In the world of cryptocurrency, Bitcoin is king. It’s been dominating headlines and conversations for years now, and it continues to be a major player in the industry. But there are other cryptocurrencies that have taken off this year as well – so much so that they’ve begun to rival Bitcoin in market capsize. In this blog post, we’ll take a look at the top 10 crypto assets by the percentage of the total market cap.
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- Bitcoin, 33.6% (Stable Coin) – Bitcoin started the year off at the top of the pile with a commanding lead in market cap dominance, but over time its share has dropped significantly. The original cryptocurrency is still at number one on our list, but Ripple came close to catching up recently.
- Ripple, 9.35% – Ripple is an interesting case – while it’s not nearly as well known among common consumers as other crypto assets are, it definitely has had more attention from the enterprise side of things. It bills itself as a blockchain payment solution for large institutions like banks and money transfer organizations – which means that their currency (the XRP) gets used quite often by big businesses looking to save some cash on cross-border transactions.
- IOTA, 7.33% – IOTA has appeared in headlines recently due to controversy around their use of one-time Winternitz signatures instead of the usual Elliptic curve cryptography – but they’re still riding high when it comes to market cap dominance. It may be tied with Ethereum and Dash at 7% or so each, but that doesn’t change the fact that this crypto asset has experienced massive growth in 2017 – not just percentage-wise, either. IOTA started out in 2017 valued at $0.38 per unit and ended up worth over $5 at its peak.
- Dash, 7.31% – Dash is another one of those crypto assets that have to be relatively unknown to the average consumer but popular with the enterprise side of things. It’s a cryptocurrency specifically geared towards use as digital cash, which means it offers much faster transaction speeds than other blockchain currencies do – usually around 4-6 seconds for this particular cryptocurrency. This fast transaction speed makes it ideal for daily or even weekly transactions, which are perfect for business owners looking to cut down on costs.
- Ethereum, 7% (Stable Coin) – Ethereum has been the go-to platform for many blockchain startups to build their businesses on, and it’s also frequently being used by large institutions to help them establish effective means of data storage without needing to rely on third-party databases – which are often expensive or extremely unwieldy.
- Litecoin, 5.78% (Atlcoin) – Litecoin is quite similar to Bitcoin – but faster. It was designed after Bitcoin to be lighter, faster, and more versatile overall. While it has experienced some controversy due to the fact that its creator, Charlie Lee, sold all of his Litecoin holdings (when it was at $50.), its market cap dominance remains high.
- NEM, 3.24% – NEM is another platform for blockchain startups – but instead of focusing on providing faster transaction speeds as Dash does, this crypto asset takes aims at helping businesses develop newer and more advanced financial instruments on top of a secure platform.
- Monero, 2.93% (Token) – This is another cryptocurrency that has gotten a lot of interest from enterprise organizations – in this case, it’s because Monero can be used for anonymous transactions, which makes it quite popular with many companies looking to avoid the risk of identity theft.
- Ethereum Classic, 2.74% – Ethereum Classic actually split off from Ethereum way back when due to infighting over whether or not the hard fork should have taken place. There are obvious differences between these two crypto-assets – ETC doesn’t have smart contracts built-in yet, they don’t plan to change their monetary policy, and they aren’t as versatile as Ethereum.
- Dash, 2.49% – I mentioned earlier that Dash is a cryptocurrency with the aim of becoming digital cash for businesses, and users – it’s also one of the more popular crypto assets at this point in time. It’s been adopted by many different organizations already, including some real estate companies and outdoor lifestyle brands that only accept cryptocurrencies.