Top 10 Cryptocurrencies Of 2023
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Loading... - Ita Gathoni
- 04 Apr 2023
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From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrencies, making it overwhelming when you’re first getting started in the world of crypto. To help you get your bearings, these are the top 10 cryptocurrencies based on their market capitalization or the total value of all the coins currently in circulation.
What Are Cryptocurrencies?
A cryptocurrency is a digital asset that can circulate without the centralized authority of a bank or government. To date, there are 23,080 cryptocurrency projects out there that represent the entire $1 trillion crypto market.
1. Bitcoin (BTC)
- Market cap: $519.7 billion
Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.
Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one Bitcoin for about $500. As of Mar. 28, 2023, a single Bitcoin’s price was around $26,886. That’s a growth of 5,277%.
2. Ethereum (ETH)
- Market cap: $212.1 billion
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
Ethereum has also experienced tremendous growth. From April 2016 to the end of March 2023, its price went from about $11 to around $1,734, increasing 15,659%. Read More…
