The top 10 cryptocurrencies are particularly impressive in this regard; they are currently showing a consistent price increase that is unparalleled by any other asset class. Ethereum is especially interesting among them as its course has increased by almost 150% since the beginning of the year. This remarkable growth makes it clear that investors and traders alike see great potential in various digital currencies these days.
The courses on the crypto market have been able to grow significantly again since the beginning of the year. But which cryptocurrency is currently the largest? A look at market capitalization helps.
Of all cryptocurrencies, Bitcoin also makes the largest share in the market capitalization of cryptocurrencies. Nevertheless, despite the last course increases, the market capitalization of the ten largest coins is still below the brand of one trillion dollars.
For comparison: At the beginning of 2022, the market capitalization of the top ten coins came to around $ 1.5 trillion.
Ethereum and Cardano also make it into the top ten of the largest cryptocurrencies. You can find out in the current ranking which cryptocurrencies are also among the largest coins this year.
These are the top 10 cryptocurrencies after market capitalization of 2023
10th place: Polygon (Matic)
Polygon is a Crypton network that is compatible with various blockchains. Experts are increasingly acting polygon as a real alternative to ether. Because the goal of the polygon is to enable faster and cheaper transactions. Polygon is a so-called Ethereum-Sidechain. Polygon, therefore, does not represent an independent blockchain but uses the technology behind Ethereum. Matic’s market capitalization is currently $ 10.8 billion – tenth in the ranking.
9th place: Dogecoin (Doge)
With a market capitalization of around $ 12.8 billion, Dogecoin made it to ninth place. The digital currency is based on the well-known “Doge-Meme”, which is why the image of a dog of the Shiba Inu breed can be seen on the logo of the currency.
Dogecoin was originally created as a fun counterpart to Bitcoin to offer a cryptocurrency outside of Bitcoin. Another difference from other cryptocurrencies is that Dogecoin uses the so-called script technology. Digital currency also has the property that transactions can be carried out faster.
However, the number of dogecoins is unlimited. In contrast to Bitcoin, which is limited to 21 million digital coins, there is no limit for mines at Dogecoin, which is why the value of a coin remains low.
8th place: Cardano (ada)
Cardano occupies eighth place in the current ranking. Among other things, the Ethereum founder Charles Hoskinson, who also developed Cardano’s blockchain as CEO of IOHK, was involved in the foundation.
The market capitalization of digital currency is currently around $ 13.5 billion. At the beginning of 2021, market capitalization was still $ 5.45 billion, and on September 3, Cardano’s market capitalization reached its maximum at more than $ 95 billion.
The aim of cryptocurrency is to research and solve problems with blockchain currencies. An update was already carried out in 2020, which was supposed to make the blockchain “50 to 100 times more decentralized” than was already.
7th place: Binance USD (Busd)
In seventh place in the ranking of the largest cryptocurrencies, the stablecoin of the crypto exchange ends. The market capitalization of Binance USD is currently around $ 16.2 billion.
Similar to other stablecoins, the coin is linked to the course of the US dollar. Busd was launched on September 5, 2019, and aims to combine the stability of the dollar with blockchain technology.
6th place: Ripple (XRP)
The XRP cryptocurrency is a place before Binance. The market capitalization is currently around $ 20.2 billion. The digital currency XRP was created by the founders of the Ripple payment platform and should represent one of the major alternatives to other cryptocurrencies.
Ethereum and Bitcoin were primarily created to create a money and payment system that is independent of banks and states. Ripple, on the other hand, works with various banks, including Unicredit and Santander.
5th place: USD Coin (USDC)
In fifth place among the largest cryptocurrencies, is the USD coin with a market capitalization of $ 41.9 billion. Similar to other stablecoins, the cryptocurrency USD coin is tied to the course of the US dollar, which keeps the course of the digital currency largely stable and is therefore less volatile.
4th place: Binance Coin (BNB)
With a market capitalization of around 52 billion dollars, the Binance Coin, also known as BNB, to fourth place in the ranking of the biggest cryptocurrencies in 2023. The Binance Coin was created to support its own cryptocurrency platform and thus have one in creating one to participate in sustainable ecosystems.
3rd place: Tether (USDT)
In third place in the Top 10 Cryptocurrencies after market capitalization 2023, Tether manages. Just like the USD coin, Tether is a stable coin that is always bound to the course of the US dollar. Due to the low volatility, crypto investors should get more security when investing in digital currency.
However, there is always criticism, especially in basic construction. Because Tether is only published by a company that has a non -transparent background. Despite the negative headlines, the market capitalization of the cryptocurrency Tether is currently around $ 68.2 billion.
2nd place: Ethereum (ETH)
Second place in the Top 10 Cryptocurrencies ranks third to third place. At around 200.6 billion dollars, the market capitalization of Ethereum is currently three times larger than the market capitalization of third-placed Tether.
Basically, Ethereum is a decentralized blockchain system that has its own cryptocurrency, ether. The goal of the crypto platform is to become a decentralized application for users from all over the world. On the blockchain platform, it is therefore also possible to not only act with the cryptocurrency ether but also to complete so-called smart contracts. These automatically carry out programmed agreements or contracts. In the future, transactions should be made cheaper and more reliable.
On September 15, 2022, Ethereum was the focus of reporting due to the so-called Merges. Since then, Ethereum has no longer relied on the (Pow) Consensus Process, but on (POS).
1st place: Bitcoin (BTC)
Bitcoin is still undisputed in first place among the Top 10 Cryptocurrencies after market capitalization in 2023. The market capitalization of the oldest cryptocurrency is currently around $ 443.5 billion. Bitcoin reached the current all-time high in the market capital on November 8, 2021. At that time, the market capitalization of the oldest and most important cryptocurrency was $ 1,274.8 billion.
If the sum of the market capitalization of Bitcoin and Ethereum is collected together, places one and two of the current ranking make up more than 65 percent of the market capitalization of the entire crypto market.