When people discuss cryptocurrencies, Bitcoin is the most talked-about, but there are hundreds upon thousands of other possibilities. Actually, cryptocurrencies that aren't Bitcoin are typically referred to as "altcoins," or substitutes for Bitcoin.
Though many other cryptocurrencies have grown to be just as popular as Bitcoin, which launched in 2009, it may have been the first significant cryptocurrency to enter the market.
These are the biggest cryptocurrencies based on the overall market capitalization, also known as market cap, which is the total dollar worth of all the coins in circulation. (As of May 3, 2024, the data comes from CoinMarketCap.com.)
Largest cryptocurrencies by market cap
1. Bitcoin (BTC)
Cost: $61,524
$1.21 trillion is the market cap.
Even now, when people discuss digital currency, they usually bring to Bitcoin, the coin that heralded the era of cryptocurrencies. The currency's mystery founder, who is thought to be Satoshi Nakamoto, unveiled it in 2009, and since then, it has experienced many ups and downs. Nevertheless, the cryptocurrency did not become well known until 2017. Investors now have an easy way to wager on Bitcoin thanks to the SEC's approval of the trading of ETFs that invest directly in the cryptocurrency in 2024.
$1.21 trillion is the market cap.
Even now, when people discuss digital currency, they usually bring to Bitcoin, the coin that heralded the era of cryptocurrencies. The currency's mystery founder, who is thought to be Satoshi Nakamoto, unveiled it in 2009, and since then, it has experienced many ups and downs. Nevertheless, the cryptocurrency did not become well known until 2017. Investors now have an easy way to wager on Bitcoin thanks to the SEC's approval of the trading of ETFs that invest directly in the cryptocurrency in 2024.
2. Ethereum (ETH)
Cost: $3,069
$369 billion is the market capitalization.
The second name in the cryptocurrency field that you're probably familiar with is Ethereum, which is the name of the platform. Ethereum's smart contract feature contributes to its popularity, but the system lets you utilize the currency, ether, for a variety of purposes.
$369 billion is the market capitalization.
The second name in the cryptocurrency field that you're probably familiar with is Ethereum, which is the name of the platform. Ethereum's smart contract feature contributes to its popularity, but the system lets you utilize the currency, ether, for a variety of purposes.
3. Tether (USDT)
Cost: $1.
$110 billion is the market capitalization.
The price of a Tether coin is fixed at $1. This is due to the fact that it is a stablecoin. Stablecoins are based on the value of a certain asset, the US dollar in Tether's example. Tether frequently serves as a bridge for traders switching between other cryptocurrencies. Instead, they use Tether instead of switching back to dollars. Some worry, meanwhile, that Tether uses a short-term type of unsecured debt rather than being securely backed by dollars kept in reserve.
$110 billion is the market capitalization.
The price of a Tether coin is fixed at $1. This is due to the fact that it is a stablecoin. Stablecoins are based on the value of a certain asset, the US dollar in Tether's example. Tether frequently serves as a bridge for traders switching between other cryptocurrencies. Instead, they use Tether instead of switching back to dollars. Some worry, meanwhile, that Tether uses a short-term type of unsecured debt rather than being securely backed by dollars kept in reserve.
4. BNB (BNB)
Cost: $576.31
$85 billion is the market capitalization.
One of the biggest cryptocurrency exchanges in the world, Binance, is the issuer of BNB. Although Binance Coin was first designed as a token to pay for trade discounts, it can now be used to make payments and make purchases of a range of goods and services.
$85 billion is the market capitalization.
One of the biggest cryptocurrency exchanges in the world, Binance, is the issuer of BNB. Although Binance Coin was first designed as a token to pay for trade discounts, it can now be used to make payments and make purchases of a range of goods and services.
5. Solana (SOL)
Cost: $141.48
$63 billion is the market capitalization.
Solana is a more recent cryptocurrency that was introduced in March 2020. It boasts about how quickly transactions can be completed as well as the general stability of its "web-scale" network. There is a cap of 480 million coins that can be issued of the SOL currency.
$63 billion is the market capitalization.
Solana is a more recent cryptocurrency that was introduced in March 2020. It boasts about how quickly transactions can be completed as well as the general stability of its "web-scale" network. There is a cap of 480 million coins that can be issued of the SOL currency.
