While Bitcoin often grabs the headlines when discussing cryptocurrencies, thousands of other alternatives exist in these digital currencies. Indeed, cryptocurrencies other than Bitcoin are frequently labeled as ‘also-rans’—known as ‘altcoins,’ serving as substitutes for Bitcoin.
Although Bitcoin launched as the premier cryptocurrency in 2009, numerous others have surged in popularity, even if they haven’t quite reached Bitcoin’s monumental status.
Below are the leading cryptocurrencies ranked by the total dollar value of the coins available, known as market capitalization, or market cap.
Major cryptocurrencies by market cap
1. Bitcoin (BTC)
Price: $99,118.55
Market cap: $1.97 trillion
As the pioneer of the cryptocurrency movement, Bitcoin remains the coin people typically refer to when discussing digital currency. Its enigmatic creator—reportedly Satoshi Nakamoto—debuted the currency in 2009, and it has experienced a tumultuous journey ever since. Nevertheless, it wasn’t until 2017 that cryptocurrency entered widespread public awareness. In 2024, the Securities and Exchange Commission (SEC) permitted the trading of ETFs investing directly in Bitcoin, providing investors with a straightforward avenue to invest in Bitcoin.
2. Ethereum (ETH)
Price: $2,778.75
Market cap: $334 billion
Ethereum—the name of the cryptocurrency platform—ranks as the second cryptocurrency you are likely to recognize in the crypto realm. The system permits you to use ether (the currency) for various functionalities, but the smart contract features of Ethereum significantly enhance its popularity.
3. Tether (USDT)
Price: $1.00
Market cap: $137.57 billion
Tether maintains a price stabilized at $1 per coin. This is because it is classified as a stablecoin. Stablecoins are tied to the value of a specific asset—in Tether’s case, the U.S. dollar. Tether is often utilized as a medium when traders transition between cryptocurrencies. Instead of reverting to dollars, they opt for Tether. However, some critics express concern that Tether lacks adequate backing by dollars in reserve, instead relying on short-term unsecured debt.
4. XRP (XRP)
Price: $2.62
Market cap: $151 billion
Previously known as Ripple and established in 2012, XRP presents a means for payments across various real-world currencies. XRP proves useful for cross-border transactions and employs a trust-less framework to streamline payments.
5. BNB (BNB)
Price: $582.76
Market cap: $83 billion
BNB is the digital currency released by Binance, one of the largest crypto exchanges globally. Initially devised as a token for discounted trading, Binance Coin can now be employed for payments and acquiring assorted goods and services.
6. Solana (SOL)
Price: $217.23
Market cap: $105 billion
Introduced in March 2020, Solana is a newer cryptocurrency that emphasizes its speed in processing transactions and the overall resilience of its “web-scale” platform. The total issuance of the currency, designated SOL, is limited to 480 million coins.
7. Dogecoin (DOGE)
Price: $0.2693
Market cap: $39 billion
Initially created as a parody following Bitcoin’s surge, Dogecoin derives its name from an internet meme featuring a Shiba Inu. In contrast to many digital currencies that have a confined supply, Dogecoin allows for infinite issuance. It can be used for payments or money transfers.
8. USD Coin (USDC)
Price: $0.999
Market cap: $54.38 billion
Similar to Tether, USD Coin functions as a stablecoin pegged to the dollar, ensuring its value remains stable. The currency’s creators assert that it is fully backed by reserved assets or assets with “equivalent fair value” held in accounts with regulated U.S. institutions.
9. Cardano (ADA)
Price: $0.762
Market cap: $26 billion
Cardano serves as the cryptocurrency platform supporting ada, the name of the currency. Established by Ethereum’s co-founder, Cardano also incorporates smart contracts, facilitating identity management.
10. TRON (TRX)
Price: $0.2442
Market cap: $21.05 billion
TRON is a decentralized blockchain designed for application development, founded in 2017. Its native token is referred to as TRX. In 2018, the Tron Foundation acquired the renowned peer-to-peer network BitTorrent.
11. Avalanche (AVAX)
Price: $27.2
Market cap: $11 billion
Launched in 2020, Avalanche is a cryptocurrency recognized for its rapid transaction speeds and minimal costs. The Avalanche blockchain is also distinguished by the creation of subnets—custom blockchains possessing their own rules and applications, granting developers the flexibility to meet diverse technological requirements as needed.
12. Sui (SUI)
Price: $3.71
Market cap: $11.4 billion
Sui was developed by former Meta engineers to enable swift transactions while maintaining stable fees. It is also structured to manage a high volume of transactions simultaneously, making it scalable.
**Data is sourced from CoinMarketCap.com as of 4th Feb 2025
