Being the first of its kind in history, bitcoin was launched around 15 years ago. Of course, bitcoin and Ethereum lead the way in the crypto market, but there is a lot more to explore, something like thousands more. Most cryptos have small market capitalizations, and the investment is seriously high-risk and highly volatile. The cryptocurrency space is widely speculative and pretty volatile. However, after going through some ups and downs in the space, top cryptocurrencies have been great investment opportunities for long-term, patient investors. There are thousands of them, though. And bitcoin and Ethereum still dominate the space. Their market capitalization accounts for about 74% of the global crypto market, which stands at around $2.51 trillion.
10 Biggest cryptocurrencies in the world
Here are the 10 biggest cryptocurrencies in the world by market capitalization, excluding the stablecoin.
1. BITCOIN- BTC
Currency value-$76,094.68
Market capitalization: $1.5 trillion
Annual growth rate: 106%
Launched in 2009, bitcoin is the most famous and oldest cryptocurrency. Bitcoin was developed by Satoshi Nakamoto, which might be the pseudonym for an individual or a group of people. Its decentralized approach to verifying transactions via blockchains has completely transformed how people perceive digital security and cash. It is among the first decentralized digital currencies with transferable ownership. This coin is mineable with a maximum supply of B21,000,000. However, detractors have expressed various concerns concerning Bitcoin. Its energy-intensive proof-of-work consensus technique may simply require additional network scaling. Many large-scale cryptocurrency initiatives now offer faster transaction speeds than Bitcoin. Other projects, meanwhile, constituted blockchain with unique architecture to improve Bitcoin functionality.
2. Ethereum- ETH
Currency value: $2,938.39
Market capitalization: $353.8 billion
Annual growth rate: 54%
One of the first altcoins, Ethereum, provides another option to Bitcoin. Currently, the second most recognized altcoin was launched in 2015 and has the second market capitalization aside from Bitcoin. The closest composer to Bitcoin is Ethereum and its used token, “Ether”. The network of Ethereum wishes to displace traditional financial services organizations, such as banks and brokerages, by utilizing decentralized applications and developer tools. The native cryptocurrency on the Ethereum network is ether. In 2023, Ethereum migrated. It transitioned to a proof-of-stake transactions system rather than the previous proof-of-work consensus process in 2023. Ethereum is thus more green compared to Bitcoin as an investing option currently.
3. Solana- SOL
Currency value: $202.94
Market capitalization: $95.7 billion
Annual growth rate: 326%
Solana was launched in March 2020. Its network, like Ethereum, features decentralized applications, smart contracts, and non-fungible coins. However, Solana’s hybrid proof of stake and proof of history verification system is faster and cheaper compared to Ethereum. The major setback though has been that the network has only been functional for a while since launching, denting confidence in Solana. In fact, it has experienced various large and small outages since February 2022. For its proponents, bitcoin can be a potential long-term rival of the Ethereum network. However, if Solana is going to be the much-vaunted “Ethereum killer,” then its volatility must be turned upside down.
4. BNB-BNB
Currency value: $598.37
Market capitalization: $86.2 billion
Annual growth rate: 141%
Binance is another giant cryptocurrency exchange having its native coin, known as BNB. The coin was first established on the Ethereum network but later is now stored on Binance’s blockchain. It is used for a myriad of operations and applications. The cryptocurrency even offers users cheaper costs on the Binance platform. Like other cryptocurrency exchanges, Binance has caught the global wind of the regulatory onslaught on crypto in recent years. In 2023, the US Securities and Exchange Commission sued Binance, stating that the company had broken security laws.
5. XRP- XRP
Current value: $0.55
Market cap: $31.4 billion
Annual growth rate: -19%
XRP is the native asset of the Ripple network, currently trading at $0.55, and has a market capitalization of $31.4 billion. For its size presence in cryptocurrency, however, XRP has had a year-over-year, negative return of -19%.