6. USD Coin (USDC)
Cost: $1.
$33 billion is the market capitalization.
Similar to Tether, USD Coin's value is fixed to the US dollar, therefore it shouldn't change. According to the currency's creators, it is backed by completely reserved assets, also known as assets with "equivalent fair value," which are kept in accounts with banks that are subject to regulation in the United States.
$33 billion is the market capitalization.
Similar to Tether, USD Coin's value is fixed to the US dollar, therefore it shouldn't change. According to the currency's creators, it is backed by completely reserved assets, also known as assets with "equivalent fair value," which are kept in accounts with banks that are subject to regulation in the United States.
7. XRP (XRP)
Cost: $0.5256
$29 billion is the market capitalization.
XRP, formerly known as Ripple, was founded in 2012 and provides a means of making payments in a variety of real-world currencies. For cross-border transactions, ripple can be helpful as it facilitates payments through a channel that lacks trust.
$29 billion is the market capitalization.
XRP, formerly known as Ripple, was founded in 2012 and provides a means of making payments in a variety of real-world currencies. For cross-border transactions, ripple can be helpful as it facilitates payments through a channel that lacks trust.
8. Dogecoin (DOGE)
Cost: $0.1385
$20 billion is the market capitalization.
Dogecoin got its name from an internet meme of a Shiba Inu dog and was first made as a joke following the spike in Bitcoin. Dogecoin is a digital currency that can be issued indefinitely, unlike many others that have a cap on the total amount of coins. It can be used to send and receive money.
$20 billion is the market capitalization.
Dogecoin got its name from an internet meme of a Shiba Inu dog and was first made as a joke following the spike in Bitcoin. Dogecoin is a digital currency that can be issued indefinitely, unlike many others that have a cap on the total amount of coins. It can be used to send and receive money.
9. Toncoin (TON)
Cost: $5.49
$19 billion is the market capitalization.
Toncoin was created in 2018 and released by the private messaging service Telegram. The TON Foundation took up the project after Telegram gave up on it. Following Telegram's announcement that it would incorporate a TON-based wallet into its network, the price of tonnecoin surged in 2023.
$19 billion is the market capitalization.
Toncoin was created in 2018 and released by the private messaging service Telegram. The TON Foundation took up the project after Telegram gave up on it. Following Telegram's announcement that it would incorporate a TON-based wallet into its network, the price of tonnecoin surged in 2023.
10. Cardano (ADA)
Cost: $0.4651
$17 billion is the market capitalization.
The cryptocurrency technology that powers ada, the currency's name, is called Cardano. Cardano, a cryptocurrency developed by Ethereum's co-founder, also makes use of smart contracts to provide identity management.
$17 billion is the market capitalization.
The cryptocurrency technology that powers ada, the currency's name, is called Cardano. Cardano, a cryptocurrency developed by Ethereum's co-founder, also makes use of smart contracts to provide identity management.
11. Shiba Inu (SHIB)
Cost: $0.00002391
$14 billion is the market capitalization.
An Ethereum-based altcoin called Shiba Inu was developed in secret in August 2020 and has a Shiba Inu puppy as its symbol. Many people think that Shiba Inu is a good substitute for Dogecoin. After a sharp increase, its price peaked in the fall of 2021, then dropped by more than 90% before rising once more in the early months of 2024.
$14 billion is the market capitalization.
An Ethereum-based altcoin called Shiba Inu was developed in secret in August 2020 and has a Shiba Inu puppy as its symbol. Many people think that Shiba Inu is a good substitute for Dogecoin. After a sharp increase, its price peaked in the fall of 2021, then dropped by more than 90% before rising once more in the early months of 2024.
12. Avalanche (AVAX)
Cost: $35.02
$13 billion is the market capitalization.
Launched in 2020, Avalanche is a blockchain that rivals Ethereum as the most widely used blockchain for smart contracts. The native money of the Avalanche blockchain is called AVAX.
$13 billion is the market capitalization.
Launched in 2020, Avalanche is a blockchain that rivals Ethereum as the most widely used blockchain for smart contracts. The native money of the Avalanche blockchain is called AVAX.
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