- Toshendra Kumar Sharma
- October 03, 2023
Summary
- This article discusses the top 15 cryptocurrencies to invest in based on their market capitalization and real-world use cases.
- Understanding Blockchain technology is crucial for understanding the most popular cryptocurrencies.
- Staying updated on cryptocurrency rankings and prices is essential, and platforms like Coinbase and CoinMarketCap provide real-time data.
- Bitcoin (BTC) is the pioneer cryptocurrency, known for its decentralized nature and peer-to-peer transactions.
- Ethereum (ETH) is the second-largest cryptocurrency, offering smart contracts and decentralized applications (DApps).
- Tether (USDT) is a stablecoin pegged to the U.S. dollar, known for its price stability and high trading volume.
- Binance Coin (BNB) serves as a utility token on the Binance exchange, used for trading fees and various services.
- U.S. Dollar Coin (USDC) is another stablecoin pegged to the U.S. dollar, adopted by payment giants like Visa and Mastercard.
- TRON (TRX) aims to create a content-sharing digital world, with applications like BitTorrent and Samsung support.
- Avalanche (AVAX) uses the Avalanche Consensus for transaction validation and is used for payments, DeFi projects, and decentralized exchanges.
- Polkadot (DOT) connects different blockchains and offers various use cases, including Acala, Moonbeam, and Kusama for testing new features.
- Terra (LUNA) stabilizes stablecoins and is used for mobile payments, especially in South Korea.
- Chainlink (LINK) creates APIs for smart contracts and is utilized in projects like Uniswap, Axie Infinity, and SWIFT's payment system.
- Cardano (ADA) encourages scientific research and development, with use cases in identity management, supply chain tracking, voting systems, and DeFi.
In the Blockchain ecosystem, there are a variety of cryptocurrencies and digital tokens available. As of now, in 2023, there have been more than 22,904 cryptocurrencies in the market, and the number is increasing day by day. However, not all have gained immense popularity and trading volumes like Bitcoin and Ethereum. So you may wonder, what are the top cryptocurrencies?
Cryptocurrency trading is practiced commonly nowadays, but considering cryptocurrency security is crucial. In this article, you will learn about the top 15 cryptocurrencies that can be considered for trading and investment. Also, these cryptocurrencies have the maximum market capitalization and are very common among bankers and investors.
Overview
When talking about cryptocurrencies, new digital tokens are coming each day, and old ones are fading simultaneously. But some coins have made their space in the market and are going to stay. There is a high demand for Blockchain professionals and cryptocurrency expert advisors in the market. Therefore, knowing the top cryptocurrency in detail will give cryptocurrency enthusiasts a kickstart in their Blockchain career.
Understanding crypto and Blockchain technology is necessary when pursuing your career in Blockchain. Also, if you are keen to learn about cryptocurrency trading, you can explore online cryptocurrency certifications and courses on the Blockchain Council.
It is always beneficial to be updated about the new cryptocurrencies that have made up the top cryptocurrencies list. Nevertheless, the list changes from time to time, and it is always recommended to check portals like coinbase and coinmarketcap for the latest cryptocurrency prices and market capitalization.
Bitcoin (BTC)
Overview of Bitcoin
The first one on our list of top cryptocurrencies is Bitcoin. Bitcoin is the very first cryptocurrency that created a market for all digital tokens and provided the concept of Blockchain technology. BTC originated in 2008 as a peer-to-peer digital currency. All the transactions are done through a decentralized network without any third-party dependency.
Current Market Position
As of September 27, 2023, Bitcoin stands as the #1 cryptocurrency in the market with a market capitalization of $510.9 billion. Despite the crypto winter of 2022, this number seems impressive. Further, the current price of Bitcoin is $26,205.68. This indicates that the Bitcoin market is slowly recovering.
Real-Life Use Cases of Bitcoin
The number one in our top cryptocurrencies list has a lot of use cases. Bitcoin is indeed a great investment option. But did you know the plenty of other use cases Bitcoin has? Let’s find them out:
Overstock
Overstock is a prominent name in the online retail market. The company has announced that it will accept Bitcoin payments. This means that you can purchase products on Overstock using Bitcoin.
Microsoft
Microsoft has a long history of welcoming top cryptocurrencies. The tech giant also recognizes the value of Bitcoin. It accepts BTC as payment for its cloud computing services.
