Cryptocurrencies that have a huge market cap
The crypto payment tornado is right back on track. Last week, announcements swept the industry by storm declaring a new sheriff in town.
One of the leading players in the car manufacturing industry stated that it is starting to accept Bitcoin as a method of payment for its cars. With one Bitcoin, you can go and get yourself Tesla’s latest Model Y.
Paypal, the Fintech giant, also announced its new crypto checkout system that converts cryptocurrencies to cash thus enabling users to pay for their purchases using a crypto digital wallet.
Visa joined the party by allowing payments through USDC coin. The company will resume its transactions on the Ethereum blockchain through Anchorage digital asset bank in collaboration with Crypto.com.
If you want to know more about crypto payment, make sure to check our article: https://darblockchain.medium.com/the-dawn-rises-for-crypto-payment-7d853cfdeed9
Investors are beginning to gain interest in crypto and are hyped to know what cryptocurrencies to add to their portfolio. If you fit in this category or are even enthusiastic about the subject then you are in the right place.
A brief tour of the coin market cap website is sufficient to introduce you to the big players. You might, as such, be astonished at the whopping market caps of some cryptocurrencies.
In the following, I will introduce the reasons why these cryptocurrencies have a huge market cap.
- BITCOIN :
This one needs no introduction, the father of all cryptocurrencies and the giant taking over the market. With its price nearing $60,000 per unit, BTC is becoming a store of value and a quite secure investment in a rather volatile market. With a market share exceeding 55%, BITCOIN is transitioning into an indicator of how things are going or might go in the crypto industry.
Bitcoin’s Market Capitalization has recently exceeded the $1 Trillion mark and is expected to rise even more as crypto payment is being democratized to the public.
2. ETHEREUM :
Ethereum is the know-it-all nerd of cryptocurrencies, it is the asset of the future as its blockchain holds a variety of digital environments for the new revolutionary digital environments. Ethereum is the place to go for NFT markets that are on the brink of hitting their peak. Ethereum is also the host of all Defi technologies and potential projects.
With a market capitalization of nearly $200 billion and a price of $2000 per unit, Ethereum is a solid investment.
3. ADA :
ADA is the cryptocurrency relative to the famous Cardano. The latter aims to democratize the use of smart contracts through a public blockchain. It has recently been gaining a lot of attraction as the concretization of its goals has been proven in multiple projects.
ADA is still at a relatively low price of $1.258 but holds a market capitalization of $40.4 billion
4. Polkadot :
Surpassing major players on its way to the top of the ladder, Polka’s market is hitting a peak of $39.52 billion. It mainly owes its rise to the craze and hype around DeFi.
Polka offers an alternative to Ethereum in the DeFi market through its parachain method. It basically creates a network of smaller blockchain allowing it to process data more efficiently and enable scalable applications to run more smoothly.
5. Binance Coin :
With a market cap of nearly $60 billion, there’s little reason to wonder as to why Binance Coin is contending for the top spots. Its Binance Smart Chains build strong networks of Blockchain where smart contract application can be created and executed. Its low fees and more importantly its humongous community significantly participate in securing its value making it a rather safe investment.