7) U.S. Dollar Coin (USDC)
Market Cap – $30 Billion (As on 10th March, 2024)
Similar to Tether, USD Coin (USDC) is a stablecoin backed by U.S. dollars, aiming to maintain a 1:1 ratio. Powered by Ethereum, USDC enables global transactions.
8) Cardano (ADA)
Market Cap – $26 Billion (As on 10th March, 2024)
Introduced relatively later to the crypto scene, Cardano (ADA) is distinguished by its early adoption of proof-of-stake validation, enhancing transaction speed and reducing energy consumption compared to proof-of-work systems. ADA, Cardano’s native coin, facilitates smart contracts and DApps similar to Ethereum.
Beginning at $0.02 in 2017, ADA’s price stood at $0.734 as of March 10, 2024, signifying an increase of 2,694%.
9) Avalanche (AVAX)
Market Cap – $16.3 Billion (As on 10th March, 2024)
Avalanche boasts fast transaction speeds, low fees, and a substantial total value locked (TVL) in decentralized finance. A high TVL reflects protocol popularity and cryptocurrency adoption. Avalanche’s current price is $43.
10) Chainlink (LINK)
Market Cap – $11.8 Billion (As on 10th March, 2024)
Chainlink enables the integration of off-chain data into smart contracts, offering other blockchains access to external information such as data feeds and payment methods. This innovative service has attracted attention from data providers like Huobi and Brave New Coin. Chainlink’s current price is $20.
Frequently asked questions (FAQs)
- What are the top cryptocurrencies by market cap?
The top cryptocurrencies by market cap are bitcoin and ethereum, which have long been entrenched as the No. 1 and No. 2 cryptocurrencies.
- Are cryptocurrencies a good investment?
Bitcoin, ethereum and other top cryptocurrencies have been extremely volatile. But they have also performed very well for investors who have bought and held through the many ups and downs of the crypto market. However, the oldest cryptocurrency, bitcoin, has only been around since 2009. So it’s unclear how well cryptocurrencies will perform as investments over a long time horizon.