Here is a list of Top 10 Cryptocurrency 2023 by Market Cap. While Bitcoin might be the most well-known cryptocurrency, there are actually thousands of other options in the world of digital currencies. These alternatives to Bitcoin are referred to as “altcoins”. In this article, we will take a look at the largest cryptocurrencies by market capitalization, as of February 8, 2023.
Top 10 Cryptocurrency 2023 –
1. Bitcoin (BTC)
Price: $23,017
Market Cap: $444 billion
Bitcoin is the currency that started it all, with its creation in 2009. It wasn’t until 2017 that Bitcoin gained widespread popularity. Bitcoin is still often referenced when discussing digital currencies.
2. Ethereum (ETH)
Price: $1,657.40
Market Cap: $203 billion
Ethereum is a cryptocurrency platform that uses the currency Ether. It is known for its smart contract aspect and is one of the most recognizable names in the crypto space.
3. Tether (USDT)
Price: $1.00
Market Cap: $68 billion
Tether is a stablecoin, meaning its price is tied to a specific asset, in this case, the US Dollar. It acts as a medium for traders moving from one cryptocurrency to another, but there are concerns about its stability and whether it is backed by reserves.
4. Binance Coin (BNB)
Price: $328.93
Market Cap: $52 billion
Binance Coin is the cryptocurrency issued by Binance, one of the largest crypto exchanges in the world. Initially created as a token for discounted trades, Binance Coin can now be used for payments and purchasing goods and services.
5. USD Coin (USDC)
Price: $1.00
Market Cap: $42 billion
USD Coin is another stablecoin, pegged to the US Dollar, with its value expected to remain stable. It is backed by fully reserved assets or those with equivalent fair value, held in accounts with regulated US institutions.
6. Ripple (XRP)
Price: $0.3987
Market Cap: $20 billion
XRP, formerly known as Ripple, was created in 2012. It offers a way to pay in multiple real-world currencies and uses a trustless mechanism for facilitating payments, making it useful for cross-border transactions.
7. Binance USD (BUSD)
Price: $1.00
Market Cap: $16 billion
Binance USD is a dollar-backed stablecoin from Binance and Paxos. Launched in 2019 and regulated by the New York Department of Financial Services, Binance USD runs on the Ethereum blockchain.
8. Cardano (ADA)
Price: $0.3937
Market Cap: $14 billion
Cardano is the platform behind the currency ADA. Created by the co-founder of Ethereum, Cardano also uses smart contracts and offers identity management.
9. Dogecoin (DOGE)
Price: $0.09036
Market Cap: $12 billion
Dogecoin was created as a joke after the rise of Bitcoin and takes its name from an internet meme featuring a Shiba Inu dog. Unlike many digital currencies with a limited number of coins, Dogecoin has unlimited issuance and can be used for payments and sending money.
10. Polygon (MATIC)
Price: $1.32
Market Cap: $11 billion
Polygon, formerly known as Matic, was formed in 2017 and focuses on making digital app creation accessible, scaling up the Ethereum cryptocurrency.
Bottom line
Although the U.S. government is planning to play a more active role in regulating the cryptocurrency industry, the cryptocurrency market is still a Wild West, so those who are interested in making bets on these digital assets should not invest more money than they can afford to lose. The price of crypto assets was under pressure for the majority of 2022, and trading has been erratic at the beginning of 2023. It’s also crucial to keep in mind that individual investors frequently trade against extremely experienced competitors, making it a risky experience for beginners.
Disclaimer: Before choosing an investment, it is recommended for all investors to conduct their own independent research on different investment strategies. Additionally, investors are warned that past performance of investment products does not guarantee future price growth.
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