Bitcoin is the most widely recognized and valuable cryptocurrency, accounting for over 50% of the global cryptocurrency market capitalization.
The ranking of cryptocurrencies, also known as the crypto coin ranking, is determined by their market capitalization, which is the total value of all coins in circulation.
Altcoins, short for alternative coins, are cryptocurrencies other than Bitcoin, and they make up the remaining 50% of the global market capitalization.
These altcoins can be further categorized into different types, such as proof-of-work, proof-of-stake, and hybrid, each with its own unique characteristics and advantages.
What Are Altcoins?
Altcoins are all about choice. They're an alternative to Bitcoin, which is why they're called altcoins.
The term Altcoin was coined by combining "alternative" and "coin" to form "altcoin". This term refers to all cryptocurrencies that are not Bitcoin.
In other words, if it's not Bitcoin, it's an altcoin. Simple as that.
Cryptocurrency Rankings
Cryptocurrency rankings provide a snapshot of the current state of the market, helping investors and enthusiasts understand which coins are on the rise and which are struggling. You can view rankings by market cap, trading volume, and percentage change for the last 24 hours, 7 days, 30 days, and year to date.
There are 2656 total coins to choose from, but you can narrow down your search by looking at the top 10 coins in each category. The rankings are displayed in real-time, so you can see which coins are performing well right now.
To get a better understanding of a cryptocurrency's value, consider its market cap category: large-cap, mid-cap, or small-cap. Coins with a market capitalization of over $10 billion, like Bitcoin and Ethereum, are considered large-cap and are well-established with strong developer communities.
Top Gainers
In the world of cryptocurrency, some coins are performing way better than others.
The top gainers in the market right now are making some serious waves.
CumRocket CUMMIES is up by a whopping 158.11% in the last 24 hours, with a market cap of $102.42 million.
Department Of Government Efficiency DOGE is also doing well, with a 67.71% increase in the same time frame, and a market cap of $169.65 million.
SquidGrow SQGROW is another coin that's seeing significant growth, with a 46.19% increase in the last 24 hours, and a market cap of $34.02 million.
Kekius Maximus KEKIUS and Shrub SHRUB are also making gains, with 44.66% and 41.96% increases respectively, and market caps of $146.74 million and $40.83 million.
Here are the top gainers in the market right now:
Rankings
Cryptocurrency rankings can be overwhelming, but understanding the basics can help you navigate the space.
The total number of cryptocurrencies is 2656, but you don't need to sift through all of them to find the most interesting ones.
To get started, let's look at the top 10 cryptocurrencies by market cap. These are the largest and most established cryptocurrencies, with market capitalizations over $10 billion.
Here are the categories of market capitalization:
- Large-cap: >$10 billion
- Mid-cap: $1 billion – $10 billion
- Small-cap: <$1 billion
Cryptocurrencies like Bitcoin and Ethereum fall into the large-cap category, with well-established communities of developers and a strong reputation.
However, keep in mind that market capitalization can be volatile and may not always reflect a cryptocurrency's true value.
To get a more accurate picture, consider analyzing other metrics like trading volume, liquidity, and fully diluted valuation.
If you're interested in staking, you can also look at the top cryptocurrencies by real reward rate, such as Ethereum, which has a real reward rate of 4.11%.
But let's get back to the rankings. Here are the top gainers in the past 24 hours, with a market capitalization of over $100 million:
Types of Coins
In the world of cryptocurrency, there are many different types of coins and tokens to choose from. Utility tokens are one type, which can be used to access specific products or services within a particular platform.
Exchange tokens are designed for use on cryptocurrency exchanges, allowing users to trade and manage their digital assets. Payment tokens, on the other hand, are meant for everyday transactions, like buying a cup of coffee.
Security tokens are a type of token that represents ownership in a company or asset, similar to traditional stocks. Stablecoins are designed to maintain a stable value, often pegged to a traditional currency like the US dollar.
DeFi tokens are used in decentralized finance applications, such as lending and borrowing platforms. NFTs, or non-fungible tokens, are unique digital assets that represent ownership in a specific item, like a piece of art or a collectible.
Asset-backed tokens are collateralized by real-world assets, providing a level of security and stability.
Cryptocurrency Market Cap
Crypto market cap is a metric that measures the size and popularity of a cryptocurrency. It's like a report card for coins, showing how well they're doing in the market.
There are three categories of market caps: Large-cap, Mid-cap, and Small-cap. Large-cap cryptocurrencies have a market capitalization of over $10 billion, making them well-established and popular among developers and users.
Cryptocurrencies with large caps, like Bitcoin and Ethereum, are considered to be well-established and have a strong community of developers who maintain and improve them. These coins have a strong following and are often considered to be more stable.
