Top 10 Cryptocurrencies Of 2022 By Market Cap
In every market there are winners and losers. Getting started with cryptocurrencies can be very difficult. In this article, we provide you with an overview of the top 10 cryptocurrencies by market cap that can help you navigate the endless sea of cryptocurrencies.
Cryptocurrency market capitalization is one of the most important indicators for valuing and ranking cryptocurrencies. The higher the market capitalization of a cryptocurrency, the more dominant it is considered to be. Cryptocurrency market cap is a metric that measures the overall value of a cryptocurrency. In general, market capitalization gives investors an idea of the current status of a project and its performance.
Top 10 cryptocurrencies by market cap
Bitcoins (BTC)
Market cap: $322,520,463,898
Created in 2009 by a mysterious developer named Satoshi Nakamoto, Bitcoin (BTC) was the first and most valuable player in the new crypto asset class.
Bitcoin is based on an open-source code known as blockchain that creates a shared public history of transactions organized into "blocks" that are linked together to prevent unauthorized access. This technology keeps a permanent record of every transaction, allowing every bitcoin user to operate with the same understanding of who owns what. Bitcoin wallets contain public and private keys that work together to allow owners to digitally initiate and sign transactions. This unlocks Bitcoin's key feature: the secure transfer of ownership from one user to another.
While the value of bitcoin has skyrocketed over the years, the wealth of buyers varies greatly depending on when they invest. For example, those who bought in 2017 when the price of Bitcoin approached $20,000 will have to wait until December 2020 to recoup their losses. Recently, the price of bitcoin was just over $47,000 per coin at the beginning of 2022. After a difficult year for cryptocurrency as a whole, Bitcoin has fallen to its current price of just under $17,000. However, as of May 2016, Bitcoins can be purchased for around $500. Now, at a price of $17,000, Bitcoin's growth is estimated at 3,000%.
Ethereum (ETH)
Market Cap: $147,462,091,310
Ethereum is one of the thousands of cryptocurrencies that have emerged in recent years. A brainchild of 8 co-founders, Ethereum debuted in 2015. The cryptocurrency or platform is called Ethereum and the single entity is called Ether. NFTs can be powered by Ethereum and allow artists or other people to sell art or other items directly to buyers using smart contracts. By using Ethereum, some people can avoid central (government) control over the movement of money or other assets.
In 2016, ETH was in the early stages of its first market cycle. ETH rose from a low of $0.76 to $10.10. It climbs in 2021, reaching a new all-time high of $3,609 on May 6.
Anchor (USDT)
Market cap: $66,237,210,219
Tether (USDT) was one of the first cryptocurrencies to peg its market value to fiat currency. Tether, originally called “Realcoin,” values each token at $1 to reduce the friction of moving real money around the cryptocurrency ecosystem. Because of this connection to stable fiat currencies, Tether and other similar cryptocurrencies have been called "stablecoins". Tether is the largest stablecoin by market cap and users can trade tether for dollars. It also issues a gold-pegged cryptocurrency called Tether Gold, whose value is backed by physical gold bullion.
Currency in US dollars (USDC)
Market Cap: $44,355,511,995
USD Coin is another stablecoin backed by Ethereum. USDC was created as a very useful form of digital currency that does not allow for large changes in value in the middle of a transaction.
USDC can be used to facilitate blockchain payments and value transfers in Ethereum smart contracts. This allows users to store cryptocurrencies in wallets, ready to send to friends or interact with decentralized financial instruments and services, and with minimal risk of their assets depreciating before being destroyed to spent. It is secured by dollar-denominated assets with at least one fair value in US dollars outstanding in segregated accounts with regulated financial institutions in the United States.
Binance Coin (BNB)
Market Cap: $39,120,041,584
BNB is a cryptocurrency issued by Binance Decentralized Exchange (DEX), one of the largest cryptocurrency exchanges by volume. BNB originally started on Ethereum, but later switched to Binance Chain, which is designed for super-fast trading. However, due to the internal limitations of the blockchain system, the chain does not have much flexibility to use smart contracts. This limited scaling. To solve this problem, developers have created Binance Smart Chain, a new blockchain fully equipped to create successful decentralized applications.
