Starting off in the world of cryptocurrencies is challenging since there are thousands of different cryptocurrencies, from Bitcoin and Ethereum to Binance Coin and Tether. These are the top 5 cryptocurrencies based on market capitalization, or the sum of the value of all the coins that are presently in circulation, to help you gain your bearings. This articles has listed all top 5 cryptocurrencies by market cap below:
Top 5 Cryptocurrencies by Market Cap
BTC, like the majority of other cryptocurrencies, functions on a blockchain, which is a ledger that records transactions. It is shared over a network of thousands of computers. Bitcoin is safe and secure from fraudsters. It is because, the modifications to distributed ledgers gets confirmation by solving a cryptographic problem, a process known as proof of work. BTC ranks #1 at the moment, with a live market capitalization of $397,113,913,791.60. BTC has a maximum supply of 21,000,000 BTC coins, with a circulating supply of 19,192,387 BTC coins.
Ethereum, which is both a cryptocurrency and a blockchain platform, is a programming darling due to its potential applications. It includes “smart contracts” that execute automatically on specific conditions. Another important thing about the blockchain is the non-fungible tokens (NFTs). ETH ranks at #2 on the top 5 cryptocurrencies list. The current market capitalization of ETH is $193,867,356,121.77. There are now 122,373,863 ETH coins in circulation, with a total supply of 122,373,863 ETH coins available.
Tether is a stablecoin, a type of cryptocurrency that aims to keep the price of its tokens stable. It does so by linking it to the price of a conventional currency such as the US dollar. (Tether also offers tokens tied to the euro, the offshore Chinese yuan, and gold, all of which have a fraction of the market valuation of its USDT tokens.) Tether is currently moving at #3 in the top 5 cryptocurrencies list. The current market capitalization of USDT is $68,990,911,166.38. The total supply of USDT is 71,141,766,322 USDT coins, with 68,977,092,527 USDT coins in circulation.
Binance Coin (BNB)
Binance, one of the world’s largest cryptocurrency exchanges, accepts payments in the form of Binance Coin (BNB), a type of cryptocurrency. Binance Coin has grown since its introduction in 2017, and it now serves a purpose other than facilitating transactions on Binance’s exchange platform. The coin is used for trading, collecting payments, and even organizing travel reservations. Users can also sell or exchange it into other cryptocurrencies, such as Ethereum or Bitcoin. Binance Coin is currently at #4 in top 5 cryptocurrency list, with a live market capitalization of $48,270,791,957.70. Also, the circulating supply of BNB is 159,979,038 coins, with a maximum supply of 200,000,000 coins.
USD Coin (USDC)
USD Coin (USDC), like Tether, is a stablecoin that aims for a 1 USD to 1 USDC ratio and follows the US dollars. USDC is powered by Ethereum, and you may use USD Coin to conduct cross-border transactions. It is at #5 at the moment in top 5 cryptocurrencies list. Furthermore, it has a live market capitalization of $43,749,166,935.08. USDC has a total supply of 43,752,285,935 USDC coins, with a circulating supply of 43,752,285,935 USDC coins.