Here's a breakdown of the different market cap categories:
Keep in mind that market cap can be volatile and may not always reflect a cryptocurrency's true value. It's essential to analyze other metrics like trading volume, liquidity, and fully diluted valuation to get a more accurate picture of a coin's worth.
Bitcoin vs Altcoins
Bitcoin and altcoins have distinct characteristics that make them appealing to different investors. Historically, Bitcoin Dominance has been a good indicator of where the market is and where it is heading.
Bitcoin dominance indicates that more capital flows into Bitcoin than any other cryptocurrency. The level of Bitcoin dominance is determined by comparing the overall market capitalization of Bitcoin with the combined market capitalization of all other cryptocurrencies.
In a positive market, if Bitcoin dominance decreases while its price goes up, it means that altcoins are performing better than Bitcoin. Conversely, if Bitcoin dominance increases along with a rise in Bitcoin price, it means that Bitcoin is outperforming altcoins.
Bitcoin vs Altcoins
Bitcoin and altcoins have different characteristics that make them appealing to different types of investors. Historically, Bitcoin dominance has been a good indicator of where the market is and where it is heading.
The level of Bitcoin dominance is determined by comparing its market capitalization to that of altcoins. This can indicate whether altcoins are outperforming Bitcoin or not.
Altseason is a period where non-bitcoin cryptocurrencies outperform BTC, while Bitcoin season is a period where Bitcoin outperforms all altcoins. Knowing these seasons can help you make informed investment decisions.
Investors should be aware of their risk tolerance and do careful research before deciding to invest in Bitcoin or altcoins. It's a good idea to have a mix of Bitcoin and a few selected altcoins in your portfolio.
Bitcoin dominance is the percentage of Bitcoin's market cap compared to that of altcoins. This can indicate whether more capital is flowing into Bitcoin or altcoins.
The Fear of Missing Out (FOMO) can lead to impulsive trades, and panic-selling can cause short-term fluctuations in crypto prices and its dominance.
Coins vs Tokens
Coins are a type of digital currency native to their blockchain, designed to store value and facilitate transactions. For example, Bitcoin's native coin is BTC, and Ethereum's is ETH.
A blockchain can only have one coin, but it can have hundreds of tokens built on top of it. This is why you'll see many tokens like MATIC, LINK, and USDT built on top of the Ethereum blockchain.
Tokens, on the other hand, are not native to a blockchain and are instead built on top of it using smart contracts. They can represent assets like shares in a DAO, digital products, or even physical objects.
Utility tokens, exchange tokens, payment tokens, and security tokens are just a few of the many types of tokens that exist. Each type has its own specific use case and purpose.
Understanding Cryptocurrency
Understanding Cryptocurrency is a complex topic, but it's essential to grasp the basics before diving into the crypto coin ranking.
Cryptocurrencies are decentralized, meaning they're not controlled by any government or institution, and transactions are recorded on a public ledger called a blockchain.
Transactions are made using unique codes called public and private keys, which allow for secure and anonymous transactions.
Cryptocurrencies use a consensus mechanism, such as proof of work or proof of stake, to validate transactions and create new coins.
What Are Stablecoins?
Stablecoins are a type of cryptocurrency with a value pegged to another asset's price, such as the U.S. dollar.
There are different types of stablecoins, each with its own unique characteristics. Fiat-collateralized stablecoins, for example, are backed by fiat currencies like the Euro, GBP, or US dollar.
They are backed 1:1, meaning for every stablecoin, there is an equal amount of currency held in a bank account reserve. Users can exchange their stablecoins for the corresponding amount of fiat currency, which is then transferred to their bank account.
Some examples of fiat-collateralized stablecoins include Tether (USDT), USD Coin (USDC), Gemini Dollar (GUSD), True USD (TUSD), and Paxos Standard (PAX).
Algorithmic stablecoins, on the other hand, rely on algorithms and smart contracts to maintain price stability. This is in contrast to using fiat or cryptocurrency as collateral.
Examples of algorithmic stablecoins include Multi-Collateral Dai (DAI), Frax (FRAX), Magic Internet Money (MIM), and USDD (USDD).
Collateralized stablecoins are backed by another cryptocurrency as collateral, which is done through smart contracts. To obtain these stablecoins, the user locks their cryptocurrency in a smart contract and receives tokens of equal value.
Some examples of collateralized stablecoins include Multi-Collateral Dai (DAI).
Commodity-backed stablecoins, as the name suggests, are collateralized using physical assets like precious metals, oil, gold, or real estate.
Examples of commodity-backed stablecoins include Tether Gold (XAUT) and Paxos Gold (PAXG).
