Top ten cryptocurrencies by market capitalization in 2022
What is currently the largest cryptocurrency? It can help keep an eye on market capitalization - the ten largest cryptocurrencies' current rankings.
Of all the cryptocurrencies, Bitcoin accounts for the largest share of market capitalization to date.
Ethereum, Cardano, and Solana also made it into the top ten digital currencies in 2022. Current overview of cryptocurrencies One of the largest cryptocurrencies in 2022 according to their current second-largest is the top ten cryptocurrencies based on market capitalization in 2022
10th place: Terra (Luna)
Terra is a blockchain protocol for stable coins, the so-called stable coins. These are cryptocurrencies that combine with the underlying assets For example, it could be a currency like a dollar. For example, the stable coin "TerraUSD" is similar to the US dollar. Relating to the development of a particular currency, the price of this stable coin does not fluctuate like the prices of other cryptocurrencies. The Terra Network collects cryptocurrencies that he cryptocurrency euro or yuan, among other things.
Terra Lunar has a market capitalization of $ 22.6 billion, which puts it in 10th place. The South Korean company Terraform Labs is behind the project, which was founded in 2018 by Do Kwon and Daniel Shin.
9th place: Snowfall (AVAX)
Avalanche currently has a market capitalization of about .7 23.7 billion - which means it ranks ninth in the ranking of the largest cryptocurrencies by market capitalization.
The snowfall actually started in September 2020 Accordingly, the network is super Godot, as complex as competition protocols Avalanche is the fastest network of so-called smart contracts, meaning virtual contracts that are exchanged through blockchain.
It already shows who Avalanche wants to compete with - including Ether, the second-largest cryptocurrency, whose Ethereum blockchain can also process smart deals and has similar crash features. Both cryptocurrencies are based on so-called proofs of the stack algorithm: the transactions are authorized by the legitimacy of the network. Anyone with a certain amount of Avax tokens can be a verifier and the requirements for this are very low compared to other protocols.
More: Snowfall (AVAX): Will cryptocurrency be the next Ethereum?
8th place: Solana (SOL)
Solana is only in the top ten in terms of market capitalization growth since last year. The cryptocurrency was founded by Anatoly Yakovenko in 2017, and in the summer of 2021 there was a price explosion.
Solana is based on a new timestamp algorithm called Proof of Date. Allows automated transactions to link together and occur in milliseconds
Solana relies on proof of betting. It also makes tracking possible. Proof of stack is a process by which a blockchain network is agreed upon on which the participant can create the next block. Stacking means that cryptocurrencies are kept in a proof-of-stack blockchain for a certain period. This way everyone can see the individual transactions.
SOL currently has a market capitalization of about $ 33.2 billion, making Solana the eighth-largest cryptocurrency.
At the beginning of January 2021, the market capitalization was still $ 85.5 million. At the time, Solana was priced at $ 1.84, but then reached an all-time high of $ 259.40 on November 6th.
More: Solana (SOL) is establishing itself in the crypto market
in 7th place: Cardano (ADA)
Cardano is seventh in the current position. Ethereum founder Charles Hoskinson, who was the CEO of IOHK in building the Cardano blockchain, was involved with the foundation.
The market capitalization of digital currency is currently around $ 37.1 billion. At the beginning of 2021, the market capitalization was still 5.45 billion, but as of September 3, Cardano had a market capitalization of over $ 95.02 billion.
The goal of cryptocurrency is to research and solve blockchain currencies. In 2020, for example, an update was made with the goal of "50-100 times more decentralization" of the blockchain. Alonzo's last update was on September 12. Since then, so-called smart deals can also be exchanged through blockchain, i.e. virtual deals.
More: Cardano (ADA): What does a bitcoin alternative mean?
6th place: Ripple (XRP)
One place before Cardano is the cryptocurrency XRP. The market capitalization is currently about .1 40.1 billion. The digital currency XRP was created by the founders of the payment platform Ripple and was intended to be a great alternative to other cryptocurrencies.
Ethereum and Bitcoin were primarily created to create a money and payment system independent of banks and states. Ripple, on the other hand, works with various banks, including Unicredit and Santander.
· More: Ripple (XRP): Wall Street service provider - What good is a Ripple investment?
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5th place: USD Coin (USDC)
USD Coin ranks fifth among the largest cryptocurrencies with a market capitalization of $52.6 billion. Similar to other stable coins, the cryptocurrency USD Coin is also tied to the exchange rate of the US dollar, which keeps the exchange rate of the digital currency largely stable and is, therefore, less volatile.
