2017-2018 proved to be a remarkable year for cryptocurrency when the prices skyrocketed and the crypto market started diversifying unprecedentedly. Startups with a variety of blockchain associated products and services launched, investors and traders tremendously accelerated the trading volume, market capitalization plumbed up like never before and the movement of digital financial revolution paced up which is still being continued (with some ups and downs!). Presently, more than 5000 cryptocurrencies are available in the market to invest and trade in the crypto market place with a total market capitalization of more than $200 billion ( As of April 28, 2020). Few of the major cryptocurrencies contribute a major part of the total market cap of crypto markets. Let us find out the best cryptocurrencies by market capitalization in 2020.
What actually market cap or market capitalization means? Market cap is merely a number that reflects the amount of circulating coins and their respective prices in the marketplace. In short, it is one of the ways to find out how valuable a cryptocurrency is! Let us find out the top ten cryptocurrencies in crypto market in 2020.
Satoshi Nakamoto, the pseudonymous creator of cryptocurrency or Bitcoin published a whitepaper “Bitcoin: A peer-to-peer electronic cash system” in 2008 which aimed at revolutionizing the payment system all across the world. So it is easier to guess that BTC till date has maintained its position in the crypto market with the highest market cap and stands among the best cryptocurrencies by market capitalization. Blockchain-based decentralized digital currency, Bitcoin has created an alternative for various cryptocurrencies.
Launched by Vitalik Buterin in 2015, Ethereum stands out as the second most valuable cryptocurrency after Bitcoin. Ethereum is actually a blockchain network facilitating a platform for the development of decentralized apps and smart contracts for better experiences in crypto space. Ether is a native coin of this blockchain which shares a huge market cap and stands out as one of the best cryptocurrencies by market capitalization with BTC due to following reasons:
Ripple launched with the vision to transform the system of International Payment Transfers. With its aim for quick and inexpensive cross border transfers, Ripple was launched in 2012. It shares the major portion of market cap due to:
Crypto.com, is one of the reputed crypto exchanges with a number of features helping to ease out the trading experience and technical analysis of cryptocurrencies. Currently, it established its position in top 10 cryptocurrencies by market capitalization due to following features:
Tether is a stable coin meaning the cryptographic version of the US Dollar. It is one of the advent in the crypto market which somehow rescued itself from the highly volatile market. The uniqueness in the determination of the price of Tether made it popular among the less risk-takers or crypto traders who can't afford much to lose. The value of Tether coin or USDT does not fluctuate with market trends but is backed by the fiat currency of the nation. Each unit of Tether is equal to $1 held in reserve. It is one of the cryptocurrencies which is mainly used to enable trading between other crypto coins with a rate pegged to the US Dollar and allow traders to take advantage of trading opportunities.
Bitcoin Cash was a hard fork of Bitcoin which follows a similar basic principle but with modification to improvise the user’s experience. Some of the major features which are affecting the market cap of Bitcoin Cash and helped to gain one of the top ranks among the best cryptocurrencies by market capitalization are:
Relatively new cryptocurrencies, but the demand is continuously increasing even amid the pandemic of Corona. New addresses are continuously added while coins are purchased in high numbers by crypto investors. Chain Link is a decentralized oracle service which launched its native coin LINK in 2019. Since the beginning of 2020, the market cap of currency has ramped up after MakerDAO, a popular DeFi Platform, proposed to collateralize its stable coin DAI utilizing LINK currency. Along with it, Chain Link offers tamper-proof inputs and outputs for complicated smart contracts on any blockchain. It also allows you to send payments from your contract to bank accounts and payment networks in a relatively smoother way. Thereby stands among the best cryptocurrencies by market capitalization.
Bitcoin SV is also one of the hard forks which aims to increase the block size to ease the transactions. It is not as successful as BTC but it successfully stands among the best cryptocurrencies by market capitalization in 2020. One of the main advantages of Bitcoin SV which attracts many of the investors is that it can handle multiple transactions at a time. High-level security and convenience to miners and institutional investors are the sectors which Bitcoin SV is aiming to achieve.
Litecoin is also one of the forks of Bitcoin which was launched in 2011. LTC with the improvised features of BTC managed to pull up the investments in crypto space and also gained a reputed position amongst the best cryptocurrencies in the crypto market. Current demand is rising up which is pacing up the market capitalization also due to the following features:
As a newbie, you might not have heard about Aion but it is one of the reputed cryptocurrencies in the market and ranks in the top 10 amongst the best cryptocurrencies by market capitalization. Due to multiple features associated with coin, it has attracted a number of new and old investors:
As mentioned in the first paragraph, thousands of cryptocurrencies are available cs You in the market. We list a few of the best cryptocurrencies by market capitalization based on their unique features and projects backed by them. You can consider multiple factors and understand the trends before investing any cryptocurrency.