What Are The Top Ten Cryptocurrencies Right Now?
As of November 2020, the top 10 cryptocurrencies by market capitalization are making up a market cap of several trillion dollars, which is starting to grow significantly in terms of a percentage of the worlds money supply. In this blog post, we answer the question of What are the top ten Cryptocurrencies right now?
1. Bitcoin (BTC), Why Bitcoin Is The Most Powerful Coin Of Them All
Bitcoin has the largest market capitalization of all Cryptocurrencies currently on the market. The oldest, the biggest and the most popular cryptocurrency, Bitcoin, was created in 2009. While there are other cryptocurrencies that have been around for longer, Bitcoin is the most well-known and widely adopted.
2. Ethereum (ETH), A Smart Contract Platform That May Be The Future Of Business
Ethereum is a smart contract platform that enables developers to build decentralized applications (dApps). Ethereum also had some of the highest market appreciation of any Crypto Currency over the last 3 years.
ETH is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is used to build a decentralized internet, and has been hailed by some as the future of the internet itself. These are called dapps (decentralized apps) because they are built on a decentralized platform
3. Tether (USDT), AKA StableCoin
Tether (USDT) is a less widely known crypto currency given its massive scale as the third largest market cap cryptocurrency. It is however, the second most traded cryptocurrency after Bitcoin. It is a so-called “stablecoin” as its value is pegged to the US dollar. This makes it much less volatile than other crypto currencies, which can see wild swings in value.
USDT is issued on the Omni Layer.
4. XRP, Ripple
XRP, also known as Ripple, is widely known for its possible long term applications in the world of banking and finance.
XRP is the native token of Ripple and is used on the Ripple network to facilitate transactions.
The great thing about XRP is that it can be used to facilitate cross border payments and has been adopted by a number of major banks and financial institutions.
5. Litecoin (LTC)
Litecoin (LTC) used to be one of the most popular coins. It was created as a fork of Bitcoin with the intention of being faster and more lightweight.
Litecoin has seen some success and is still one of the top 10 coins by market cap.
6. Ethereum Classic (ETC)
Ethereum Classic is the original Ethereum blockchain. It came about as a result of the hard fork from Bitcoin back nearly 5 years ago.
The hard fork was a result of a hack on the DAO which resulted in the loss of millions of dollars worth of ETH.
The community was split on how to deal with the hack, with some opting for a hard fork (which resulted in Ethereum Classic) and others opting to simply roll back the blockchain to before the hack occurred.
7. Bitcoin Cash (BCH), What Are The Top Ten Cryptocurrencies Right Now In The US?
It was created in 2017 from a hard fork of Bitcoin. The primary difference between BCH and BTC is that Bitcoin Cash has a larger block size limit of 8MB.
This allows for more transactions to be processed per second which allegedly makes it better suited for use as a global currency.
What is Solana? Solana is a high-performance blockchain that is scalable, secure, and energy-efficient.
Solana’s architecture is designed to achieve consensus faster than any other existing blockchain while still maintaining the highest levels of security.
The Solana team claims that their protocol can process up to 50,000 transactions per second (TPS).
This is nearly unprecedented even in comparison to other Altcoins that are large in Market Cap Size, like Ripple or Ethereum.
9 Binance Coin
Binance Coin is the cryptocurrency of the Binance exchange.
The name “Binance” is a combination of the words “binary” and “finance”.
As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume.
Binance Coin is the exchanges own version of Bitcoin that they use when trading Satoshi on their own personal platform.
Cardano is a “ smart contract platform ” that is similar to Ethereum.
Cardano was created by one of the co-founders of Ethereum, Charles Hoskinson.
Cardano claims to be better than Ethereum because it is more scalable and because it uses a new proof of stake algorithm called Ouroboros.
Final Thoughts On What Are The Top Ten Cryptocurrencies Right Now?
I’ve got to say that I am really enjoying writing about the Crypto Currency markets, and that I am definitely going to keep scaling up the content on this subject. Stablecoin, coins pegged to Hedge Inflation that are linked to the value of the US dollar that are much more stable, Bitcoin volatility, the software benefits over the long term of Ripple, and much more. There is a reason that Kevin O’Leary is putting a massive allocation percentage towards Cryptocurrency, it is a growing market and it is just getting started, in ten years it could be a truly massive growth stock! For more details and information on all things Bitcoin and Finance, read on or subscribe to our blog for additional details and information.
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