cryptocurrency have transformed from a mysterious investment into the most important financial asset that has captured the attention of investors around the world. Its rapid growth is accompanied by growing institutional interest, including big names such as Goldman Sachs and JP Morgan.
In 12 months, Bitcoin has exploded, from a trading price of $ 8,166 on March 8, 2020, to a high record over $ 60,000 on March 13, 2021.
Although Bitcoin is one of the most popular and widespread cryptocurrencies, there are currently hundreds of cryptocurrencies worldwide. But a major group of 20 currencies makes up about 99% of the market in terms of volume and market capitalization.
While the cryptocurrencies continued to grow in the first quarter of 2021, the British magazine Financial News put together a list of the ten largest cryptocurrencies by market value in late March.
Cryptocurrency – Bitcoin
Bitcoin was launched in 2009 with the token BTC and is the largest cryptocurrency with a market capitalization of over $ 1.01 billion. It was established as a store of value and as a means to facilitate decentralized transactions.
The cryptocurrency reached an all-time high of more than $ 58,000 in February (and more than $ 60,000 on March 13), surpassing the market value of $ 1 trillion ($ 1,000 billion).
This was the catalyst for increased institutional interest in Bitcoin after Elon Musk announced that electric car maker Tesla had invested $ 1.5 billion in the world’s first cryptocurrency on February 8.
US investment bank Goldman Sachs relaunched the cryptocurrency trading desk and began operations in mid-March.
Ethereum is trading at $ 2,712 today. It is the second-largest cryptocurrency with a total market capitalization of $ 211.2 billion. Ethereum was first proposed in 2013 by developer Vitalik Buterin, and was launched in July 2015, and is based on blockchain technology. It had risen as a record on February 19 to $ 1,958.
Cryptocurrency – Ripple XRP
Ripple XRP, a popular cryptocurrency among banks and other institutions, is trading at $ 1.37 today and has a market capitalization of $ 48 billion. Ripple was created in 2012 by the blockchain company Ripple and works on its blockchain protocol called Ripple.
Jed McCaleb, Ripple’s co-founder, created the open-source blockchain payment system from Stellar in 2014 .. Stellar is trading at $ 0.49047 today and has a market capitalization of $ 44.7 billion.
Tether, called Realcoin initially, was launched in 2014 and is linked to the US dollar, making it one of the first cryptocurrencies linked to the dollar. It is trading at $ 1 today. Digital currency is the largest stable currency – more durable because it is connected to a fiat currency – with a market capitalization of $ 37.6 billion.
Tether is currently under investigation by a New York attorney general because the company of the same name behind the cryptocurrency has not, for periods since mid-2017, had any dollar reserves to support the coins in circulation.
Cryptocurrency – Cardano
Cardano is a public, decentralized blockchain and cryptocurrency project initiated by academics and engineers. The ADA, the digital currency used on the non-profit platform, is trading at $ 1.32 today and its market cap was $ 36.6 billion on March 9.
Launched in 2017 by Sergey Nazarov, it is a code that facilitated contracts that connect to payment systems. It is being traded today at a price that was traded at $ 35.45, and the market value was $ 31.4 billion.
Litecoin, launched in 2011 by former Google and Coinbase engineer Charlie Lee, is a peer-to-peer cryptocurrency. It is trading at $ 254.80, with a market capitalization of $ 13.4 billion on March 9.
Launched by former Facebook engineer Amaury Séchet in 2017, Bitcoin Cash is the largest separation (fork) from Bitcoin in the cryptocurrency market based on market cap. The digital currency is trading at $ 885.44, with a market capitalization of $ 10.2 billion on March 9.
This digital currency, launched in September 2018, is managed by a CENTER consortium, launched by peer-to-peer company Circle, and cryptocurrency exchange platform Coinbase. Their goal, according to their site, is to “provide crypto stability.” It is trading at $ 1 with a market capitalization of $ 9.12 billion on March 9.