Ripple is the distributed ledger network produced by the company, founded by Ripple Labs in San Francisco. Ripple had been developed to compete with the conventional system of SWIFT (Society for Worldwide Interbank Financial Telecommunication) in banks and financial institutions. The network allows cross-border transactions to be executed quickly and cheaply with total transparency without any national differences. The technology upon which Ripple has been derived is the XRP ledger, that blockchain powerhouse supporting the Ripple network, hence making its transactions safely efficient. Ripple is, however, haunted by the regulatory issues. A 2023 judge ruled that cryptocurrency does not have to be secure. The Securities and Exchange Commission is still suing Ripple for selling XRP to institutional investors. According to them, they may have been doing a thing that subjected them to a penalty valued at $2 billion. This legal battle against Ripple may alter the future XRP market performance.
6.Dogecoin-DOGE
Current value: $0.20
Market capitalization: $29.2 billion
Annual growth rate: 162%
Dogecoin n was created in 2013 as a humorous take on the seriousness that Bitcoin was taken. However, this humorously imitative parody did garner some serious attention from investors. Today, it happens to be one of the most popular meme coins and has several high-profile supporters. One of them has to be Musk, and his enthusiasm showed great implications for Bitcoin’s price volatility. However, this has been somewhat controversial since some investors have accused Musk of intentional price manipulation. The coin was originally founded as a joke; however, it has grown into a community and now has many modes of payment among various companies.
7. Cardano -ADA
Current value: $0.44
Market capitalization: $15.4 billion
Annual growth rate: 18%
Founded by Charles Hoskinson, co-founder of Ethereum, Cardano is a decentralized proof-of-stake blockchain. It came into existence in 2017 and is floated as an attempt to beat the efficiency that classical proofs of work would benefit from. Functionally designed, the network provides support for developing decentralized applications and secure smart contracts, having ADA as its native cryptocurrency, the very backbone of the Cardano ecosystem. ADA supports the execution of dApps, and staking makes participants incentivized as verifiers of transactions, enhancing the strength and decentralization of the network.
8. TRON -TRX
Current value: $0.16
Market capitalization: $14.0 billion
Annual growth rate: 62%
Tron was launched in August 2017 and has been working on the decentralization of the internet. The network has so far scored impressive figures, with more than 229 million accounts as of May 2024. It initially used the Ethereum blockchain and later migrated to its very own blockchain in 2018, using a delegated proof of stake verification system. The fuel for this ecosystem is TRX, which is a native cryptocurrency.
9. Toncoin -TON
Current value: $4.95
Market capitalization: $12.6 billion
Annual growth rate: 102%
In 2018, developers in the Telegram team unfolded the “layer 1” blockchain, known as TON (telegram open network). TON has excellent functionality in smart contracts and excels in comparison with Ethereum in terms of transaction speed and processing times of five seconds. For TON to be competitive with the number of cryptocurrency projects, it still needs to attract a significant number of developers to participate in the ecosystem. Since news has come out on exploring a telegram IPO, the toncoin, native to TON, recently enjoyed significant bullish momentum.
10. Avalanche (AVAX)
Current value: $28.22
Market capitalization: $11.5 billion
Annual growth rate: 107%
Avalanche is a blockchain platform launched back in September of 2020, on the way to being a competitor of the largest one, Ethereum. The primary focus of Avalanches is to become the fastest and most secure blockchain. The smart contract platform by Avalanche accommodates dApps and autonomous blockchains. It has native AVAX enabling functions, such as governance voting and transaction fees, with a capped circulation of 720 million tokens.
Avalanche‘s protocol is distinct, where it gives control over the rate of token creation uniquely in the user’s hands with an adjustment in the inflation rate. The finality of a transaction only takes place when it has obtained a sufficient majority of validators who are on the transactions conducted in the network, thereby making it safer and decentralized. Thus, the high-speed, security, and user-driven governance model places Avalanche in a very competitive position in the blockchain space.
Conclusion
In conclusion, there are thousands of cryptocurrencies you can invest in, and these are the top 10 valued cryptocurrencies in November. The value of cryptocurrencies can vary at any moment. While choosing the cryptocurrency to invest in, it is important to take into account your individual goal, risk profile, and the timeline you want to achieve it. After selecting the crypto that matches your individual needs, conduct thorough research on it before investing. The cryptocurrencies mentioned above are legit and have been in the market for a long time.