Starbucks
Imagine getting your favorite cold brew with top cryptocurrencies. Sounds amazing, right? This is true for BTC. Starbucks allows customers to pay with Bitcoin at selected locations.
PayPal
PayPal is a global payment solution across several countries. And this global payment solution is also adapting the best cryptocurrencies around the world. BTC is no different. With PayPal, you can buy, sell, and hold Bitcoin within their accounts.
El Salvador
If we talk about the top cryptocurrencies in the world, then we can’t miss El Salvador. This country has made history by becoming the world’s first country to adopt Bitcoin as legal tender. This means that when you are in El Salvador, you can use Bitcoin for everyday transactions.
Fold
Fold is a popular debit card-providing app. We all know about credit card rewards points. But Fold offers a Bitcoin reward program on its debit card app. If you are a user from America, then you can earn BTC while using the Fold app.
Ethereum (ETH)
Overview of Ethereum
Next on our list of top cryptocurrencies is Ethereum (ETH). Ethereum is the largest altcoin. It is also the second-largest cryptocurrency by market capitalization. It was created by Vitalik Buterin in 2015. But what brings Ethereum to our list of best crypto assets? Ethereum serves as a multi-purpose Blockchain. Unlike a typical popular cryptocurrency, Ethereum allows you to create decentralized applications (DApps) through smart contracts.
Current State of Ethereum
As the second-best cryptocurrency in the world, Ethereum has shown significant growth over the past few months. Its current price is $1,591.12. This popular cryptocurrency has a market capitalization of $191.3 billion. We can give the ongoing Ethereum 2.0 upgrade the credit to Ethereum’s increasing popularity. The transition to a proof-of-stake consensus mechanism is already done in 2022. Now, the network is preparing for sharding and other major upgrades.
Real-Life Use Cases of Ethereum
As one of the top cryptocurrencies in the world, Ethereum has a lot of real-life use cases. Let’s have a look at some of them:
Uniswap
You must have already heard of Uniswap. It is a decentralized exchange. This means that you don’t need intermediaries to trade the top crypto assets on this platform. Uniswap achieves decentralization by utilizing Ethereum’s smart contract capabilities. With this feature, you can easily swap various top cryptocurrencies directly.
Aave
Aave is another decentralized lending platform on Ethereum. This platform lets users borrow and lend the best cryptocurrencies. And you can do it all in a trustless and transparent manner.
OpenSea
If you are aware of NFTs, then you must have already heard of OpenSea. It is one of the leading NFT marketplaces of today’s time. With the help of Ethereum. OpenSea lets users explore, buy, sell, and trade NFTs.
IBM
IBM has long adapted to the top cryptocurrencies. This tech giant is using Ethereum to create a supply chain management platform. This platform will increase transparency and traceability in the supply chain systems.
Estonia
Estonia is another nation that is adopting the best crypto assets in the world. This country has announced to create a secure voting system using Ethereum. The Estonian government aims to make the system virtually tamper-proof.
Tether (USDT)
Overview of Tether
If we are talking about the top cryptocurrencies, then we can’t miss out on stablecoins. And if we are talking about stablecoins, then Tether (USDT) must come. So, what is a stablecoin? Stablecoins have their values pegged to real-world assets like the U.S. dollar. It means that 1 USDT is equal to 1 U.S. dollar. The absence of volatility makes USDT one of the best crypto assets to invest in.
Current Market Position
Tether (USDT) is the largest stablecoin in the crypto market. Further, it is also the most traded cryptocurrency. Yes, this stablecoin crosses even the top cryptocurrencies with its daily trading volume of $16.74 billion. Tether’s market capitalization currently is $83.22 billion as of September 27, 2023.
Real-Life Use Cases of Tether (USDT)
During the crypto winter of 2022, several top cryptocurrencies saw a market crash. However, USDT is already showing signs of recovery. Here are a few real-life use cases of Tether (USDT):
Crypto Emporium
As we already know, the top crypto assets have already made their entries into the online shopping world. And Tether is no different. Crypto Emporium offers users to buy a wide range of products on the platform using USDT. You can buy anything from electronics to jewelry and even luxury goods.
