As of June 2020, the most expensive cryptocurrencies were Bitcoin ($9 307.95), Maker ($512.98) and Compound ($348). BTC outpaces other currencies, and what are the largest digital currencies by market cap? Today we’ll find them out.
Top 3 cryptocurrencies by market capitalization
First, let’s check out CoinMarketCap to find out 3 cryptocurrencies with the largest capitalization. At the time of writing, we can highlight these currencies:
Bitcoin (BTC) — $171 996 203 748
BTC is one of the oldest decentralized currency. It’s the leading digital currency by market capitalization. Bitcoin is widely accepted around the world and has a growing number of applications which support this currency.
Ethereum (ETH) — $25 631 579 487
ETH or Ether is a cryptocurrency designed as a payment method for the Ethereum network. Its main purpose is to facilitate the operating of ‘smart contracts’ without any possibility of downtime, fraud, or third party interference.
Tether (USDT) — $9 210 114 734
Tether was initially backed by equivalent reserves, and now these tokens are fully backed by Tether’s reserves. The idea behind Tether was to create a stable cryptocurrency that can be used like digital dollars, or “stablecoins.” USDT is used as a way to hedge against crypto market volatility due to its stability.
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