How It Works
Cryptocurrency is a complex and fascinating topic, and understanding how it works is key to grasping its potential.
There are different consensus mechanisms used by cryptocurrencies to validate transactions and add new blocks to the blockchain, with Proof of Stake (PoS) being one of the most popular.
Proof of Stake is a consensus mechanism used by certain cryptocurrencies to validate transactions and add new blocks to the blockchain.
In PoS, users lock up a certain amount of cryptocurrency as their stake, which is the foundation of the process.
The size of the stake and other factors determine which users are chosen to validate transactions and create new blocks.
Validators earn rewards for their contribution to network security, which can be a significant incentive for users to participate.
Here's a simplified breakdown of how staking works:
- Users lock up a certain amount of cryptocurrency as their stake.
- Stakers are chosen to validate transactions and create new blocks based on the size of their stake and other factors.
- Validators earn rewards for their contribution to network security.
Methodology and Tools
Our team of experts uses a rigorous methodology to pick the top cryptocurrencies. We consider a variety of factors, including reputation, trust, and real reward rate.
We chose projects that have been successful in the past, offering positive ROI to investors after adjusting for token inflation. This ensures that readers get a more accurate understanding of the rewards they'll receive.
Inflation can decrease the value of staking rewards, so we took it into account in our rankings. Unlike other guides, we don't just look at nominal reward rates.
Our panel of experts carefully selects projects that have a proven track record of success. This helps investors make informed decisions about their investments.
By considering token inflation, we provide readers with a more accurate picture of the rewards they can expect. This helps them make more informed investment decisions.
Popular Cryptocurrencies
Cryptocurrencies with large market caps, like Bitcoin and Ethereum, are considered well-established and have a strong community of developers. These protocols have a market capitalization of over $10 billion.
Large-cap cryptocurrencies are divided into three categories: large-cap, mid-cap, and small-cap. Large-cap has a market cap of over $10 billion, mid-cap has a market cap of $1 billion to $10 billion, and small-cap has a market cap of under $1 billion.
Here's a brief overview of the market cap categories:
Bnb
BNB is the native cryptocurrency of the Binance exchange, offering a real reward rate of 7.43%. Holding BNB on Binance comes with benefits like an up to 25% discount on spot trading fees.
You can stake BNB on the Binance vault to combine rewards from multiple sources. This feature is a great way to boost your earnings.
In November 2023, Binance faced scrutiny following the arrest of former CEO Changpeng Zhao, which may have implications for the price of BNB. Keep an eye on news developments to stay informed.
Polkadot
Polkadot is a blockchain that enables cross-blockchain transfers of data and assets.
The real reward rate on Polkadot is 6.11%.
You can stake cryptocurrency on Polkadot.js, but you'll need at least 10 DOT to get started.
Alternatively, you can use nomination pools on the Polkadot staking dashboard, where the minimum staking requirement is just 1 DOT.
Algorand
Algorand is a popular cryptocurrency that offers a unique way to earn rewards. You can start earning rewards by simply holding ALGO on a wallet like MyAlgo.
Its consensus mechanism is called pure proof-of-stake (PPoS), which means you don't need to stake ALGO with a validator or a staking pool to get started.
Tezos
Tezos is an open-source blockchain that was launched in 2017. Its native cryptocurrency has a relatively high inflation rate.
You can get started staking Tezos on wallets like Atomic Wallet and Guarda. This is a great option for those looking to earn positive real rewards through staking.
Cardano
Cardano is one of the most popular smart contract blockchains. It offers a relatively low real rewards rate, with a rate of 0.55%. Staking is still a viable option for existing Cardano holders to earn passive income. You can stake Cardano on wallets like Daedalus and Yoroi.
Frequently Asked Questions
What are top 10 crypto coins?
Here is a concise FAQ answer: Our top 10 crypto coins list includes Sei (SEI), Ripple (XRP), JetBolt (JBOLT), Pepe (PEPE), Bonk (BONK), Aave (AAVE), Beam (BEAM), Kaspa (KAS), and two more leading cryptocurrencies. Discover the latest trends and insights about these top-performing coins.
Which is the best crypto coin now?
There isn't a single "best" crypto coin, but top contenders like Ethereum, Solana, and Cardano are showing significant growth and promise for investors in 2024. Consider exploring these leading cryptocurrencies for potential investment opportunities.
What are the top 20 crypto coins?
The top 8 widely recognized cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), BNB (BNB), Binance Coin USD (BUSD), XRP (XRP), and Cardano (ADA). These popular coins are widely traded and recognized in the cryptocurrency market.
Featured Images: pexels.com