Travala.com
Do you love traveling? Are you also a crypto enthusiast? Then, you will be happy to know that you can book flights, buses, and hotels using Tether. Wondering how? Travala.com is a travel booking website that will allow you to do it all using USDT.
Bitrefill
Can you think of topping up your mobile phones using the top cryptocurrencies? Now, you can. Bitrefill allows you to top up mobile phones and purchase gift cards using Tether.
Coinsbee
Coinsbee is another platform that you can use with Tether. On this platform, you can buy gift cards from well-known retailers using USDT.
Cloudbet
If you are an online gamer, then you can use Tether for online gaming services as well. Cloudbet is a sports betting and casino website that allows users to use Tether on its platform.
Binance Coin (BNB)
Next on our list of top cryptocurrencies is the Binance Coin (BNB). This popular cryptocurrency asset was introduced by the largest cryptocurrency exchange, Binance. BNB operates as a utility token on the Binance platform. Users can use BNB to pay for trading fees, transaction expenses, and a range of other services.
Current Market Position of Binance Coin (BNB)
As one of the best crypto assets in the world, BNB is widely popular. As of September 27, 2023, it has a market capitalization of $32 billion. This means that the coin has seen over 1,000% from the past year till now.
Real-Life Use Cases of Binance Coin (BNB)
BNB is one of the best crypto assets to invest in. The following real-life use cases make it more attractive:
Crypto.com
Crypto.com is one of the top crypto trading platforms. It also allows crypto lending. You can settle your credit card bills with BNB on this platform.
Shopify Integration
Shopify is a go-to name for businesses around the world. And this platform has shown a positive attitude toward the top cryptocurrencies. As a business, you can use the Binance Pay plugin on your website. This plugin allows users to pay to Shopify merchants with BNB.
Binance Launchpad
If you want to invest in a crypto project, then Binance Launchpad is your right choice. Now, you have to own BNB to participate in Launchpad sales. Binance coin is your ticket to investing in promising crypto projects.
Binance NFT Marketplace
Finally, we must mention the Binance NFT Marketplace. You can use BNB to pay transaction fees when buying, selling, or trading NFTs on this platform.
U.S. Dollar Coin (USDC)
Next on our list of top cryptocurrencies is another stablecoin, USDC. The U.S. Dollar Coin, or USDC, is a stablecoin like USDT or Tether. This means that USDC has its value pegged to one U.S. dollar.
Current Market Position
USD Coin (USDC) is one of the best crypto assets and the second-largest stablecoin by market capitalization. As of September 27, 2023, the coin has a market cap of $25 billion. USDC was one of the popular cryptocurrency coins that suffered during the crypto winter. However, the coin has shown recovery signs in the past few months.
Real-Life Use Cases of USDC
Just like other top cryptocurrencies on our list, USDC has a lot of real-life use cases. Let’s have a look at some of them:
Visa and Mastercard
We all use Visa or Mastercard. But did you know that these payment giants have adopted crypto payments as well? Visa and Mastercard allow merchants to accept payments in this stablecoin.
Circle Pay
Now, you might be wondering if there is a way to send and receive crypto payments as an individual user. The short answer is yes. Circle Pay allows you to send and receive USDC globally for free.
Coinbase Card
Last but not least, we have the Coinbase Card. This card lets you spend your USDC in any place that accepts Visa payments.
XRP (XRP)
XRP is next on our list of top cryptocurrencies. This is often mistaken as the payment protocol Ripple. However, XRP has turned heads for a while as one of the best crypto coins in the market. The main goal of XRP is to improve fast and low-cost cross-border payments.
Current Market Position
As one of the top cryptocurrencies, XRP stands as the fifth-largest cryptocurrency by market capitalization. The coin has a market cap of $26 billion. Despite the crypto winter, XRP has seen positive momentum in the past few months.
Real-Life Use Cases of XRP
XRP is one of the best cryptocurrencies to invest in from the angle of utility. Here are some real-world use cases of XRP:
Santander’s One Pay F.X. App
Santander is one of the world’s largest banks. This bank lets users use XRP on its One Pay F.X. app. You can send money to over 33 countries using XRP.
MoneyGram
We can’t miss out on MoneyGram if we are talking about cross-border payments. MoneyGram uses XRP’s high-speed transaction facility to improve its system.
