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- Despite the fact that the crypto economy is valued at more than $2.35 trillion, a slew of new cryptocurrencies has just risen to the top 10 in terms of market capitalization
- Bitcoin (BTC) was the most valuable cryptocurrency at the end of August 2019, although its market capitalization was only approximately $181 billion
- Binance coin (BNB) has risen from sixth place that year to fourth place now in terms of crypto market capitalization. Tether (USDT) has progressed from seventh place two years ago to fifth place today
Despite the fact that the crypto economy is valued at more than $2.35 trillion, a slew of new cryptocurrencies has just risen to the top 10 in terms of market capitalization. The top 10 crypto assets by market size looked very different two years ago than they do now, and a lot has happened in the last year.
Since the creation of the crypto asset, bitcoin (BTC) has had the highest market worth of all the currencies in existence, and no other digital currency has ever surpassed it.
We know the crypto industry is worth more than $2.3 trillion, and dominance levels among the 10,000+ coins are shifting. Top 10 movements are occurring, and the top ten crypto-asset value rankings have shifted dramatically over the previous year and the year before.
Bitcoin (BTC) was the most valuable cryptocurrency at the end of August 2019, although its market capitalization was only approximately $181 billion. BTC now has a market capitalization of $929 billion, up 413 percent from August of this year. With a market size of little over $20 billion that same summer, ethereum (ETH) was the second-largest crypto asset by market cap. Today, ETH is valued at about $443 billion, a staggering 2,115 percent growth in just two years.
With a market worth of $11 billion in August 2019, XRP was the third-largest cryptocurrency. Despite a 427 percent gain in market capitalization, XRP now ranks sixth in terms of valuation among the top 10 cryptocurrencies. With a market capitalization of $5 billion in late summer 2019, Bitcoin Cash (BCH) was the fourth biggest cryptocurrency.
It is currently worth $12.4 billion, a 148 percent raise, but BCH is now ranked 15th in terms of market capitalization. Two years ago, Litecoin (LTC) was the fifth-largest market with $4 billion, but it is now in 16th place.
Binance coin (BNB) has risen from sixth place that year to fourth place now in terms of crypto market capitalization. Tether (USDT) has progressed from seventh place two years ago to fifth place today.
Tether continues to remain the most valued stablecoin, as it has been for the past two years. EOS was ranked eighth in 2019 and has since dropped all the way down to the 35th top position in terms of market capitalization. In 2019, Bitcoin SV (BSV) was ranked ninth, and stellar (XLM) was ranked tenth in August of the same year. BSV has dropped to 52nd place in terms of market capitalization, while XLM has risen to 22nd place. BSV had a market worth of $2.3 billion at the time, and it has since increased by 34.78 percent to $3.1 billion. Stellar was valued at $1.4 billion when it went public, but it is now worth $8.5 billion, a rise of 507 percent.
Things were also changed in August 2020. While BTC and ETH ranked first and second, XRP came dangerously near to being surpassed by tether (USDT) that year. In August 2020, XRP was ranked third with a market valuation of $12 billion, while USDT was valued at about $10 billion. BCH, BSV, LTC, and BNB were still in the top 10 at the moment. With a market capitalization of $5.7 billion, Chainlink (LINK) was the fifth-largest company. With a market worth of $13.5 billion, LINK is currently the 12th most valuable cryptocurrency. Crypto.com (CRO) was ranked ninth in August 2020, with market size of $3.5 billion, and is now ranked 43rd with a market cap of $4.1 billion. It’s worth noting that the top 10 coins in 2021 all have market values of moreover $20 billion.
Only five coins had market valuations of moreover $10 billion in August 2020, while only three coins had market caps of more than $10 billion throughout 2019. In the last two years, CRO and BSV have had extremely little growth in market value, whereas other markets have seen considerably bigger rises. Furthermore, in terms of the top 10 cryptos, currencies like dogecoin (DOGE), Solana (SOL), Cardano (ADA), Polkadot (DOT), and USD Coin (USDC) are all newbies. Solana (SOL) has gained more than 19 percent in the last 24 hours and has recently surpassed Dogecoin (DOGE) in terms of market capitalization.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