BNB price in 2017 is only $0.10. By the end of December 2022, the price had risen to around $249, an increase of 248,944%.
XRP (XRP)
Market cap: $18,186,568,006
XRP is a cryptocurrency backed by the XRP Ledger. The XRP blockchain works a little differently than most other cryptocurrencies. Other cryptocurrencies open up their transaction records and verification processes to anyone who can quickly solve complex equations. However, the transaction is secure as most ledgers must receive verification before being added.
At the beginning of 2017, XRP was valued at $0.006. On December 27, 2022, the price reached $0.36, an increase of over 5,000%.
BinanceUSD (BUSD)
Market cap: $17,185,500,445
BUSD is a fiat-backed stablecoin pegged to the US dollar. For each unit of BUSD, there is a reserve of one US dollar. In other words, the supply of BUSD is pegged to the US dollar at a 1:1 ratio. Holders can exchange their tokens for fiat and vice versa. Paxos, the token issuer, issues monthly BUSD reserve certificates. The BUSD token is based on the Ethereum blockchain and complies with the ERC-20 standard. The BUSD to dollar exchange rate is always around 1:1. It is recognized as a medium of exchange by the New York State Department of Financial Services (NYDFS) and is used as a means of payment in cryptocurrency markets worldwide.
Dogecoin (DOGE)
Market cap: $9,539,810,348
Although Dogecoin has its roots as a currency, it has quickly become an Internet currency that makes tipping online on social media platforms easy due to its large supply and low price. It also works the same as many other cryptocurrencies and can be used as a means of payment wherever it is accepted. From a technical perspective, Dogecoin is very similar to some of the early altcoins which, like Bitcoin, were based on a proof-of-work consensus. Since they were created from the defunct Luckycoin, which was a fork of Litecoin, the two coins have a lot in common.
Dogecoin price in 2017 was $0.0002. As of December 2022, the price is $0.07, an increase of 36.771%.
Dreadlocks (ADA)
Market Cap: $8,755,359,068
The Cardano cryptocurrency is named Ada in honor of Augusta Ada King, widely believed to be the first female programmer. Ada is used in the PoS blockchain consensus mechanism. It is awarded as a reward for the work done for the blockchain by users participating in the pool of shares. Cardano is a blockchain platform founded by Charles Hoskinson in 2015. It was introduced in 2017. Cardano aims to be a decentralized application development platform with a multi-asset ledger and verifiable smart contracts.
As of 2017, the price of ADA is $0.02. As of December 20, 2022, the price is $0.26, an increase of over 1100%.
Polygon (OFF)
Market cap: $6,909,607,656
Polygon was previously called Matic Grid. Polygon (MATIC) is the Ethereum token that powers the Polygon network, Ethereum's scaling solution. It provides a simple foundation for new and existing blockchain projects to build on top of Ethereum without scaling issues. Polygon aims to enable faster and cheaper transactions on Ethereum by using layer 2 sidechains, which are blockchains that work alongside the Ethereum main chain. Users can deposit Ethereum tokens into Polygon's smart contract, interact with them within Polygon, and then withdraw them to the Ethereum main chain. MATIC tokens are used to pay transaction fees and participate in the proof-of-stake consensus.
Polygon provides solutions for casual users, developers and enterprises. Polygon's ultimate goal is to create an Internet of Things (IoT) for the Ethereum blockchain. In addition, Polygon offers a variety of solutions for developers on a network. This approach gives developers more control and customization when choosing the best scaling solution for their applications.
MATIC traded at $0.00263 per coin at launch. Today, MATIC is trading at $0.79, up 30.126%.
This concludes our list of top 10 cryptocurrencies. If you want to buy any of the top 10 cryptocurrencies, you can do it privately on StealthEX without having to sign up for the service. With over 600 different coins in our crypto library, you can make instant and seamless transfers from wallet to wallet.
How to buy the best cryptocurrency?
Just open StealthEX and follow these simple steps:
- Select the pair and the amount you want to trade. For example, exchange BTC for ETH.
- Click the Start Trading button.
- Enter the address of the recipient you want to transfer the cryptocurrency to.
- Edit transactions.
- Get your cryptocurrency.
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