RippleNet’s Global Network
RippleNet is a global network of financial institutions. This network has some big names in it, including Santander, Bank of America, and HSBC. Participants of this network use XRP for secure cross-border transactions.
Cardano (ADA)
Now, let’s take Cardano (ADA). It is one of the top cryptocurrencies in today’s world. Unlike other best crypto coins that we talked about, Cardano encourages scientific research and a development approach. Cardano was launched in 2017 by Charles Hoskinson. He was one of Ethereum’s co-founders. The platform’s main aim is to allow users to develop smart contracts and decentralized applications (DApps) on a secure platform.
Current Market Position
Cardano (ADA) is one of the largest cryptocurrencies in the world. As of September 27, 2023, it has a market cap of $8.6 billion. It was one of the popular cryptocurrencies to be affected by the 2022 market crash. However, the signs of recovery are vivid now.
Real-Life Use Cases of Cardano (ADA)
Cardano has a lot of real-life use cases that make it one of the top cryptocurrencies in the world. Let’s explore some of its use cases:
Identity Management
Identity management is a burning issue in today’s world. The Ethiopian government announced its plans to use Cardano to create digital identities for five million students. This project will ensure secure identity management.
Supply Chain Management
Cardano is being used in supply chain management as well. The Atala PRISM project uses Cardano to trace the supply chain of Georgian wine.
Voting Systems
The Cardano-based project Aeternity is developing a secure voting system. This system will be used in the 2023 Nigerian elections.
Decentralized Financial Services (DeFi)
Lastly, Cardano is improving DeFi systems as well. SundaeSwap is a DeFi platform that uses Cardano. The platform lets users trade Cardano and other top cryptocurrencies securely.
Dogecoin (DOGE)
Have you ever heard of memecoin? These are crypto coins that started as a joke or meme. The next one on our list of top cryptocurrencies is a memecoin. Dogecoin (DOGE) was started as a joke based on the internet Dog meme. The meme featured Shiba Inu on its logo. As soon as Tesla CEO Elon Musk tweeted about it, DOGE saw new heights as one of the most popular cryptocurrency coins in the world.
Current Market Position
As of September 27, 2023, Dogecoin has a market cap of $8.56 billion. Its total supply crosses 141 billion tokens. It doesn’t have a maximum supply.
Real-Life Use Cases of DOGE
As one of the most popular cryptocurrencies, DOGE has a lot of use cases. Here are a few of them:
Tesla
In January 2022, Tesla announced that it would allow DOGE as a payment method. Elon Musk’s love for this popular cryptocurrency coin was vivid in this move.
AMC Theatres
AMC Theatres is a major player in the cinema industry. In October 2021, the theater announced that it would allow users to use DOGE for online gift card purchases.
AirBaltic
AirBaltic is a Latvian airline. The airline started accepting this popular cryptocurrency coin in January 2022 by accepting flight bookings.
Sheetz
Sheetz is a popular convenience store chain that has adopted top cryptocurrencies. In April, 2022, it started accepting Dogecoin for transactions.
Solana (SOL)
Solana aims to make decentralized finance (DeFi) accessible worldwide. It was launched in March 2020 by the Solana Foundation. Solana improves the scalability with the help of the proof-of-history (PoH) and proof-of-stake (PoS) consensus algorithm.
Current Market Position
As of September 27, 2023, Solana (SOL) has a market cap of $7.96 billion. This makes it one of the top cryptocurrencies in the world. SOL has a total token supply of 500 million SOL tokens.
Real-Life Use Cases of Solana
As one of the top cryptocurrencies in the world, Solana has a wide range of use cases. Let’s have a look at some of them:
Solana Pay
Solana Pay is a payment processor. It allows users to use SOL as a payment method. You can even integrate Solana Pay into e-commerce platforms like Shopify.
DeFi on Solana’s Fast Track
DeFi projects like Raydium and Serum use Solana on their platforms. You can lend, borrow, and trade on these platforms using SOL.
TRON (TRX)
Next on our list of top cryptocurrencies is TRON (TRX). It was founded by Justin Sun in 2017. Now, what makes TRON one of the most popular cryptocurrency coins? The answer lies in its goal. TRON wants to create a digital world where you can share content freely without any middleman. TRON uses a Delegated Proof of Stake (DPoS) consensus mechanism.
