Cryptocurrency market has been ravishing with various projects. Today there are thousands of projects unrestricted in the market with different utilities. Unsurprisingly, these projects also comprise many scams or have no true potential. It is also noteworthy that the market recognizes only a few among thousands of cryptos. But projects like Bitcoin, Ethereum, Cardano, and a few more frankly have a lot of potential.
Digital assets that replenish the market shortcomings have numerous utilities. Moreover, these projects convey the solution with innovative ideas while grasping most investors’ attention in the cryptosphere.
The global crypto market capitalization is standing at $1.87 trillion at press time. Below, we will retain about the Ten Best Cryptocurrencies among the top 25 virtual assets in terms of market capitalization, which is worth a glimpse.
Bitcoin (BTC) – The firstborn cryptocurrency
Satoshi Nakamoto oriented the first cryptocurrency project’s whitepaper in 2008 with a revolutionary notion. Bitcoin is the first coded currency that was introduced to the world in 2009. The motto behind the project was to give the people control of their finance by creating a decentralized crypto asset. Notably, this became doable because of the millenial blockchain technology that today powers the entire ecosystem.
Still, without the creator, the most prominent digital coin accumulated a lot of traction. Since its inception, within a few years, the crypto asset hit the $100 mark in 2013. Since then, it has never looked back and persisted in having substantial value. Today we can already witness where Bitcoin has arrived. Meanwhile, early investors can never forget what the coin has delivered to them, and often they refer to the coin as Bitcoin Maxis in popular media.
Fast forward to press time, BTC is exchanging hands at $39,215.98 with an incredible $746 billion market cap. Following the notable gains that the coin offered, many institutional investors and retailers in the market are seeing the coin as a holy grail. Moreover, these coins are also held as a reserve in the treasury of El Salvador.
Ethereum (ETH) – Cryptocurrency with smart contracts functionality
Launched in 2015 by a Russian prodigy, Ethereum is one of the most flourishing projects in the ecosystem. Although since its inception, the project had to face a lot of encumbrances amid the Genesis DAO hack. Notably, this incident gave the world two different projects, Ethereum Classic and Ethereum.
However, today the project created by Vitalik Buterin is the home of multiple decentralized applications (dApps) and Smart Contracts. Many also deem that Ether is the pioneer of smart contracts, which is the most unassailable and indomitable code that self executes itself upon meeting certain criteria. According to data from DefiLlama, With more than 1000 decentralized finance (DeFi) projects, Ether blockchain is the largest DeFi ecosystem with a whopping $114.58 billion Total Value Locked (TVL).
Binance Coin (BNB) – Spanning an entire cryptocurrency ecosystem
Binance is one of the world’s leading cryptocurrency exchange platforms that deliver an array of services to global users. BNB is an exchange-based token, but the coin has multiple substantial utilities.
BNB coin hodlers can firstly relish a reduced trading fee. On the other hand, users can get VIP tiers access if they meet certain measures, like a specific trading volume in BNB every month.
Notably, the transaction fees are reduced, but the traders can also get some exclusive perks here. Besides, the token can also be used to pay gas fees for any Binance Chain or the Binance Smart Chain (BSC) transactions, where most of the upcoming projects are being deployed because of its humble fees and fast transaction pace. According to data from DefiLlama, at press time, the BSC ecosystem has a total value locked of more than $12.75 billion.
Solana (SOL) – The Ethereum Killer cryptocurrency
Solana is one of the projects that have seen significant growth since its establishment. Often the industry considers it the “Ethereum killer” because of the potential it brings while solving some scalability concerns. Where transactions on the Ether blockchain are really pricey, and the network sometimes faces congestion because of high demand. Solana is solving all these issues.
On Solana, users can witness faster transactions for cheaper rates. We compare the blockchain with other networks, like Bitcoin, which processes five transactions per second, and Ether, only 15 transactions per second. Solana processes 50,000 transactions per second.
At press time, the cryptocurrency is exchanging hands at the price level of $99.17, with a total market cap of $33 billion.
XRP – Enhancing our mainstream banks with cryptocurrency mechanism
XRP is the native cryptocurrency of Ripple, one of the leading FinTech firms across the globe. Although XRP has no blockchain, it solves myriad real-world problems like the shortcomings of wire transfers, slow transactions, and high transaction fees.
Besides, international transactions also have costly exchange rates, which the cryptocurrency is unraveling. Unlike other crypto assets, XRP’s mining consensus protocol has a striking node list consensus protocol, which is a bunch of miners selected by the FinTech firm whom they trust.
The total supply of the cryptocurrency is 100 billion. Currently, the token is trading at the price level of $0.6486, with a total market cap of above $31 billion.
Terra (LUNA) – A suite of a stable cryptocurrency
Terra ecosystem consists of many stable projects from USD to Japanese yen. The main emphasis of the cryptocurrency project is to stabilize its suite of stable crypto tokens. Currently, the suite consists of USD, EURO, GBP, YUAN, WON, and YEN. Besides, the DeFi ecosystem on the blockchain is also robust, as Terra is the second-largest DeFi ecosystem with a $29.49 billion total value locked.
At press time, LUNA is trading at $89.39 with a market cap of $31 billion.
Cardano (ADA) – An enhancing peer-reviewed project
Cardano has long maintained its position in the list of top-10 cryptocurrencies in terms of market capitalization. Founded by Charles Hokinson in 2017, Cardano has one of the vital communities in the digital ecosystem. Hoskinson visions that the project can bring visionaries, change-makers, and innovators together on its platform.
Polkadot (DOT) – A sharded multi-chain protocol
Polkadot is a sharded multi-chain protocol that connects and secures a network of specialized blockchains. According to experts:
The project provides a foundation to support a decentralized ecosystem that the users control. Furthermore, it helps simplify the creation of new applications, entities, institutions, and services.
Currently, DOT is trading at $17.31 with a total market capitalization of $19 billion.
Polygon (MATIC) – Layer-2 scaling solution on Ethereum
Polygon has been stepping upward at a great pace since its establishment. It is a Layer-2 scaling solution on the Ether blockchain. The network allows its users to process transactions for a very minimal fee and within a few seconds. Amid the project’s inception, it has witnessed many strategic partnerships in the digital ecosystem due to its highly scalable network.
Polygon (MATIC) is now trading at the price level of $1.27 with a total market cap of more than $12.68 billion.
Tron (TRX) – Encouraging content creators with cryptocurrency rewards
Launched in 2017, Tron is a blockchain and cryptocurrency project developed by the Tron Foundation. Although the blockchain network was first deployed on the Ether network, it later moved to its own network. The cryptocurrency project aims to offer full ownership rights to digital content makers. Notably, the main goal is to aid content creators with high rewards for their work, who are currently getting a small part of the income.
At press time, the cryptocurrency is trading at the price level of $0.06389, with a total market cap of more than $6.5 billion.