The crypto market has always been analysed by the ranking position of cryptocurrencies. And investors found it easy to choose the most trending cryptocurrency as per market ranking. Ranking of cryptocurrencies is done as per their type, popularity, inception date, usage, and many more. However, it is also a fact that ranking is not beatable with a market capitalization in the case when a new cryptocurrency is introduced in the market. Therefore, as per market cap, it becomes easy to bifurcate the cryptocurrency as per their ranking scenario.
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Why Market Cap: The Motivation Behind
As the crypto space is twinkling with several crypto assets. But all of them are not reliable. Thus, it becomes difficult for the buyers to choose the right crypto. They started comparing the crypto assets not only with one another but with real-world assets that exist in the companies also.
Top Crypto Coins
Now as we have discussed the reason behind the reliable ranking of asset metrics. Now let’s have a look at the top crypto coins highly dependable in the crypto market.
With a market capitalization of around $400 billion, it is one of the most required crypto coin. Background Bitcoin is considered to be a digital gold due to its store of value feature. However, bitcoin ranked at the top in the digital market. However, during July 2022, Bitcoin dominated the crypto space with the sharing part of 41.80%. During its origin, Bitcoin exceeded every other crypto asset due to its decentralised and peer-to-peer system, viable technology, and token-generating and adopting features. It’s a growth expectation. In the trading market, it is approximately $21,000 and touched the peak in November at the level of $69,789. Its market capitalization was $1.27 trillion. However, bitcoin is one of the strongest crypto assets in the market and has surpassed every other coin in the digital world of cryptocurrency.
The market capitalization of Ethereum is over $172 billion. If we talk about the mother of decentralised applications, Ethereum would be the right answer as it introduced the market with smart contracts. The platform is a blessing for the blockchain developers behind the list of other crypto projects such as Defi, NFTs, etc. Ethereum has developed a platform where resources and services both have access to their developers on payment of transaction fees with the help of its token Ether. Ether also has store value with a peer-to-peer transaction system and staking quality. its expected growth value reached above $1,401 and it’s all-time highest peak is $4,892.
Binance Coin (BNB)
Its capital marketization is around $39 billion. The native token of the finance system is Binance Coin (BNB). The main motive of this transaction is mainly focused on transactions occurring across blockchains and incentives earned through the ecosystem. The finance chain and the finance chain of the ecosystem are based on decentralised applications (dApps) where other mechanisms are also involved such as developer-centric mechanisms. However, its expected growth in July 2022 was $244 which was touching the all-time growth level of $670. If we look at the average trading system, BNB is said to be the most traded coin.
The market capitalization of Ripple crypto is over $16 billion. Ripple was made to streamline global payments for organisations. Since then, Ripple has been the way for many resourceful products such as RippleNet and XRP Ledger. Moreover as SWIFT was the top payment network globally, Ripple aims to replace the SWIFT payments network. Moreover, its expected growth in July 2022 reaches $3.38 and by the time of 2020-2021, XRP touched a high of $1.42.
Its current market capitalization is approximately $8 billion. It is one of the features in the whole list of crypto coins. Dogecoin was supported by Elon Musk who was a strong influencer of the cryptocurrency. The native token of Dogecoin was the Doge. It was just like a small crypto assert but involving a big circulating volume and navigating the market cap since its starting value. However, the DOGE coins end their trading at the $0.062 level due to high volatility. Moreover, it was considered to be the most inflationary token with 5 million new roles entered every year but not used for Implementation. Therefore, it becomes very difficult to predict its long-term value. The traders however preferred the Dove coin due to its higher volatility and liquidity in the crypto market.