AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Cryptocurrencies have once again gained momentum in recent weeks, after being in a bearish trend during Q1 2021
- While Bitcoin is the most known digital currency, thousands more have emerged to cater to the evolving requirements in the space.
- Some of the top cryptocurrencies include Bitcoin, Ethereum, Cardano and others.
Cryptocurrency and digital assets have increasingly gained mass attention this year. The cryptocurrency market has been back on a bullish run driven by increased optimism in the market after being in a bearish trend during Q1 2021, where Bitcoin fell from a high of over US$ 60,000, down to US$ 30,000 earlier this year.
Moreover, thousands of newer cryptocurrencies have emerged since Bitcoin’s inception in 2009, as more and more people are looking to invest in digital currency and as newer cryptos aim to address existing challenges.
Notably, the emerging non-fungible token (NFT) and decentralised finance (DeFi) industry within the crypto market have been among the fastest growing sub sectors within the blockchain and digital currency market in 2021.
Related Article: Visa powered crypto: Payments giant forays into the world of NFT commerce
In this article, let us take a look at the top 10 cryptocurrencies according to their market cap:
- Bitcoin (BTC)
Bitcoin is the oldest and the largest cryptocurrency in the world and is a peer-to-peer digital currency. Despite BTC’s prices falling sharply earlier this year due to China’s crackdown on the digital currency, Elon Musk’s changing stance and other factors, the digital currency has rebounded in recent months.
Bitcoin’s price is currently trading at US$ $49,414.39, down by 1.62 per cent in the past 24 hours as of 24 August at 10:35 AM GMT+1, while BTC’s market cap stands at US$ 928.279 billion. BTC’s prices have risen by 5.32 per cent in the past week.
Also, BTC’s total volume stands at US$ 35.039 billion, up by 9.93 per cent in the past 24 hours. Bitcoin is still the most popular crypto, with its dominance currently at 43.43 per cent as of 24 August, down by 0.29 per cent over the past day.
Related Article: Non-Fungible Defi: Perfect mix of NFT and DeFi on One Platform
- Ethereum (ETH)
Ethereum is a cryptocurrency and a blockchain platform that also facilitates developing others cryptocurrencies and DeFi apps. Popular coins such as Tether, Binance Coin and others are built on the Ethereum network. ETH is the second largest crypto by market.
Ethereum’s price is currently trading at US$ 3,322.05, down by 0.17 per cent in the past 24 hours, as of 24 August at 10:54 AM GMT+1, while ETH’s market cap stands at US$ 388.570 billion. ETH’s prices have risen by 2.27 per cent in the past week.
Also, its total volume stands at US$ 19.344 billion, down by 3.06 per cent in the past 24 hours. ETH’s approximate return on investment (ROI) based on time of launch or its earliest known price is at 117,219.68 per cent.
- Cardano (ADA)
Cardano is an environment friendly crypto as it is not as energy intensive as Bitcoin. It is based on the proof of stake consensus blockchain protocol.
Cardano’s price is currently trading at US$ 2.87, up by 1.51 per cent in the past 24 hours, as of 24 August at 11:21 AM GMT+1, while its market cap stands at US$ 92.216 billion. ADA’s prices have risen by 36.91 per cent in the past week.
Also, its total volume stands at US$ 8.173 billion, up by 0.42 per cent in the past 24 hours. ADA’s approximate ROI is at 13,148.92 per cent.
- Binance Coin (BNB)
Binance Coin was launched in 2017 and is a coin used to pay fees and make trades on the biggest cryptocurrency exchange platform in the world, Binance.
Binance Coin’s price is currently at US$ 488.14, down by 1.50 per cent in the past 24 hours, as of 24 August at 11:27 AM GMT+1, while its market cap stands at US$ 82.101 billion. BNB’s prices have risen by 13.43 per cent in the past week.
Also, its total volume stands at US$ 2.902 billion, down by 8.72 per cent in the past 24 hours. BNB’s approximate ROI is 422,017.29 per cent.
