Cryptocurrency is commonly referred to as a digital currency that belongs to blockchain technology. The phrase crypto in cryptocurrency denotes the advanced features of cryptography. Cryptography ensures the security of online transactions through absolute encryption methods and will able to create tokens or coins for taking the blockchain industry one step further. Even though cryptocurrency got it’s mass acceptance, its purely because of the wide demand for bitcoin. Now there are many coins available out in the market. But all the crypto-currencies share a common ideology that is to maintain a high-security protocol as well as decentralized network topology which keeps the movement of the coins.
There is nothing called best cryptocurrency, all the available cryptocurrency are tightly based on the demand of the bitcoin. The main factors affecting the fluctuation in the price of other coins are based on the supply and demand of bitcoin.
When it comes to market, there is a lot of crypto-currencies are available rather than bitcoin. The market gets up and down based on certain factors. Most of the individual cryptocurrencies own their own blockchain, they run their coin to fuel their own blockchain. The market capital and price is purely based on wide acceptance. If the number of people whos are using certain crypto is high, then definitely its price will go up like a rocket ship
According to coin market capital, more than the price, actually market capital matters. All the crypto exchanges out there are ranked cryptocurrencies based on their market capitalization.
The market capital is the product of price and the circulating supply of a cryptocurrency
Market capital = Price * Circulating Supply
And the price and circulating supply are purely based on demand and supply of the particular coin.
Cryptocurrencies to Invest
The ether is the second most desirable cryptocurrency after bitcoin. The market capital of ether is very high compared to other cryptos other than bitcoin. The price of ether varies between $100-$300. The investors who can’t afford bitcoin can choose ether. The record price hit by ether was $1347 in 2018. The total supply of ether is 109,885,527 ETH
The 3rd most demanding cryptocurrency is XRP. The price of the XRP is very low compared to bitcoin and ether, but the market capital is in the third position. Its record price is $3.40 while it always maintains the momentum of price between $0.10 - $0.90. The reason for the sudden boom of XRP is, united states are powering XRP at a higher pace.
The name itself has self-promotion in it. Bitcoin cash holds the 4th position in terms of market capital. The peak price of bitcoin cash is around $3600, but it maintains a constant price between $100-$800.
This cryptocurrency stands in 5th position in terms of market capital. Its price never goes beyond two dollars. Its all-time high value is $1.21.
Its name also starts from bitcoin. So the market has a tendency to uplift those coins whose name is similar to bitcoin. Its price varies between $100-$400. Its stands 6th position in the market rank. Its all-time high value is $441 and all-time low is $36
Litecoin got all lot of followers from the market compared to other cryptocurrencies. Its market value is pretty high and is currently stands at the 7th position. Its the only coin available in the market whose total coin and circulating supply are equal in nature.
Its the one of the highest ICO record holder of the market. The price varies between $2-$10 and its blockchain EOSIO got a lot of developer support. Its all-time high value is $22 and eos was first present in ethereum as a secondary token.
It is released by the famous crypto exchange called Binance where it will be airdropped to clients who use Binance exchange. Its popularity is pretty much well-received compared to top other exchange released coins.
So, the above-described cryptocurrencies are the top ten players of the crypto market. Most of them are truly based on the value of bitcoin. If the price of bitcoin gets higher it affects the entire market stability. Moreover, the other cryptocurrencies are never become a competition to bitcoin. In fact, every other crypto is acted as a parasite for the host called bitcoin.