Wednesday, July 15, 2020

The 10 Most Popular Cryptocurrencies in 2019

Unarguably, Bitcoin is the most popular cryptocurrency in 2019, but then, there are several others out there. As of March 20, there are 2,112 cryptocurrencies warming their respective positions on Coinmarketcap’s platform. With the way the crypto market is growing, a lot more can be expected before the end of the year.

List of Most Popular Cryptocurrencies in 2019

Based on Coinmarketcap’s platform, the most popular cryptocurrencies in 2019 are:

1. Bitcoin (BTC):

Based on active wallet addresses, market capitalization, and daily trading volume, Bitcoin is king. Bitcoin has a market cap of $71 billion which is a significant decline from its all-time high of $326 billion as of December 16, 2017. In 2019, Bitcoin can be used to pay taxes and utility bills. It can also be used to buy cars, houses, food, jewelry, and make several other purchases online.

2. Ethereum (ETH):

Ethereum is the second most popular cryptocurrency and that can be based on its market cap of about $14 billion. The digital currency which is valued at $139 also finds its popularity from being accepted during Initial coin offerings (ICO). Moreover, a lot of tokens are running on the Ethereum blockchain and Ether is used to pay for gas fees.

3. XRP

Ripple’s XRP has found favor from banks since it is used to facilitate cross border payments. Ripple is currently a contender with SWIFT, a global payments network that has been in existence since 1973. That aside, XRP has a value of $0.31 and a market cap of over $13 billion.

4. Litecoin (LTC):

Litecoin comes in fourth with its $3 million market cap and price of about $60. The virtual asset has gain popularity of recent being featured in the UFC boxing event in December and also accepted in a Kickboxing online store. Its developer also intends to use the MimbleWimble protocol for it in order to bring about its scalability, fungibility, and privacy.

5. EOS:

EOS has a market cap of over $3 billion and is priced around $3.71. The
9th CCID (China Electronics and Information Industry Development Research Institute) Global Public Chain Technology Evaluation Index released on January 24 ranked EOS as first. Others like Ethereuem, Ontology, GXchain, and Bitshares, top the first five positions.

6. Bitcoin Cash (BCH):

Bitcoin cash may have split from Bitcoin, but it’s doing well for itself. Priced at about $158 with a market cap of over $2 billion, the currency comes in 6th. Often times, where Bitcoin is accepted, this currency is also being accepted for payment. Instances of this are Wikipedia which receives the asset as donations, a Nightclub in Tokyo, and a marketplace which rewards freelancers with it.

7. Binance Coin (BNB):

Binance coin comes in 7th for its $2 billion market cap which is a significant increment from the $700 million it began the year with. Used to pay transaction fees on Binance, a Malta-based exchange, there has been a high demand for the asset which has influenced its price. Justin Sun, Tron’s CEO also called BNB the new Bitcoin.

8. Stellar (XLM):

Like Ripple, Stellar also facilitates cross border payments. The virtual asset has a market cap of $2 billion and a price of $0.11. It is also worthy to note that McCaleb,
Ripple co-founder launched Stellar in 2014. On the other hand, Grayscale launched a
Stellar Lumens Trust in January.

9. Tether (USDT):

Tether, the first stable coin also makes it top on the list. However, this asset has faced controversial issues in the past of being used by its developers to spike Bitcoin’s price in 2017. Nevertheless, some traders have resorted to moving their holdings to Tether in order to withstand the falling market rates. BTCNN on March 5 informed that USDT has plans to move to the Tron Blockchain.

10. Tron (TRX):

Tron has recently been used on Binance Launchpad to promote some ICOs, however, people had high expectations for this cryptocurrency back in 2017 and they still do. With a market cap of over $1 billion, Tron is priced around $0.02.

These are the 10 most popular cryptocurrencies in 2019. Like Weiss ratings has predicted, other altcoins which have never been heard of will also show an impressive performance to be among the top 10 before the year runs out. Nonetheless, this list is not investment advice on which cryptocurrency you should settle for.

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