Cryptocurrency doesn’t need a lot of introduction, it has become a must-have for many investors and traders. Growing immensely in the last years, opening many possibilities for a ton of people and introducing a different and accessible way to trade, invest, and even play with crypto. Not only that, but it has opened a ton of job opportunities and learning paths for different industries but, what is the most valuable cryptocurrency?
It’s an exciting and new way to exchange or store funds in the hopes of getting back a profit while offering upstanding advantages and benefits when compared to commonly used forms of investment or trading.
Each year the crypto market presents a ton of different environments, projects, and coins covering a handful of different areas and industries. This offers a ton of opportunities, but having so many options usually leads to trading or investing paralysis.
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For beginners the most valuable cryptocurrency is Bitcoin, it’s the most well-known coin and is perfect as an introduction since it’s the main coin, the rest are alt-coins or work in different environments.
The total market cap of the whole crypto market is around $1.05 Trillion and the market cap of Bitcoin is around $500 Billion. This represents that Bitcoin has almost half of the total market cap of the cryptocurrency market, making it the most valuable coin.
But being the crypto market so vast, where is the other half of the cap? Shared among alt-coins of course!
The second most valuable cryptocurrency on the market is Ethereum, despite not being the first altcoin, ETH has gained a lot of popularity. The total market cap of ETH is around $220 Billion, sharing a huge porting of the total market cap.
One of the most interesting things about ETH is its environment, where a ton of projects are launched each month.
The third largest cryptocurrency is Tether USD with a total market cap of $83 Billion, which is known as a stablecoin. These coins are paired or tied 1-1 with normal currencies like the US Dollar, this means the currency valued is (and will always be) $1 USD for $1 USDT.
It’s also the middle-men for traders working in the crypto space like stock traders moving to USD after an operation, crypto traders move the same way to USDT. You will often find a lot of cryptocurrencies paired with USDT for trading, for example, BTC/USDT.
It’s not a surprise that Binance holds a spot among the most valuable cryptocurrency, it’s one of the most popular exchanges around the world with more than 128 million registered users by the end of ‘22.
BNB is the currency used in its environment, with a total market cap of $40 billion. And one of the most interesting aspects of BNB is its environment, it’s super versatile, allowing people to create amazingly popular projects.
But… that’s not it, the rest of the market is shared among other alt-coin and environments.
A good example is Polygon, which has become a popular option for more well-versed investors, which works on an ERC contract (Ethereum blockchain), on the many alt-coin projects you can find different advantages and roadmaps.
As well as projects like Play to Earn, which is a popular way of investing. It ranges from casinos to games where you can play to earn a token and make a profit by investing an initial amount and your time.