- Tether (USDT)
Tether, which was launched in 2014 as Realcoin, is a stable coin, which means its value is pegged to a fiat currency, usually the US dollar.
Tether’s price is currently trading at US$ 1.00, up by 0.04 per cent in the past 24 hours, as of 24 August at 11:34 AM GMT+1, while its market cap stands at US$ 65.069 billion. Its prices have risen by 0.06 per cent in the past week.
Also, its total volume stands at US$ 75.078 billion, up by 0.12 per cent in the past 24 hours. The USDT token’s approximate ROI is at 0.1 per cent.
- Ripple (XRP)
Ripple allows users to make international transactions almost instantaneously, which normally takes about 10 days when done via a bank, thereby making it popular amongst several banks.
XRP’s price is currently trading at US$ 1.24, down by 3.66 per cent in the past 24 hours, as of 24 August at 11:42 AM GMT+1, while its market cap stands at US$ 57.503 billion. Its prices have risen by 2.51 per cent in the past week.
Also, its total volume stands at US$ 5.738 billion, up by 0.80 per cent in the past 24 hours. XRP’s approximate ROI is at 20,937.89 per cent.
- Dogecoin (DOGE)
Dogecoin is a popular meme coin, which was forked from Litecoin in 2013. While it was launched as a fun internet meme coin, the crypto gained a wider audience after Tesla’s founder and CEO Elon Musk stated it is his favourite crypto earlier this year.
DOGE’s price is currently trading at US$ 0.3125, down by 3.53 per cent in the past 24 hours, as of 24 August at 11:47 AM GMT+1, while its market cap stands at US$ 40.948 billion. Its prices have fallen by 6.89 per cent in the past week.
Also, its total volume stands at US$ 2.154 billion, down by 27.55 per cent in the past 24 hours. DOGE’s approximate ROI is at 55,773.98 per cent.
- Polkadot (DOT)
Polkadot was launched in 2020 and is a crypto that aims to facilitate interoperability between other blockchain networks. The crypto also uses a proof of stake mechanism.
DOT’s price is currently trading at US$ 27.48, down by 2.06 per cent in the past 24 hours, as of 24 August at 11:53 AM GMT+1, while its market cap stands at US$ 27.127 billion. Its prices have increased by 4.07 per cent in the past week.
Also, its total volume stands at US$ 1.415 billion, down by 28.07 per cent in the past 24 hours. DOT’s approximate ROI is at 884.91 per cent.
- USD Coin (USDC)
USD Coin is another stable coin and is pegged to the US Dollar, similar to Tether. The coin is based on the Ethereum blockchain protocol and can be used to complete global transactions.
USD Coin’s price is currently trading at US$ 1.00, up by 0.05 per cent in the past 24 hours, as of 24 August at 12:04 PM GMT+1, while its market cap stands at US$ 26.954 billion. Its prices have increased by 0.04 per cent in the past week.
Also, its total volume stands at US$ 2.432 billion, down by 1.23 per cent in the past 24 hours.
- Solana (SOL)
Solana was launched in 2020 and is geared at providing DeFi solutions, decentralized apps (DApps) and more. It is based on a hybrid mechanism which uses proof of stake and proof of history protocols.
SOL’s price is currently trading at US$ 77.65, up by 6.70 per cent in the past 24 hours, as of 24 August at 12.10 PM GMT+1, while its market cap stands at US$ 22.557 billion. Its prices have increased by 9.11 per cent in the past week.
Also, its total volume stands at US$ 1.806 billion, up by 54.82 per cent in the past 24 hours. SOL’s approximate ROI is at 35,306.01 per cent.
Bottom Line
Most of the above cryptos are currently down by over 15 to 23 per cent from their all-time highs, indicating there is a possibility of a bounce back in buying them at current prices. However, since the crypto market is extremely volatile, investors must do their own research prior to choosing to invest in such digital currencies.
