How Many Different Cryptos? Right now, there are more than 2,500 recognized cryptos out there and their number is constantly increasing. Still, not all of them are actually used by a large number of people. In fact, most of them have been flying under the radar of most crypto enthusiasts.
As you probably realize, there are only a few cryptocurrencies that are constantly in the spotlight, while the others have trouble catching the eye of the public. The fact that the top 5 cryptos account to almost 90% of the market capitalization of all cryptos shows exactly what we’re talking about.
5 Most Popular Cryptos at the Moment
- Bitcoin (BTC) – Bitcoin is, by, far, the most popular cryptocurrency in the world today. And that’s not a big surprise for those who know the history of digital currencies. More than a decade ago, Bitcoin whitepaper was released, which is considered to be the birth of cryptocurrencies. This means that all the other cryptos came as a result of bitcoin’s success.
- Litecoin (LTC) – Basically a spinoff of Bitcoin, Litecoin was launched in 2011 and has since become one of the most-widely used cryptos. What makes it attractive is that it produces four times more blocks than bitcoin. In turn, this means that Litecoin transactions are faster.
- Ethereum (ETH & ETC) – This cryptocurrency was the brainchild of Vitalik Buterin, a Russian-Canadian programmer who released its whitepaper in 2013, some five years after Bitcoin was born. But, Ethereum didn’t take long to become one of the most popular cryptos in the world. The reasons for that include the fact that it’s more secure than BTC, not to mention that this protocol can be used for other purposes apart from online payments.
- Ripple (XRP) – Currently the 3rd crypto in terms of market capitalization, Ripple is the favorite crypto among banks. In fact, it’s used by such big-name banks as Santander and UniCredit.
- Dogecoin (DOGE) – Even though it started as a joke coin, Dogecoin quickly grabbed the attention of the crypto community, eventually becoming one of the most commonly-used digital currencies in the world.
What about the Others?
A big majority of the cryptos active today make up only 10% of the market value of all cryptocurrencies. In fact, over 800 cryptos have a total market value of less than 20 million dollars. And even more interesting fact is that there are more than 500 cryptocurrencies whose market capitalization is close to zero.
And when it comes to transfers, that is, buying and selling, over a hundred cryptos haven’t been active in the last 24 hours. Of course, this doesn’t have to mean anything. The fact that those cryptos aren’t popular does not reflect their quality. Some of them might be more secure and much faster than Bitcoin and other famous cryptos; the only problem is that no one has heard about them.
But, it seems that time will fix this problem. As days go by, the cryptocurrency world gets bigger and bigger. And as people learn more about this, they start thinking about investing their money in new cryptos, which might not be too famous. This means that in a few years, we can expect some of the currently-unknown cryptos to become as well-known as bitcoin.
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