The cryptocurrency industry continues to see rapid growth across the globe. At the current time, the total cryptocurrency market is valued at approximately $2.30 Trillion, with Bitcoin accounting for more than $2.13 Trillion worth of this valuation. The price of a single Bitcoin (cryptocurrency) is approximately $160,000, which equates to approximately Rs. 91 lakhs in Indian Rupees. In addition to Bitcoin, many other digital currencies are available on the market, attracting investors with the potential for returns and market capitalizations. (Crypto Coins) The pool of Altcoins is expanding at a staggering rate.
Ethereum: The largest alternative coin (Altcoin)
After Bitcoin, Ethereum (ETH) is considered the largest Altcoin dominating the market. Its primary function is to provide the backbone of applications using Decentralized Finance (DeFi). Presently, Ethereum’s market cap is approximately $292 Billion; however, when considering the value of its blockchain ecosystem, Ethereum is worth approximately $815 Billion. The return generated from ETH to date is more than 189,768% of the investment made in ETH.
Tether USDT
Tether USDT is a stablecoin built on the Ethereum blockchain. It has a market capitalization of about $156 billion. Its price is now about one dollar, and so far this coin has given a return of 21.86 percent. This coin is mainly used to maintain stability in trading.
XRP: Popular for Fast Transactions
With a market cap of $128 billion, XRP is a pre-mined digital asset that is used for fast and cheap cross-border transactions. It is managed on the XRP ledger. So far, this coin has given a return of more than 1,592 percent.
Binance Coin
The world’s largest crypto exchange Binance has its own coin, BNB or Binance Coin. This coin is built on the Ethereum ecosystem. Its market cap is $90 billion. Its return so far is 18,747 percent, which makes it very attractive.
Solana: Ethereum’s rival
Solana, which is considered a direct competitor to Ethereum, has emerged quickly, especially in the NFT market. Its market cap is $77 billion and it has given a return of 12,472 percent so far.
What are the other altcoins?
In sixth place is USDC, which is another stablecoin. Its market capitalization is $61 billion. Tron (TRX) is in seventh place with a market capitalization of $25 billion. Elon Musk’s famous meme coin Dogecoin is in eighth place with a market capitalization of $24 million. In ninth place is Cardano (ADA) which is worth $20 billion. And last of all, there is a coin called Hyperliquid (HYPE) which is new to the crypto world, with a market capitalization of $12 billion.