4th place: Binance Coin (BNB)
With a current market capitalization of around $ 71.2 billion, Binance Coin, also known as BNB, ranks fourth in the ranking of the largest cryptocurrencies in 2022. Binance Coin was created to support its cryptocurrency platform and thus become contribute to the creation of a sustainable ecosystem.
However, there have also been negative headlines about cryptocurrency in the past. British authorities accused the Binance-associated crypto platform of providing financial transactions without the required license. This draws the attention of several regulators to Binance.
Third Place: Tether (USDT)
Tether is the third-largest cryptocurrency by market cap. As the US dollar coin, the string is a stable currency that is always tied to the US dollar exchange rate. Cryptocurrency investors need to be extra safe when investing in less volatile digital currencies.
However, there are always criticisms, especially the basic structure. Because the teether is only supplied by a company that has its opaque backing. In addition, Tether Exchange is affiliated with BitFinex, which casts doubt on its crypto offering due, among other things, to addresses in the Caribbean.
Despite the negative headlines, the cryptocurrency thriller market cap is currently around $78.7 billion.
More: Tether (USDT): The multi-billion dollar mystery behind the stable coin
Second Place: Ethereum (ETH)
The second-largest cryptocurrency is far behind Ethereum. At around 6376.8 billion, Ethereum's market cap is three times that of Tether, currently in third place.
Ethereum is essentially a decentralized blockchain system with the cryptocurrency Ether. The goal of the crypto platform is to be a decentralized application for users all over the world. On blockchain platforms, transactions can be made with Ether, not only cryptocurrencies but also so-called smart contracts. These scheduled agreements or agreements automatically. In the future, transactions should be more reliable and affordable.
More: Ether (ETH) - Is it worth investing in Ethereum?
1st place: Bitcoin (BTC)
Bitcoin remains the undisputed number one among the largest cryptocurrencies by market cap in 2022. The oldest cryptocurrency currently has a market cap of around 636.3 billion yen. Bitcoin reached an all-time high with its market cap on November 8, 2021. At that time, the oldest and most important cryptocurrency had a market cap of $1,274.8 billion.
If you calculate the sum of Bitcoin and Ethereum market cap together, the first and second positions in the current ranking are over 65 percent of the market cap of the entire crypto market.
More: Coinbase Stock - Bitcoin Alternatives?
The associated crypto platform Binance was accused by British authorities of having offered financial transactions without the necessary licenses. This brought Binance into the focus of several regulatory authorities.
3rd place: Tether (USDT)
Tether ranks third among the largest cryptocurrencies by market capitalization. Just like the USD Coin, Tether is a stable coin that is always pegged to the US dollar exchange rate. The low volatility should give crypto investors more security when investing in digital currency.
However, there is always criticism, especially in the basic construction. Because Tether is only issued by a company that itself has an opaque background. In addition, Tether is connected to the exchange Bitfinex, which, among other things, causes skepticism in the crypto scene due to addresses in the Caribbean.
Despite the negative headlines, the market capitalization of the cryptocurrency Tether is currently around 78.7 billion US dollars.
More: Tether (USDT): The billion-dollar puzzle behind the stable coin
2nd place: Ethereum (ETH)
The second-largest cryptocurrency is ranked a long way behind Ethereum. At around $ 376.8 billion, Ethereum’s market cap is currently three times larger than third-ranked Tether’s market cap.
Ethereum is a decentralized blockchain system that has its 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 not only to trade with the cryptocurrency ether but also to conclude so-called smart contracts. These automatically execute programmed agreements or contracts. In the future, transactions should be made more cost-effective and reliable.
1st place: Bitcoin (BTC)
Bitcoin is still the undisputed number one among the largest cryptocurrencies by market capitalization in 2022. The market capitalization of the oldest cryptocurrency is currently around 838.3 billion US dollars. Bitcoin reached its current all-time high in terms of market capitalization on November 8, 2021. At that time, the market capitalization of the oldest and most important cryptocurrency was $1,274.8 billion.
If you calculate the sum of the market capitalization of Bitcoin and Ethereum together, first and second place in the current ranking account for more than 65 percent of the market capitalization of the entire crypto market.
More: Coinbase stock - alternative to Bitcoin?
The largest cryptocurrencies by market capitalization 2022 in the table.
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