When looking for ways to maximize the capital, investors do not overlook digital currencies and for all the right reasons. And to pick the most promising ones, make sure to pay close attention to crypto ratings.
However, keep in mind that since they are compiled based on different criteria, they serve different purposes too. Cryptocurrencies with the highest market capitalization can be considered a reliable asset to invest in. In contrast, the ratings made on the basis of prospect analysis include cryptocurrencies that have a high potential for growth.
In the following overview, we are going to cover five cryptocurrencies with the highest market capitalization, as well as the TOP 5 best digital coins to invest in 2020. This is going to help you decide which one to choose.
Bitcoin is the first and by far the main cryptocurrency that was launched back in 2009. As of the date of writing, its price is $9,373.52 with a market capitalization of $172,732,824,960.
Bitcoin holds on to the top spot in cryptocurrency rating. Decentralized peer-to-peer architecture is what Bitcoin owes its popularity to. Various analysts claim that it will only continue going up in value due to its limited supply (which is 21 million coins). This is also explained by the fact that this digital currency is gradually acquiring the status of a protective asset. Based on one of the recent forecasts, Bitcoin is expected to hit $50,000 in the next few months.
You can track down the changes of the market capitalization of cryptocurrencies, using online ratings. Based on data available on coinmarketcap.com, Vitalik Buterin’s brainchild Ethereum founded in 2015 ranks second as of July 2020.
The coin has no upper limit on its total supply. Ethereum itself is a platform that supports smart contracts and independent decentralized apps.
The stablecoin Tether is ranked the third largest crypto by market cap of $9,185,501,300. This coin is pegged to the U.S. dollar which ensures relative stability of its price. Currently, this token is trading at $0.99.
Tether’s prospects are looking pretty bright due to its nature as a dollar-backed stablecoin.
With a market capitalization of $9,011,156,802, Ripple is in fourth place according to cryptocurrency rating. This is an inexpensive coin which is currently trading at $0.2036. Its demand and popularity are due to the fact that the XRP system is a faster solution to transfer money as compared to traditional Western Union and SWIFT.
The credit card giant American Express announced the implementation of this protocol last year. This, in turn, implies that Ripple has the potential to expand into the financial sector.
With a market cap of $4,464,804,716, this coin is ranked fifth. It was created in 2017 as a fork off the main Bitcoin blockchain and also has a limited supply of 21 million coins.
Bitcoin Cash is notable for a limited block size that is eight times higher than that of Bitcoin.
Now, let’s get to the most promising digital currencies and make up our own crypto rating thereof.
It’s not a very popular but highly promising cryptocurrency with a market cap of $57,345,696. It is currently traded at $0.57. Stratis is a blockchain-based platform which can become a simple and straightforward payment system.
Stratis platform can also be used for enterprise payments. It has a closed source which guarantees transaction safety.
As of the date of writing, the cost of the Monero coin is $67.37 with a market cap of $1,187,418,352. This cryptocurrency is still pretty new. That said, it is already popular because it has nothing to do with the main cryptocurrency. It is based on CryptoNote, which is a privacy protocol designed to protect user data.
Monero is used as a means for payment and can be purchased on cryptocurrency platforms. Check out the rating of cryptocurrency exchanges to choose the ones that suit your needs best.
Dash takes third place in our rating. Its growth prospects are associated with a software update this year. A crypto wallet to store these coins can now be created both on desktop and any mobile gadget.
According to analysts, these updates are expected to help restore the price of DashCoin which is now traded at $72. Its market capitalization as of today is $690,517,515.
This is an inexpensive cryptocurrency worth $1.66. Its capitalization totals $15,294,108. What makes it so attractive is the possibility to create a database that will store various blockchains. Thanks to this feature, information can be streamed over the network.
This coin is popular in China where more than 20 localities have already signed contracts for the use of this system.
Ethereum has also made its way into the list of promising cryptocurrencies. Aside from its leadership in terms of market capitalization (which evidences its reliability), Ethereum has broad application prospects.
Apart from being a means for payment, it also acts as a fuel allowing smart contracts to run. For the time being, this is the only coin that can compete with Bitcoin as far as potential goes.