Top 10 Best Cryptocurrencies

There are a number of different cryptocurrencies, from Dogecoin and Tether to Bitcoin and Ethereum, which can seem difficult when  just getting out in the industry. The  list of the top 10 cryptocurrencies, ranked by market capitalization (the total value of all coins in operation) Let’s understand and find which is best or better to choose.

In a glance:

What Are Cryptocurrencies?

A digital asset based on the technology of blockchain that is free for circulation without having the oversight of a bank or government is known as a cryptocurrency. The cryptocurrency sector, which is projected to reach $4.94 billion by 2030, now has 24,630 projects ongoing.

1. BTC (Bitcoin) | Market cap: 1.3 trillion | Buy Bitcoin 

The first cryptocurrency, known as Bitcoin (BTC), was developed in 2009 by Satoshi Nakamoto. BTC operates on a blockchain technology, which is a ledger that records transactions distributed over a network of thousands of computers, just like most other cryptocurrencies do. Bitcoin has protection from fraudsters because updates to the distributed ledgers need to be validated through the solution of a cryptographic problem known as proof of work.

As Bitcoin gains widespread recognition, its value increases. One bitcoin cost around $500 in May of 2016 and the price of one bitcoin in May, 2024 is about $58,939.00 or ₹49,09,618.7

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2. XRP(Ripple) | Market cap: $28.6 billion

XRP is a cryptocurrency that may be used on the Ripple network to enable the exchange of various currencies, including fiat currencies and other famous cryptocurrencies as well. Ripple is a digital technology and payment processing firm founded by some of the same individuals.

The price of XRP was $0.006 at the start of 2017. in May, 2024 price is about $0.52 or ₹43.316

3. DOGE (Dogecoin) | Market cap: $22 billion

Famously launched as a joke in 2013, Dogecoin quickly gained popularity as a cryptocurrency because of its dedicated community and innovative memes. Dogecoins may be manufactured for all time, unlike many other cryptocurrencies, which makes the currency subject to depreciation as supply grows.

In 2017, the price of Dogecoin was $0.0002. Its price had increased by 90,404% to $0.15 by April 2024. in May, 2024 price is about $0.13 or ₹10.829.

4. AVAX (Avalanche) | Market cap: $13.0 billion

Two key benefits that Avalanche offers are quick transaction times and cheap transaction costs. In addition, AVAX has a significant amount of money put in a decentralized financial system. The entire value of cryptocurrency assets placed in lending, staking, or liquidity pools inside a decentralized finance (DeFi) system is known as TVL.

A protocol’s popularity and a cryptocurrency’s rate of acceptance are both represented by a high TVL. The current price of Avalanche in May, 2024 is $37.08 or ₹3,088.764.

5. USDC (U.S. Dollar Coin) | Market cap: $33.3 billion

Similar to Tether, USD Coin (USDC) aims for a 1 USD to 1 USDC ratio and is a stable coin backed by US dollars. Ethereum powers USDC, and USD Coin allows  to make worldwide transactions. The current price of USDC in May, 2024 is $ 1.0 or ₹83.30.

6. BNB (Binance Coin) | Market cap: $84.9 billion

One of the biggest cryptocurrency exchanges in the world, Binance which accepts Binance Coin (BNB) as payment for fees associated with trading others. Binance Coin has grown beyond simply allowing trades on Binance’s exchange platform since its launch in 2017. These days, it may be utilized for travel booking, payment processing, and trade. Additionally, it may be exchanged or sold for other cryptocurrencies like Ethereum or Bitcoin.

In 2017, BNB was only worth $0.10. The current price of BNB in May, 2024 is $563.51 or ₹46,940.383.

7. USDT (Tether) | Market cap: $111.0 billion

Tether compared with specific other cryptocurrency variations, is a stable coin—that is, it is backed by fiat currencies such as the US dollar and the euro and maintains an approximate value equivalent to one of those currencies. Tether is preferred by investors who are concerned about the severe instability of other coins since, theoretically, its value is meant to be more stable than that of other cryptocurrencies.

in May, 2024 price is about $1 or ₹83.30.

8. SOL (Solana) | Market cap: $73.0 billion

Solana is a blockchain which powers decentralized programs (DApps), smart contracts, and decentralized finance (DeFi). It processes transactions fast and securely using a hybrid proof-of-stake (PFS) and proof-of-history (POH) method. The native token of Solana is SOL which drives the platform.

SOL’s initial price upon debut in 2020 was $0.77. currently in May, 2024 price is $137.43 or ₹11,447.919.

9. ETH (Ethereum) | Market cap: $357.2 billion

Ethereum is a both blockchain platform and cryptocurrency that is popular among developers due to its range of applications, including non-fungible tokens (NFTs) and so-called smart contracts, which run automatically when certain conditions are satisfied.

Ethereum has grown enormously as well. in May, 2024 price is about $2,966.10 or ₹2,47,076.13.

10. ADA (Cardano) | Market cap: $16.2 billion

ADA or Cardano which came later to the crypto world, is known for its early adoption of proof-of-stake (POS) validation. This solution reduces transaction times while reducing energy consumption and environmental effect by eliminating the competitive, problem-solving part of transaction verification in platforms such as bitcoin. Cardano, like Ethereum enables smart contracts and decentralized applications which are powered by its native token called ADA.

In comparison to other popular crypto currencies, Cardano’s ADA token has grown at a slower rate. In 2017, the ADA price was $0.02. in May, 2024 price is about $0.45 or ₹37.485.