More and more people nowadays are actively giving up keeping their savings under their pillow. Millions of people around the world have started using cryptocurrency to safely store savings, invest, make secure transactions, and much more. Generally speaking, «digital money» is gradually replacing the fiat money we are used to. This is evidenced by figures and statistics because today cryptocurrency circulation is equivalent to 2.8 trillion dollars. Amazing amounts, aren’t they?
Today, even the most distant user from the sphere of cryptocurrency has heard about Bitcoin. Naturally, because it was the blockchain that allowed the crypto industry to jump high up. If ordinary money is printed on machines, then Bitcoins can be «mined» by anyone. It is only necessary to download special software that will start the calculation process. Not everyone knows that there are even hundreds of different cryptocurrencies in the world today. To know them all is an impossible task. That is why, in this article, we tell you about the ten most popular digital assets.
Table of contents
History of the Appearance of Cryptocurrency
Before you learn about the ten most popular cryptocurrencies in the world today, you should read about how mankind came to digital money. The idea of a digital currency has always been around since the 1980s, but cryptocurrency in its modern definition started with Bitcoin in 2009. Original idea of Bitcoin was conceived by Satoshi Nakamoto, who published the technical specifications of Bitcoin in a famous document, the «white paper». Interesting fact – the true identity of Nakamoto is still unknown and never revealed.
This white paper explained a completely new concept of a decentralized digital currency that does not require the intervention of any government or financial institution. This was very different from the conventional understandings and expectations of fiat currencies and catalyzed a revolution in the financial world. Here is what happened next:
- The first 50 bitcoins were mined in early 2009. In the beginning, no one took this project seriously, and many financial experts considered it fraudulent.
- People started showing interest in it as they got to know some of the features that Bitcoin offered.
- The first economically significant transaction was made in 2010 in which a programmer exchanged 10,000 Bitcoins for two pizzas. Laszlo Hanez recently said that he doesn’t wish at all that he spent those 10,000 coins on a delicious lunch. He is glad that he became a part of the history of the crypto industry.
- Bitcoin has been around since 2009, and by the first quarter of 2011, it had reached value equivalent to the US dollar.
- After 2011, altcoins began to appear. This term refers to all of the cryptocurrencies except Bitcoin. The new alternative coins were Namecoin and Litecoin.
Interest from the general public escalated as the market capitalization of the currency neared the value of 1 billion dollars in the first part of 2013. Of course, the road has not been completely straight – Bitcoin has witnessed great volatility since 2013 with prices reaching nearly $20,000 highs and below $3,000 lows at some points in between.
List of Popular Cryptocurrencies in 2024
Many people, when they hear talk of the cryptocurrency sphere, immediately imagine Bitcoin in their minds. Undoubtedly, it is a blockchain that holds about 40% of the total cryptocurrency capitalization market. However, there are many more different crypto projects that are actively developing in the market. We have gathered the 10 most important cryptocurrencies other than Bitcoin in our opinion. This list was chosen based on the popularity of the cryptocurrency, market value, capitalization, security, reliability, and speed of transactions.
1. Ethereum
Ethereum blockchain is always ranked second in various cryptocurrency rankings. This is not surprising, as Ethereum is the closest competitor to the popular Bitcoin. Launched in 2015, Ethereum is a public blockchain technology designed to support self-executing smart contracts and decentralized applications. With the use of Ethereum, developers can design and run applications and contracts on their own without the intervention of other parties.
ETH is one of the largest cryptocurrencies currently in circulation with a market capitalization that surpasses $450 billion and is only secondary to Bitcoin. The new blockchain solutions for developers and the enterprise have driven massive interest in investors and have resulted in 2021 ETH price hikes.
2. Tether
Tether serves as an organization’s stablecoin which is linked or anchored to the U.S. dollar and other fiat currencies. Tether was developed in 2014 with the purpose to offer the fiat money-like stablecoin value along with the reliability of blockchain technology. In particular, Tether (USDT) is among the oldest and most popular stablecoins with a current market capitalization of over 112 billion dollars.
Tether provides a real-world use case to the global crypto trading markets because it offers traders stability and a buffer against volatility typically associated with crypto. Besides being the most used stablecoin, Tether also affords the opportunity for easier conversion of the USD value between exchanges and platforms.
