Bitcoin, Ethereum, Solana These are the ten largest cryptocurrencies by market capitalization in 2021

Bitcoin, Ethereum, Solana These are the ten largest cryptocurrencies by market capitalization in 2021

Bitcoin, Ethereum, Solana These are the ten largest cryptocurrencies by market capitalization in 2021

Of all of them, Bitcoin makes up by far the largest share of market capitalization. Ethereum and the meme coin Dogecoin also make it into the top ten largest cryptocurrencies in 2021. An overview of which cryptocurrencies are also among the largest according to their current market capitalization in 2021.

These are the ten largest cryptocurrencies by market capitalization in 2021

Dogecoin (DOGE)

With a market capitalization of around tenth place among the largest cryptocurrencies in 2021. This digital currency is based on the well-known “doge meme”, which is why the logo of the currency also features the image of a dog of the Shiba Inu breed.

The Dogecoin was created as a fun counterpart to Bitcoin in order to offer a crypto currency outside of Bitcoin that is relevant for other target groups. Another difference to other cryptocurrencies is that Dogecoin uses what is known as Scrypt technology. The digital currency therefore also has the property that transactions can be completed more quickly.

However, the number of Dogecoins is unlimited. In contrast to Bitcoin, which is limited to 21 million digital coins, there is no limit to mining with Dogecoin, which is why the value of a coin remains low.

The cryptocurrency makes it to ninth place in the current ranking with a market capitalization of around. The digital currency was founded in 2017 and relies on blockchain technology. The special thing about Polkadot is that different blockchains are connected to each other, which can communicate with each other as a network.

For experts, cryptocurrencies like polkadot are seen as the future of the financial world. In the future, the bureaucracy and the associated fees can be gradually reduced and many processes can be automated.

In eighth place of the largest crypto currencies, the one with a market capitalization of. Similar to other stablecoins, the cryptocurrency USD Coin is also linked to the rate of the US dollar, which keeps the rate of the digital currency largely stable and is therefore less volatile.

7th place: XRP – Ripple (XRP)

One place in front of the USD Coin is the cryptocurrency. The market capitalization is currently around. The digital currency XRP was created by the founders of the payment platform Ripple and should be one of the great alternatives to other crypto currencies.

Ethereum and Bitcoin were primarily created to create a money and payment system that was independent of banks and states. Ripple, on the other hand, works with various banks, including Unicredit and Santander.

6th place: Cardano (ADA)

The sixth place in the ranking is occupied by the cryptocurrency. The Ethereum founder Charles Hoskinson, who, as CEO of IOHK, also helped develop Cardano’s blockchain, was involved in the establishment.

The market capitalization of the digital currency, which is still being developed, is currently around. In early 2021, its market cap was $ 5.45 billion, and Cardano’s market cap peaked at more than $ 95.02 billion on September 3.

The aim of the cryptocurrency is to research and solve problems with blockchain currencies. An update was carried out in 2020 that should make the blockchain “50 to 100 times more decentralized” than it was already. The last time the Alonzo update took place was on September 12th. This means that so-called smart contracts can now also be exchanged via the, i.e. virtual contracts.

has only been in the top ten coins with the highest market capitalization for a few months. The cryptocurrency was founded by Anatoly Yakovenko in 2017 and most recently experienced a price explosion.

Solana relies on a new timestamp algorithm called Proof-of-History. It enables automated transactions to be chained together that take place in fractions of a second.

Solana relies on proof-of-stake. That also makes staking possible. Proof-of-stake is a process by which a blockchain network reaches a consensus on which participant is allowed to generate the next block. Staking, in turn, means that cryptocurrencies are stored in a proof-of-stake blockchain for a certain period of time. Individual transactions can thus be viewed by everyone.

The increasing interest in Solana is also reflected in its market capitalization. This is currently around – so Solana is currently fifth among the largest crypto currencies. At the beginning of January, the market capitalization was still at $ 85.5 million. At the time, the Solana rate was $ 1.84, but rose to the current one on November 6th.

4th place: Tether (USDT)

It makes it to fourth place among the largest cryptocurrencies by market capitalization. Just like USD Coin, Tether is a stablecoin that is always tied to the rate of the US dollar. Due to the low volatility, crypto investors should get more security when investing in the digital currency.

However, there is always criticism, especially with the basic construction. Because Tether is only published by a company that itself has a non-transparent background. In addition, Tether is connected to the exchange exchange Bitfinex, which, among other things, causes skepticism in the crypto scene with addresses in the Caribbean.

Despite the negative headlines, the market capitalization of the crypto currency Tether is currently around.

3rd place: Binance Coin (BNB)

With a market capitalization of currently around, the, also known as BNB, ranks third in the ranking of the largest cryptocurrencies in 2021. The Binance Coin was created to support its own cryptocurrency platform and thus to help create a sustainable ecosystem.

However, there have also been negative headlines around cryptocurrency in the past. The associated crypto platform Binance was accused by British authorities of having offered financial transactions without the necessary licenses. As a result, Binance came into the focus of several regulatory authorities.

2nd place: Ethereum (ETH)

Second place among the largest cryptocurrencies is a long way off from third place. At around, the market capitalization of Ethereum is currently five times larger than the market capitalization of the third-placed Binance Coin.

Basically, Ethereum is a decentralized blockchain system that has its own cryptocurrency, Ether. The goal of the crypto platform is to become a decentralized application for users from all over the world. On the blockchain platform, it is therefore also possible not only to trade with the crypto currency ether, but also to conclude so-called smart contracts. These execute automatically programmed agreements or contracts. In this way, transactions should be made more cost-effective and reliable in the future.

1st place: Bitcoin (BTC)

In first place of the largest cryptocurrencies by market capitalization in 2021 is still the. The market capitalization of the oldest cryptocurrency is currently around. Bitcoin reached its current all-time high in market capitalization on November 8, 2021. At that time, the market capitalization of the oldest and most important cryptocurrency was $ 1,274.8 billion.

If you calculate the sum of the market capitalization of Bitcoin and Ethereum together, first and second place in the current ranking make up more than 60 percent of the market capitalization of the other cryptocurrencies.

The largest cryptocurrencies by market capitalization in 2021 in the table

BitcoinBTC$ 1,077.5 billion
EthereumETH$ 545.6 billion
Binance CoinBNB$ 104 billion
TetherUSDT$ 74.1 billion
SolanaSOL$ 72.6 billion
CardanoADA$ 55.5 billion
RippleXRP$ 46.2 billion
USD CoinUSDC$ 39.1 billion
PolkadotDOT$ 35.8 billion
DogecoinDOGE$ 27.8 billion

Source: Coinmarketcap.com as of December 3, 2021; 12:20 p.m.