Current Market Position
TRON is one of the best cryptocurrencies in today’s world. As of September 17, 2023, it has a market capitalization of $7.5 billion. Moreover, TRON has over 98 million active accounts.
Real-Life Use Cases of TRX
Being one of the top cryptocurrencies, TRON (TRX) has a wide range of use cases. Let’s explore some of them:
BitTorrent
You must have heard of BitTorrent. It is a renowned file-sharing platform. The platform allows users to earn TRX tokens while sharing files.
Samsung
Samsung is a global leader in technology. The tech giant has adopted a number of top cryptocurrencies, and TRX is one of them. You can store TRX and also find support for TRX tokens in its Galaxy smartphones.
JustLend
JustLend is a popular decentralized lending platform. You can lend and borrow here using TRX tokens.
Avalanche (AVAX)
Avalanche is next on our list of top cryptocurrencies. Its native token, AVAX, is one of the most popular cryptocurrency coins, But why? Due to its unique consensus mechanism, Avalanche Consensus. Unlike traditional Proof of Work (PoW) or Proof of Stake (PoS), Avalanche Consensus allows participants to determine the validity of transactions.
Current Market Position
Avalanche (AVAX) is one of the best crypto coins to invest in. This popular cryptocurrency has a market cap of $3.19 billion as of September 17, 2023. The maximum supply is capped at 720 million AVAX.
Real-Life Use Cases of AVAX
As we already discussed, AVAX is one of the top cryptocurrencies in today’s world. So, what makes it so popular? Its use cases. Here are some examples of how you can use AVAX in the real world:
Ava Labs
Ava Labs is the driving force behind Avalanche. The organization is building a range of other financial products and services. And guess what? You can pay for all of them using AVAX.
Trader Joe
Trader Joe’s is a popular decentralized exchange (DEX) platform. You can benefit from it using Avalanche.
Pangolin
Pangolin is another decentralized exchange (DEX). You can use AVAX on this platform as well. This makes AVAX one of the best cryptocurrencies to invest in.
Polkadot (DOT)
Polkadot is a Layer 1 Blockchain platform. It allows different Blockchains to connect and communicate with each other. This is known as interoperability. It is an open-source sharding multichain protocol providing network governance and operations. Dot creates parachain (parallel chains), which means it can do multiple transactions on several chains in parallel, eventually improving the scalability. It uses a unique consensus mechanism called Nominated Proof-of-Stake (NPoS)
Current Market Position
As one of the top cryptocurrencies on our list, Polkadot (DOT) has a market cap of $4.92 billion. The stat is as of September 27. The maximum supply of DOT is capped at 1.36 billion.
Real-Life Use Cases of DOT
We know that DOT is one of the top cryptocurrencies. But are you aware of its real-life use cases? Let’s have a look at them!
Acala
DeFi enthusiasts may already have heard of Acala. It is a decentralized finance (DeFi) platform. It uses Polkadot’s architecture to provide a wide range of DeFi services.
Moonbeam
Moonbeam is a popular smart contract platform on Polkadot. On this platform, you can deploy Solidity smart contracts on the Polkadot network. It uses DOT for all transactions.
Kusama
Kusama can be called Polkadot’s canary network. This means that on this platform you can test new features and upgrades. You can do these tests even before they are deployed on the main Polkadot network.
Polygon (MATIC)
Polygon is an Ethereum-based platform introduced as a layer 2 solution. MATIC token uses the proof of stake consensus algorithm and aims to reduce scaling complexity. All the transactions are executed instantly as the Blockchain is well-structured and easy to use. MATIC tokens can be earned by offering computational resources to the polygon network.
Learn more about Polygon Blockchain technology and MATIC tokens from here.
Current Market Position
Polygon (MATIC) is one of the top cryptocurrencies, with a market cap of $4.76 billion. As of September 27, 2023, the market is soaring. The circulating supply of MATIC is 9.32 billion.
Real-Life Use Cases of MATIC
Caste Certificates
The Indian government has recognized Polygon’s potential. In 2023, it announced to issue verifiable caste certificates using Polygon.
