The world of crypto has a lot to offer, with several cryptocurrencies to choose from. With the increasing value of obscure cryptocurrencies right now, many people are nervous they will lose out. To ensure you make the most out of your investment, it is essential to consider the various cryptocurrencies on the market. Here is a list of the top ten cryptocurrencies marked by their market value (as of October 2021) to get you started.
Bitcoin (BTC)
The big daddy of cryptocurrencies was invented in 2008 by an unknown person named Satoshi Nakamoto. Bitcoin started its ledger in 2009, and the innovation that followed changed the face of money forever. However, 12 years later, the first-mover advantage of Bitcoin has accrued to drive its market value over $1 trillion. Bitcoin and the blockchain concept that preceded it are somewhat underestimated.
● Current market cap: $1.074 trillion
Ethereum (ETH)
Ethereum is the first decentralised software platform on our list of Bitcoin alternatives. It allows developers to build and operate smart contracts without worrying about third-party intervention, fraud, or control. Ethereum is gaining traction in the emerging and rapidly expanding sector of decentralised finance (DeFi). The digital currency has been steadily eating away at Bitcoin's total crypto market cap. Although Bitcoin has been the leading cryptocurrency since its inception, Ethereum emerged as a significant player in 2015.
● Current market cap: $415 billion
Binance coin (BNB)
One of the world's most popular crypto exchanges, Binance, launched its native coin BNB in 2017. Binance Coin started as an Ethereum-based ERC-20 coin. It launched its main net, the binance smart chain, on its Proof-of-Stake (PoS) consensus used by the network.
● Current market cap: $77 billion
Cardano (ADA)
This newcomer in the crypto space is an open-source offering a decentralised platform with PoS, which is essential to investors compared to Bitcoin and Ethereum. The first-ever ADA (Cardano blockchain's native currency) emerged in September 2017. Cardano's appeal comes in many forms. Since Charles Hoskinson, one of Ethereum's co-founders, founded this cryptocurrency immediately endows its legitimacy.
● Current market cap: $70 billion
Ripple (XRP)
XRP is a digital technology and payment processing company founded by the co-founders of Ripple. It's a well-known digital asset designed for electronic payments. XRP is renowned for providing financial institutions of all types with the fastest and most dependable way to get cash on demand. Transactions may be completed in 3-5 seconds using this open-source and decentralised blockchain technology.
● Current market cap: $52 billion
Solana (SOL)
Solana is known for creating user-friendly cryptocurrency applications using high-performance blockchain-supporting builders all around the world. Like Ethereum, it has established itself as a leader in DeFi, a field in which users may construct decentralised applications (DApps) that bypass traditional financial gatekeepers such as exchanges, brokers, clearinghouses, and banks.
● Current market cap: $43 billion
Polkadot
Polkadot is a unique PoS cryptocurrency that aims at enabling interoperability among various blockchains. Its protocol is to connect "permissioned" and "permissionless" blockchains and oracles, allowing systems to collaborate under one roof. Gavin Wood, another of the Ethereum project's principal founders who had conflicting perspectives on the project's future, launched Polkadot.
● Current market cap: $41 billion
Dogecoin (DOGE)
What began as a meme with an adorable Shiba Inu puppy as its mascot and Elon Musk's support has evolved into a cryptocurrency. It has become a precious asset, and Dogecoin investors have seen spectacular gains over the previous few years. Yes, Dogecoin's price is nowhere like that of Bitcoin, but its market cap is enormous, implying that it will acquire value soon.
● Current market cap: $30 billion
Litecoin (LTC)
Debuted in 2011 and dubbed as the "silver to Bitcoin's gold," Litecoin was one of the first cryptocurrencies to follow in Bitcoin's footsteps. These coins were created and designed by Charlie Lee, an MIT graduate and former Google engineer. Litecoin, like other decentralised cryptocurrencies, is not issued by a government, which has traditionally been the only organisation society has trusted to print money. Unlike other currencies, Litecoin's supply is limited. The total number of Litecoins in circulation will never exceed 84 million.
● Current market cap: $12 billion
Chainlink (LINK)
Chainlink is a decentralised oracle network that feeds real-world data to blockchain smart contracts. LINK tokens are digital asset tokens that are used to pay for network services. LINK is based on Ethereum and adheres to the ERC-20 token standard. It can be purchased and traded in exchange for fiat money or other digital currencies.
● Current market cap: $11 billion