Introducing the Top 10 cryptocurrencies with the largest market capitalization in the year 2020
The storm of cryptocurrencies has swept the world of financial services. Previously, the question was whether these cryptocurrencies could survive in the market or not, but now the question has been replaced by the evolution of these currencies. The question that has raised the pessimists’ concern about these currencies increasingly with issues such as sharp fluctuations in the financial services industry, decentralization and money laundering potential, and so on.
Top cryptocurrencies based on the amount of capital in the market today
Despite some companies banning these currencies, their rapid growth and widespread acceptance, particularly by companies and institutions such as Facebook, JP Morgan, Microsoft, Shopify, and Tesla, have made today such a strong presence in the financial community.
But which encrypted currencies control the market? Here is a list of top cryptocurrencies based on their market capitalization.
Note that the numbers mentioned in this report may be different from the actual numbers due to high volatility in the market.
Bitcoin ($ 156.52 billion)
Bitcoin is all known as the first encrypted currency that has remained at the top of the market since its emergence in the year 2009. A currency that has essentially eliminated intermediaries and delegated the task of currency transfer to advanced blockchain technology. About three-quarters of all bitcoins have been mined to date, meaning that in the years ahead, the value of this encrypted currency will be more predictable.
Ethereum ($ 17.5 billion)
The currency was introduced to the market later than Bitcoin. Ethereum came into the market in the year 2015 and covers the concept of smart contracts (contracts that allow the user to set certain conditions for the transaction). Ethereum has a wide range of uses and is an attractive option for people looking for more than just financial transactions.
XRP Ripple ($ 9.80 billion)
Ripple is another encrypted currency that has never been seen as a replacement for money and is generally used by more institutions than by individuals. It takes only a few seconds to send Ripple coins from one wallet to another; however, the process used for these transactions is far more focused than competitors because Ripple Labs controls the supply of XRP.
Bitcoin Cash ($ 5.76 billion)
Bitcoin Cash, sometimes known as Bcash, is a derivative of Bitcoin made by Bitcoin miners and developers. Bitcoin Cash is the result of a crack in the Bitcoin blockchain, as a result of which the original Bitcoin remains and Bitcoin Cash is made. Bitcoin cash’s transfer fees are far lower than Bitcoin’s, and its transaction speeds are higher, which is why it is so popular with investors.
Bitcoin SV ($ 5.51 billion)
Bitcoin Satoshi Vision or, in short, Bitcoin SV, is one of the newest players in the field of cryptocurrencies, which has recently been trying to overtake its rival Bitcoin. Bitcoin SV is the result of a crack in the bitcoin blockchain. What the developers of this encrypted currency wanted was to restore the original Bitcoin protocol to continue working under the Bitcoin cash blockchain. The difference between Bitcoin, Bitcoin Cash and Bitcoin Sv is the size of their blocks. Bitcoin cash has increased the block size to 32 MB, while the block size in Bitcoin SV is four times that of 128 MB.
Tether ($ 4.11 billion)
Tether is different from Bitcoin in that respect because it is a stable coin. This means that the encrypted currency is backed by a foreign exchange reserve and its value is kept at a dollar constant. The currency was launched digitally in 2014 to facilitate the use of Fiat currencies (Canadian dollar, Indian rupee, and European euro) and is, in fact, the first blockchain technology platform that enables digital use of traditional currencies.
Litecoin ($ 3.57 billion)
In the year 2011, a hard fork divided bitcoin into two parts: bitcoin and litecoin. The main factors that distinguish litecoin from Bitcoin are the speed of transactions and the reward per block. The transaction speed of litecoin is about four times higher than Bitcoin and offers up to 25 rewards per block compared to Bitcoin at 12.5.
AOS ($ 3.42 billion)
The AOS encrypted currency is launched in the year 2017. The Currency that is designed for peer-to-peer transactions, while other cryptocurrencies are designed for use in the AOS ecosystem, just like Ethereum. The smart contract platform of this currency is designed to handle millions of transactions in a matter of seconds and is the ideal choice for developers looking to design smart contracts or applications.
Binance Coin ($ 2.62 billion)
Binance Coin is a global encrypted currency exchange that supports more than 100 encrypted currencies from around the world and is designed to connect buyers and sellers. The company has been able to purchase Bitcoin, Ethereum, Litecoin, and XRP Ripple through credit and debit cards for the first time since 2019. There is also a free deposit and withdrawal system available to users.
Monero ($ 1.12 billion)
Although the volume of Monero extraction is much slower than its competitor, Bitcoin, its simple extraction algorithm, which is also possible using ordinary computers, has made the currency accessible to a broad user base. One of the most important factors that put this currency on the list of the best-encrypted currencies is its security and privacy capabilities that make the transactions confidential and untraceable. Monero uses cryptography to protect the security of sender and recipient addresses and of course transaction values.
Here we introduced the Top 10 cryptocurrencies with the largest market capitalization in the year 2020. Investing in the cryptocurrency market is very risky and it is advisable to do enough research before buying and selling cryptocurrencies and eventually seek help from a professional and companies providing specialized cryptocurrency services. ExPay 24 can help you with buying, selling and converting cryptocurrencies into one another. Our expert and experienced team offer a variety of currency services in the shortest possible time and with the best quality. Contact us for more information.