We have listed the top 20 cryptocurrencies by market cap and price as an aggregate from top cryptocurrency exchanges. We also have the cryptocurrency price change from the past 24 hours, 7 days and 30 days. Bitcoin is currently the top cryptocurrency so we compare each of the cryptocurrencies on the list to Bitcoin. We also have the cryptocurrency trade volume that have been traded at exchanges (Coinbase, Binance, etc.) over the past 24 hours.
Learn about the Top 20 Cryptocurrencies
Bitcoin was the very first cryptocurrency. Invented by an anonymous person(s) in 2009, it kick-started a revolution of new digital money and decentralized information networks. Bitcoin is likened to digital gold because it has a limited supply and can act as a store of value. It is censorship-resistant, pseudonymous, and an effective means of cross-border payments.
- It has always been the largest coin by market cap value
- It is the most accepted cryptocurrency by merchants
- It is estimated that over 4 million bitcoins have been lost
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Ethereum is meant to be a decentralized world computer. It works as a general programming platform upon which other blockchain apps can be built. It uses its native currency ether as a way to exchange value and pay for computing power.
- Ethereum became popular as a platform to launch ICOs
- Many other coins are built on top of Ethereum technology
- In 2016, the largest app using Ethereum suffered a $60 million hack
Ripple is a real-time gross settlement network and payment network meant for regulated financial institutions to use. It is meant to streamline the onerous process for banks and eliminate third-parties like clearinghouses. Ripple’s native currency is called XRP.
- Ripple is being piloted by dozens of financial institutions all over the world
- The Ripple Company has other financial product that do not use XRP
- Ripple has a much faster settlement time than other top coins
Tether is a stablecoin. This means that it is pegged to the US dollar and rarely fluctuates beyond a 1:1 ratio. Tether is often used by traders to escape the massive volatility in crypto prices. One USDT is redeemable for 1 USD on select exchanges.
- When crypto prices fall sharply, Tether often has the highest daily volume
- There is no set limit for USDT and the company creates new coins regularly
- Tether is somewhat controversial for its banking relationships and lack of proof of reserves
Binance Coin (BNB)
Binance Coin began as a utility coin that is integrated in the Binance crypto exchange platform. Investors and traders on Binance can still use BNB for discounts on trading fees. Today, Binance Coin is also the native token of Binance Chain, an independent blockchain.
- Binance is one of the largest exchanges in the world
- Binance is headquartered in Malta
- Its CEO, named CZ, is one of the most prominent crypto entrepreneurs
Cardano is a protocol-layer blockchain platform that will support decentralized applications and the use of smart contracts. Cardano is aiming to add unique features, such as side chains and atomic swaps, for interoperability with other blockchains. It is also looking to add optional features like KYC/AML for financial institutions to help with regulations.
- Cardano’s founder, Charles Hoskinson, was also a founder of Ethereum
- The three entities running Cardano are: The Cardano Foundation, IOHK, and Emurgo
- Cardano has a rigorous academic peer-review process before any code is published
Dogecoin is a meme-inspired cryptocurrency that’s been around since December 2013. It is well-known for its vibrant community and its relationship with billionaire Elon Musk, who is an avid supporter of Dogecoin.
- DOGE is often merge-mined with Litecoin, due to having the same consensus algorithm
- Dogecoin was mentioned by Elon Musk on an episode of American sketch comedy show Saturday Night Live
- The maximum supply of Dogecoin is uncapped
USD Coin (USDC)
USD Coin is a stablecoin created by Coinbase and Circle, which is pegged to the US dollar. It is designed to be a more legally-compliant stablecoin, which works within US laws and regulations.
- USD Coin is managed by a consortium called Centre, which is made up of Coinbase, Circle and other companies
- USDC was initially just an Ethereum token, but now runs on multiple blockchains
- The token’s US dollar reserves are accounted for by an independent firm every month
Uniswap is a decentralized exchange on Ethereum, which allows users to trade directly from their wallet rather than holding funds with a third party. The UNI token is used to govern the platform, giving holders voting rights for platform decisions.
- UNI tokens were initially distributed to platform users in a surprise airdrop
- Trades made on Uniswap require Ethereum “gas” fees, to pay for the transactions on the network
- Anyone can list an Ethereum token on Uniswap
Polkadot is a next-generation blockchain platform which aims to scale to real-world use cases. Polkadot connects multiple specialized blockchains into a single network, allowing for greater customizability and speed.
- The Polkadot mainnet was launched in mid-2020
- Polkadot was co-founded by Dr. Gavin Wood, who also co-founded Ethereum
- The DOT token underwent a “token split” in August 2020, splitting each DOT token into 100 smaller tokens
Solana is a high-throughput blockchain which uses a combination of proof-of-history (PoH) and proof-of-stake (PoS). It’s designed to solve scalability issues on the base layer, without a need for sharding or layer-2 solutions.
- Multiple Solana…