The 10 Cryptocurrencies That Dominate The Market In 2024

With over 23,000 crypto projects in circulation and a market valued at $1 trillion, choosing where to start can be overwhelming. Here we show you the 10 digital coins that lead by market capitalization.

What Are Cryptocurrencies?

They are digital assets that operate without the need for centralized banks or governments. Each transaction is recorded on a blockchain ( a network of thousands of computers) and is verified through cryptographic processes to ensure security.

The Top 10

1. Bitcoin (BTC) - Cap: $543.4B Created in 2009 by Satoshi Nakamoto, it is the original cryptocurrency. In May 2016 it cost ~$500; in May 2023 it reached $28,066. Growth: 5,513%

2. Ethereum (ETH) - Cap: $220.4B It's not just a coin, it's a platform for smart contracts and NFTs. From $11 April 2016( to $1,831 )May 2023(. Growth: 16,545%

3. Tether )USDT( - Cap: $81.8B Stablecoin backed by US dollars and euros. Maintains stable value, ideal for avoiding extreme volatility.

4. Binance Coin )BNB( - Cap: $50.6B Originally used to pay fees on Binance, it now serves for transactions, payments, and even travel bookings. From $0.10 )2017( to )$324 May 2023(. Growth: 324,340%

5. USD Coin )USDC( - Cap: $30.4B Another dollar-pegged stablecoin, it operates on Ethereum for global transactions.

6. XRP - Cap: $23.9B Created by the founders of Ripple, it facilitates exchanges between coins. From $0.006 )2017( to $0.46 )May 2023(. Growth: 7,600%

7. Cardano )ADA( - Cap: $13.4B A pioneer in proof-of-stake, it consumes less energy than Bitcoin. From $0.02 )2017( to $0.39 )May 2023(. Growth: 1,826%

8. Dogecoin )DOGE( - Cap: $10.9B Born as a joke in 2013, it became a phenomenon thanks to its community. Unlimited supply. From $0.0002 )2017( to $0.08 )May 2023(. Growth: 39,043%

9. Polygon )MATIC( - Cap: $8.9B Called “Ethereum's blockchain internet”, it supports over 7,000 decentralized applications. From $0.00263 to $0.96. Growth: 36,385%

10. Solana )SOL( - Cap: $8.7B Platform for DeFi and dApps with a hybrid proof-of-stake/proof-of-history mechanism. From $0.77 )2020( to $22.03 )May 2023(. Growth: 2,761%

Key Differences With Stocks

• Hours: Crypto operates 24/7; stocks only during market hours
• Regulation: Actions are regulated; crypto operates in a regulatory gray area.
• Volatility: Both risk money, but crypto is much more speculative.

Taxes And Access

Cryptocurrency gains are taxed as capital gains. You can buy on exchanges like Coinbase, Kraken, or Gemini, or on apps like Robinhood.

Why So Much Variety?

The crypto ecosystem has very low barriers to entry. While Bitcoin dominates ~45% of the total market, Ethereum and Solana act as platforms for others to develop new coins, multiplying the options.