but have already won the trust of users.