3. XRP
Although this cryptocurrency is not one of the top five coins with the largest market capitalization, XRP definitely deserves your attention. It was established in 2012 with its name Ripple and the symbol XRP is based on an open source protocol and distributed ledger system. Ripple in particular provides individuals with an opportunity to execute cross-border payments in a swift, low-cost and secure manner. More people are investing in XRP because of Ripple’s increasing number of banking institutions. XRP currently trading at $0.50.
4. BNB
It’s time to talk about a coin that was created by the largest exchange of today, Binance. BNB is an exchange token type. Intended for buying fees on Binance and obtaining access to the benefits of the platform, BNB offers its clients from Binance a number of privileges when trading other cryptocurrencies. With Binance’s triumph, BNB’s market capitalization is over $103 billion in 2024. Experts predict that the value of BNB will increase in the future due to the growing number of users on the Binance platform.
5. Solana
Let us mention the most recent cryptocurrency that has gained significant popularity, Solana. This open-source blockchain platform has its own consensus model called «proof-of-stake». Its developers have declared that it can handle over 50000 transactions per second – a far cry from Bitcoin 7 TPS. Solana achieved a 15,000%+ growth during the last years due to widespread adoption in the DeFi and NFT markets.
Notably, it currently has some of the lowest fees in the market, coupled with impressive transaction processing speeds. Actually, this coin is called the killer of Ethereum. Why is that? In general, people say that coins managed to surpass Ethereum in terms of the number of transactions.
6. Dogecoin
Dogecoin is a unique cryptocurrency because it was created as a meme. its rise to fame came when Tesla CEO Elon Musk started to promote it in 2020, which resulted in an increase of more than 18,000% within a year. The only thing that makes it different is the branding which has the help of the dog mascot. Although it originated as a meme, because of its low value per coin, people use it to tip in social media or give some crypto to a friend.
7. Tron
A promising application of blockchain that intends to disrupt the entertainment industry, Tron hosts applications as diverse as gambling, streaming platforms, and social media. Headquartered in Singapore, the Tron Foundation functions as a non-profit organization that seeks to establish the crypto as the backbone of a decentralized web. Tron had fared well following its 2017 ICO, having grown over 2,000% before the 2021 crypto boom flooded platform valuations with high adoption increases.
8. Polygon
As a solution promising to make Ethereum both scalable and extremely useful for any sort of dApp, Polygon is a framework that employs an altered proof-of-stake chain as a sidechain. Polygon (MATIC) crypto provides far more cost-effective and faster settlements on the second layer of the Ethereum network.
The Polygon protocol has already been integrated with many Ethereum apps that involve NFTs, DeFi, and gaming. Polygon and its associated Matic coin can be easily integrated into projects, growing quickly as they are developed and used.
9. Litecoin
As for Litecoin, it was created in 2011 and in fact it is often described as the silver to Bitcoin. Litecoin was established by Charlie Lee and stands on the foundation of the Bitcoin protocol and is among the first generation altcoins. Similar to Bitcoin, it is a decentralized currency system which does not involve the intervention of the banks or the government.
The Litecoin Foundation also has the mandate of promoting the adoption of the Litecoin network and its growth. Litecoin has been applied in various fields such as betting, buying and selling of goods, charity, and even online payments. A number of merchants like eGifter also provide the option of purchasing with Litecoin.
10. USD Coin
Let us introduce you to the latest coin in our list of popular cryptocurrencies other than Bitcoin. USD Coin, which was initiated in 2018 by Circle and Coinbase, is a stable coin since it is backed by the US dollar. This indicates that one USDC is equivalent to one USD, and that all USDCs held in the portfolio are denominated in USD.
USDC is an Ethereum-based token, and the transactions related to this currency occur on the Ethereum network. It has various applications, such as trading, giving loans, or transferring money to another country. USDC is backed by the reputable exchange – Coinbase.
Final Thoughts
Now you know more about popular coins in the crypto industry. Moreover, all of them are available on the Swapzone crypto exchange. Should you make personal investments in such projects? This question cannot be answered in one sentence. Some experts analyze specific cryptocurrencies for entire months to predict the growth or drop in their value. It is considered that such cryptocurrencies have potential success in the near future and can bring income when invested over the long term. However, if you are investing in any digital assets whose price can change drastically, you should always keep in mind the possible risks involved.