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Uncovering the 12 most popular Types of Cryptocurrency in 2024
When people discuss cryptocurrencies, Bitcoin often steals the spotlight. However, there are thousands of other digital currencies available. These alternatives to Bitcoin are commonly referred to as “altcoins” or “alternative coins.” While Bitcoin may have been the pioneer of the cryptocurrency market when it launched in 2009, many other digital currencies have gained significant popularity, even if they haven’t reached the same scale as the original.omewhat underwhelming earnings report, alongside new data showing that the U.S. economy grew at a faster pace than anticipated in the last quarter.
Largest Cryptocurrencies by Market Cap
1. Bitcoin (BTC)
- Price: $64,872
- Market Cap: $1.28 trillion
Bitcoin remains the leader in the cryptocurrency world. Created in 2009 by the mysterious Satoshi Nakamoto, Bitcoin set the stage for the entire crypto era. Although it experienced a slow start, Bitcoin gained widespread attention in 2017 and has since been on a roller-coaster journey. In 2024, the SEC approved the trading of ETFs that invest directly in Bitcoin, making it easier for investors to bet on this digital currency.
2. Ethereum (ETH)
- Price: $2,633.98
- Market Cap: $317 billion
Ethereum is often the second name people think of when discussing cryptocurrencies. Unlike Bitcoin, Ethereum is a platform that allows developers to create decentralized applications using smart contracts. Its native currency, ether, is used for various functions within the platform, making Ethereum a versatile and popular choice among crypto enthusiasts.
3. Tether (USDT)
- Price: $1.00
- Market Cap: $119 billion
Tether is a stablecoin, meaning it’s pegged to the value of a specific asset—in this case, the U.S. dollar. This stability makes Tether a convenient medium for traders moving between different cryptocurrencies without converting back to traditional currencies. However, there are concerns regarding whether Tether is fully backed by U.S. dollars held in reserve or if it relies on short-term unsecured debt.
4. BNB (BNB)
- Price: $596.56
- Market Cap: $87 billion
BNB, the native cryptocurrency of the Binance exchange, started as a token for discounted trading fees. Over time, its use has expanded, and it can now be used for payments and to purchase various goods and services, making it an integral part of the Binance ecosystem.
5. Solana (SOL)
- Price: $154.72
- Market Cap: $73 billion
Solana, launched in March 2020, quickly gained attention for its high-speed transactions and robust “web-scale” platform. With a capped supply of 480 million SOL coins, this cryptocurrency aims to provide a more scalable and efficient alternative to other blockchain platforms.
6. USD Coin (USDC)
- Price: $1.00
- Market Cap: $36 billion
Similar to Tether, USD Coin is another stablecoin pegged to the U.S. dollar. The currency’s creators claim that USDC is backed by fully reserved assets or those of “equivalent fair value,” held in accounts with regulated U.S. institutions, providing greater transparency and security.
7. XRP (XRP)
- Price: $0.5914
- Market Cap: $33 billion
Originally known as Ripple, XRP was created in 2012 as a digital payment protocol that facilitates cross-border transactions. XRP is designed to work with real-world currencies and provides a trust-less mechanism to transfer value quickly and efficiently.
8. Dogecoin (DOGE)
- Price: $0.1153
- Market Cap: $16 billion
What started as a joke in 2013, Dogecoin has since grown into a well-known cryptocurrency. Inspired by a Shiba Inu meme, Dogecoin has no cap on its issuance and can be used for payments and money transfers. Its community-driven nature and celebrity endorsements have kept it in the public eye.
9. Toncoin (TON)
- Price: $5.80
- Market Cap: $14 billion
Toncoin, originally developed by the Telegram messaging platform, has found a new life under the TON Foundation. The cryptocurrency gained significant traction in 2023 after Telegram announced plans to integrate a TON-based wallet into its platform, boosting its adoption and value
10. Cardano (ADA)
- Price: $0.3986
- Market Cap: $14 billion
Cardano is the blockchain platform behind the ADA cryptocurrency. Created by one of Ethereum’s co-founders, Cardano also employs smart contracts to facilitate identity management and other use cases, aiming to provide a more secure and scalable solution for decentralized applications.
11. TRON (TRX)
- Price: $0.1526
- Market Cap: $13 billion
TRON, launched in 2017, is a decentralized blockchain platform designed to create and deploy applications. Its native token, TRX, saw a significant boost in attention after the Tron Foundation acquired the popular peer-to-peer network, BitTorrent, in 2018.
12. Avalanche (AVAX)
- Price: $28.88
- Market Cap: $12 billion
Avalanche, a blockchain platform launched in 2020, competes with Ethereum as one of the leading platforms for smart contracts. AVAX, its native token, powers the network and is used for transactions and securing the platform, making it a key player in the decentralized finance space.