The top 20 cryptocurrencies make up 85.93% percent of the total market

November 27, 2023 03:00 PM GMT | By Invezz
 The top 20 cryptocurrencies make up 85.93% percent of the total market
Image source: Invezz

In the crypto scene, market cap is a way to gauge a cryptocurrency’s popularity and potential for growth. Calculated by multiplying the total coins in circulation by the price per coin, this figure helps assess whether a cryptocurrency is a solid choice compared to others in terms of safety and potential returns.

According to Invezz.com, the top 20 cryptocurrencies make up 85.93% percent of the total market.

In a recent analysis, researchers examined the market caps of 2,174 cryptocurrencies listed on CoinMarketCap, revealing that the top 20 tokens command a substantial 85.93% of the total market. It’s worth noting that cryptocurrencies with self-reported market caps were intentionally excluded from the study.

The analysis also unveils that the top 120 cryptocurrencies account for a staggering 93.07% of the total market.

Within this landscape, Bitcoin emerges as the leader, capturing a significant 49.11% of the market share, followed by Ethereum with 16.50%.

These are the top 20 cryptocurrencies ranked by their total value in circulation, known as market capitalization. It’s not a suggestion on what to buy or avoid; rather, it’s a list of the most significant projects by market capitalization. It gives you an overview of the landscape before making decisions about investing in crypto:

RankCryptocurrencyMarket cap percentage
1Bitcoin49.11%
2Ethereum16.50%
3Tether USDt6.00%
4BNB2.34%
5XRP2.20%
6USDC1.66%
7Solana SOL1.59%
8Cardano0.91%
9Dogecoin0.76%
10TRON0.63%
11Toncoin0.55%
12Chainlink0.54%
13Avalanche0.50%
14Polygon0.47%
15Polkadot0.44%
16Wrapped Bitcoin0.41%
17Dai0.36%
18Litecoin0.35%
19Shiba Inu0.33%
20Bitcoin Cash0.29%

Market analyst for Invezz, Crispus Nyaga commented on the findings:

Market cap remains a crucial gauge of a cryptocurrency’s relevance, despite being criticized for reflecting long-term popularity rather than immediate value. Large-cap cryptocurrencies, with market caps exceeding $10 billion, are generally viewed as safer investments due to their stability compared to smaller assets. Mid-cap cryptos, while more volatile, offer greater growth potential, while small-cap cryptocurrencies are highly risky but may present short-term growth opportunities with the caveat of sudden crashes.

The post The top 20 cryptocurrencies make up 85.93% percent of the total market appeared first on Invezz


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