The term “altcoin” refers to all cryptocurrencies that are not Bitcoin (BTC). Because altcoins are an alternative to Bitcoin, they are also considered alternative currencies.
Today, the term altcoin is less ambiguous, though it’s still used in different ways by different people. Altcoins are still often referred to as alternative currencies (which is why we’ll continue using this term), but they can also be called cryptocurrencies and digital tokens. The term “cryptocurrency” is a bit broad—it encompasses everything from fiat-backed digital money issued by a government (like USDT, or Tether) to decentralized digital money that’s backed by a blockchain network (like BTC and ETH).
Yet, for convenience, people often refer to any crypto asset other than Bitcoin as an altcoin.
1. Ethereum (ETH)
Market Value $165 Billion
Ethereum (ETH) is the largest altcoin known nowadays, and it differs from Bitcoin (BTC) in that it’s a platform for running decentralized apps, hosting smart contracts, and using the blockchain to
Ethereum is known for its high transaction fees, but with thousands of apps and other altcoins powered by the platform, it’s unlikely that Ethereum will be going anywhere. Investors can purchase altcoins in crypto exchange and platforms.
2. Binance (BNB)
Market Value $46 Billion
BNB token is a digital currency that can trade for other cryptocurrencies in a brokerage. Investors are able to use BNB to receive discounts on trading fees and make payments via Binance’s blockchain-based payment processing service.
3. XRP (XRP)
Market Value $24 Billion
Ripple Labs is a digital technology company that has developed the Ripple payment protocol, exchange network, and native cryptocurrency known as XRP. The Ripple protocol enables the instant and direct transfer of money between two parties, and it’s unique in that it requires no counterparty, has no fees, and can accommodate any currency type. Recently, the XRP price went to $0.49, up 1.47% from yesterday.
4. Cardano (ADA)
Market Value $14 Billion
Cardano is a new cryptocurrency that has been one of the fastest-growing cryptocurrencies of 2018. The cryptocurrency’s creator, Charles Hoskinson, started working in the blockchain industry when he founded Ethereum with Vitalik Buterin and Joe Lubin in 2013. After leaving Ethereum to start IOHK, he created Cardano and was able to develop it into one of the most well-known and promising cryptocurrencies on the market today. Ada is a cryptocurrency developed by the company Cardano. Just recently, ADA price fell by 0.26% in the last 24 hours.
5. Solana (SOL)
Market Value $12 Billion
Solana is a scalable, secure smart contract platform that runs on a unique hybrid proof-of-stake (PoS) and proof-of-history mechanism. The firm’s proprietary PoS algorithm is designed to be secure and achieve consensus using “the fastest PoS mechanism that can coexist with the current industry of miners,” according to the company.
6. Dogecoin (DOGE)
Market Value $8 Billion
One of the first cryptocurrencies to gain mass adoption from the meme-loving public, Dogecoin has always been more of a grassroots movement than most other coins. It was created in December 2013 by Billy Markus and Jackson Palmer, who intended for it to be mined for fun and not much else.
The coin is based on the popular Doge meme—a picture of a Shiba Inu dog accompanied by an internal monologue in Comic Sans—and was meant to poke fun at the growing cryptocurrency craze and highlight how easy it is to create successful coins with low difficulty and low cost.
7. Polkadot (DOT)
Market Value $7.1 Billion
Polkadot is a new type of blockchain, one that allows for interoperability between blockchains. This would allow for the development of different blockchains that could serve specific purposes and that could all connect to each other through Polkadot.
8. Polygon (MATIC)
Market Value $6.8 Billion
Polygon’s main selling point is its affordable fees, but it also has some other benefits. In addition to saving users money on gas fees, the Polygon platform also enables token swaps between ERC20-based tokens and other cryptocurrencies, allowing for interoperability between blockchain-based systems. This means that users can effectively interact with multiple blockchains at once and exchange currencies with each other in a secure way without having to use middlemen or third-party exchanges like Binance or Coinbase.
9. Shiba Inu (SHIB)
Market Value $6.1 Billion
Dogecoin is a joke coin based on the meme of the same name. Dogecoin was launched in December 2013, and it’s one altcoin that saw its value rise and fall dramatically. It’s a meme-based coin that isn’t likely to be used for any real purpose, but it has an active community of users. In 2014, Dogecoin was valued at around $0.00026 per DOGE, and it shot up to reach a market cap of $60 million by late January 2015.
10. Tron (TRX)
Market Value $5.6 Billion
Tron is a blockchain platform that aims to build a decentralized entertainment ecosystem, which has numerous tools and features to make this possible. When it comes to DeFi, TRX is well-positioned due to its high TVL, or the total value of crypto assets deposited in DeFi protocols. This could indicate that there are many users who are currently using Tron’s native tokens (TRX) as staking collateral, lending loans or participating in other DeFi protocols.