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The ten largest cryptocurrencies in 2021

DGAP-News: PAYBIS LTD / Key word (s): Miscellaneous

PAYBIS LTD: The ten largest cryptocurrencies in 2021

08/27/2021 / 10:00
The issuer is responsible for the content of the announcement.

The ten largest cryptocurrencies in 2021

The hype about crypto currencies has been going on for years and there is no end in sight. More and more people wanted to buy Bitcoin or one of the other big cryptos. A real gold rush atmosphere has formed around the most varied of coins. Some hope to multiply their investments, while others appreciate the decentralized and anonymous nature of the virtual currency. The question of the largest currency is a bit redundant, as most of them know that the Bitcoin price and the Bitcoin market capitalization are the highest. But where does Ethereum or the Bitcoin parody Dogecoin end up? The ten largest cryptos are listed below, using market capitalization as a measure.

10th place: Uniswap (UNI)

Hayden Adams’ virtual currency ranks tenth with a market capitalization of $ 17.3 billion. Uniswap was founded in 2018 and the concept behind the currency has become one of the most important hubs in the financial world. The focus here is on decentralized finance, as a network of applications that works without banks or stock exchanges.

9th place: Polkadot (DOT)

With a market capitalization of $ 20.5 billion, Polkadot ranks ninth. The currency, founded in 2017, relies on the widespread blockchain technology. But at Polkadot, several different blockchains are connected to one another, which can then communicate with one another as a network. In the financial world, cryptocurrencies are considered the technology of the future, as this reduces bureaucracy and fees or even eliminates them completely.

8th place: USD Coin (USDC)

The USD Coin never takes eighth place in the ranking with a total market capitalization of 27.9 billion US dollars. The USD Coin is considered to be one of the Stablecoins (German: “Stable Coins”), so it should be less volatile than, for example, the Bitcoin. This stability is created in that this coin is tied to the rate of the US dollar and thus remains stable.

7th place: Dogecoin (DOGE)

The bitcoin parody makes it to seventh place with a market capitalization of $ 33.9 billion. The basis for this crypto currency is the well-known “Doge-Meme”, which you can see on the logo of the coin, which is a dog of the Shiba Inu breed. The main difference to Bitcoin is that Dogecoin uses Scrypt technology, which accelerates transactions, and the number of Dogecoin is unlimited in contrast to Bitcoin.

6th place: XRP – Ripple (XRP)

With a market capitalization of 38 billion US dollars, the cryptocurrency XRP ranks sixth. The crypto currency was created by the payment platform Ripple to offer an alternative to the big crypto currencies. Ripple works with several banks in contrast to Ethereum and Bitcoin.

5th place: Cardano (ADA)

The fifth place in the ranking is occupied by the crypto currency Cardano with a market capitalization of 47.4 US dollars. Cardano’s stated goal is to research the blockchain and solve any problems with blockchain currencies. The first success was achieved in 2020 when Cardano published an update that made the blockchain “50 to 100 times more decentralized”.

4th place: Binance Coin (BNB)

The Binance Coin manages to secure fourth place in the ranking with a market capitalization of 60.1 billion US dollars. This coin was created to support its own cryptocurrency platform, which is intended to support the creation of a sustainable ecosystem. However, there have been some negative headlines lately about licenses and the like.

3rd place: Tether (USDT)

The second stablecoin is in third place. Just like the USD Coin, Tether is tied to the rate of the US dollar. However, there is also a lot of criticism here, as Tether is only published by a company that is considered to be very opaque. Despite all of this, Tether still manages to achieve a market capitalization of 62.6 billion US dollars.

2nd place: Ethereum (ETH)

With a giant leap, Ethereum takes second place with a market capitalization of $ 369.4 billion. Actually, there is not much left to say about this currency and the one that follows. Both rely on the blockchain and were founded primarily as an antithesis to the conventional banking sector.

1st place: Bitcoin (BTC)

And once again the market capitalization rises by leaps and bounds. With a market capitalization of a proud 864.3 billion US dollars, Bitcoin is of course the largest cryptocurrency. This should probably not surprise anyone, but Bitcoin is the most famous crypto currency.

08/27/2021 Publication of a Corporate News / Financial News, transmitted by DGAP – a service of EQS Group AG.
The issuer is responsible for the content of the announcement.

DGAP Distribution Services include regulatory reporting, corporate / financial news, and press releases.
Media archive at http://www.dgap.de

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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