Top 10 Cryptocurrencies by Market Cap in 2023

Crypto

#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.

#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 supply.

#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.

#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.

#6 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 blockchain mechanism for facilitating payments, making it useful for cross-border transactions.

#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.

#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.

#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.

#2 Ethereum (ETH) Price: $1,657.40 Market Cap: $203 billion Ethereum is known for its smart contract aspect and is one of the most recognizable names in the crypto space.

#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.

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