Introduction

By KGCool | KGCool | 19 Jun 2021

Cryptocurrency is a digital asset or currency secured by cryptography and used as a medium of exchange. It work under the blockchain technology where transaction are stored in a block and added one after the other as a chain of block and hence the name, blockchain. Unlike fiat currencies, cryptocurrencies are digital form of cash and have no physical existence.

Though cryptograpy was in existence since 1980s, it wasn't until 2009 when the first decentralized cryptocurrency, Bitcoin came into existence that people began to take notice of the digital currencies.Bitcoin is the pioneer cryptocurrency that have withstood the test of time so far.

Number of Cryptocurrencies

According to coinmarketcap.com, more than 10000 cryptocurrencies are being traded publicly today. This shows that cryptocurrencies have come a long way, however, it is still in its infancy and it is here to stay for a long time. Bitcoin, of all cryptocurrencies, is the most popular and important cryptocurreny. Bitcoin, in April 2021, became fastest asset to have a trillion dollar marketcap beating the likes of Apple, Amazon and Microsoft, showing its popularity and acceptance within the market. However, the value has pegged down to $735 billion.

Here are top 10 cryptocurrencies by marketcap :

Cryptocurrency

Marketcap

Bitcoin

$740 billion

Ethereum

$290 billion

Tether (USDT)

$62 billion

Binance coin (BNB)

$55 billion

Cardano