Coinbase’s NFT Marketplace
Coinbase is a known name in the crypto world. It lists all the top cryptocurrencies for exchange. The platform uses Polygon to power its NFT marketplace. You can use the marketplace with TRX and avoid high NFT gas fees.
Animoca Brands
Animoca Brands uses Polygon for its Play-to-Earn (P2E) gaming experiences. You can use TRX for all your gaming experiences. This enhances TRX’s credibility as one of the best crypto tokens to invest in.
Terra (LUNA)
Next, we have Terra (LUNA) in our list of top cryptocurrencies. It is a Blockchain protocol used to stabilize the price of stablecoins and offers wide adoption of fiat currencies. LUNA coin is a utility and governance token for operating collateralizing mechanisms. This secures and backs up the price stability of Terra network’s stablecoin.
Current Market Position
Terra (LUNA) is one of the most popular cryptocurrencies in today’s world. As of September 27, 2023, it has a market cap of approximately $173 million USD. There are around 385 million LUNA tokens in circulation.
Real-Life Use Cases of Terra (LUNA)
As one of the top cryptocurrencies in the world, Terra has a lot of real-world applications. Here are some examples:
Chai
Chai is a popular mobile payment app in South Korea. You can use LUNA on this app to send and receive money.
KwonPay
KwonPay is another popular payment processor in South Korea. It allows merchants to accept payments in TRON. This adoption certainly makes TRON one of the most popular cryptocurrencies in South Korea.
Mirror Protocol
Mirror Protocol might sound like a new concept to many of our users. This protocol allows users to create and trade synthetic assets. So, what’s unique about it? These assets mirror the value of real-world assets like stocks, ETFs, and commodities. And what is the payment mode for this? TRON.
Anchor Protocol
Anchor Protocol is a well-known decentralized lending and borrowing platform. You can earn high yields if you deposit TRX on this platform.
Chainlink (LINK)
If we are talking about the top cryptocurrencies in the world, then we can’t forget Chainlink (LINK). It applies smart contracts to the outside world by creating APIs that are compatible with off-chain-based software.
Current Market Position
Chainlink is one of the best cryptocurrencies to invest in. This popular cryptocurrency has a market cap of $4.1 billion. And due to its various use cases, it is also one of the best cryptocurrencies to invest in
Real-Life Use Cases of Chainlink
As we already mentioned, LINK has a wide range of use cases. This makes it one of the top cryptocurrencies. Let’s have a look at some of them:
Uniswap
If you are using Uniswap, then chances are high that you can earn free LINK tokens. Wondering how? Just provide price feeds and other data to the protocol. And you can earn rewards in LINK.
Axie Infinity
Axie Infinity has long adopted the top cryptocurrencies. And LINK is one of them. This gaming platform uses LINK to pay node operators. All you have to do is to provide random number generation for in-game battles.
SWIFT
SWIFT announced to build a decentralized payment system using Blockchain technology. Now, the platform is using LINK to develop a new product. With this, banks can send money.
Conclusion
We have mentioned the top 15 cryptocurrencies available in the market and are here to stay longer. Having knowledge about these cryptocurrencies will give you a head start on the different types of digital tokens and Blockchain platforms on which they work. Also, you will have a basic idea about cryptocurrency security and apply the learning in your professional career. If you are enthusiastic about learning cryptocurrency in detail, check Blockchain professional courses and certification. You can find a plethora of Blockchain and cryptocurrency certifications and interactive live training at the Blockchain Council.
Frequently Asked Questions
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Binance Coin (BNB)
- U.S. Dollar Coin (USDC)
- TRON (TRX)
- Avalanche (AVAX)
- Polkadot (DOT)
- Terra (LUNA)
- Chainlink (LINK)
- Cardano (ADA)
- Dogecoin (DOGE)
- Solana (SOL)
- XRP (XRP)
- Polygon (MATIC)
- Predicting explosive growth in a specific cryptocurrency is challenging.
- You should keep an eye on emerging projects like Cardano and Polkadot.
- They promise good returns.
- The best cryptocurrencies to invest in include BTC, ETH, SOL, BNB, etc.
- These crypto coins may boom in 2025.
- However the crypto market is highly volatile and market dynamics can change rapidly.
- As of now, Bitcoin (BTC) is the number one crypto.
- It is often called digital gold due to its wide popularity and utility.
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