Overview of Top Cryptocurrencies as of July 2024
The cryptocurrency market continues to be a dynamic and rapidly evolving space. This article provides an overview of the top 15 cryptocurrencies by market capitalization, highlighting their current prices, market cap, and other key statistics.
1. Bitcoin (BTC)
– Price: $57,647.10
– Change: -2.49%
– Market Cap: $1.14 trillion
– Category: Currency
– Transparency Score: $791.94 billion
– 24h Trading Volume: $26.59 billion
– Transaction Fee: $0.02339212
Bitcoin remains the most valuable and well-known cryptocurrency. It serves as a digital currency and is often referred to as digital gold due to its limited supply and store of value characteristics. Despite a recent dip of 2.49%, Bitcoin maintains a robust market presence with a capitalization exceeding $1 trillion.
2. Ethereum (ETH)
– Price: $3,081.49
– Change: -1.23%
– Market Cap: $370.42 billion
– Category: Smart Contract Platform (Layer 1)
– Transparency Score: $425.99 billion
– 24h Trading Volume: $14.40 billion
– Transaction Fee: $0.03888264
Ethereum is the leading platform for decentralized applications (dApps) and smart contracts. Its market cap is significantly lower than Bitcoin’s, but Ethereum is essential for many blockchain-based innovations.
3. Tether (USDT)
– Price: $1.00
– Change: -0.02%
– Market Cap: $112.80 billion
– Category: Stablecoin (Fiat-Backed)
– Transparency Score: $0
– 24h Trading Volume: $27.99 billion
– Transaction Fee: $0.24811742
Tether is a stablecoin, meaning it is pegged to the value of a fiat currency, in this case, the US Dollar. It provides stability in the otherwise volatile cryptocurrency market, making it a preferred choice for traders to park their funds temporarily.
4. BNB (BNB)
– Price: $525.05
– Change: -0.13%
– Market Cap: $80.78 billion
– Category: Smart Contract Platform (Layer 1)
– Transparency Score: $28.51 billion
– 24h Trading Volume: $806.43 million
– Transaction Fee: $0.00998268
BNB, or Binance Coin, is the native cryptocurrency of the Binance Exchange, one of the largest cryptocurrency exchanges in the world. It is used for trading fee discounts, transaction fees on the Binance Chain, and many other purposes within the Binance ecosystem.
5. Solana (SOL)
– Price: $140.51
– Change: -3.38%
– Market Cap: $65.03 billion
– Category: Smart Contract Platform (Layer 1)
– Transparency Score: $10.87 billion
– 24h Trading Volume: $1.93 billion
– Transaction Fee: $0.02971533
Solana is known for its high-speed and low-cost transactions, making it a popular platform for decentralized finance (DeFi) applications and non-fungible tokens (NFTs). Despite a recent drop of 3.38%, Solana maintains a strong position in the market.
6. USD Coin (USDC)
– Price: $1.00
– Change: 0.04%
– Market Cap: $32.50 billion
– Category: Stablecoin (Fiat-Backed)
– Transparency Score: $0
– 24h Trading Volume: $4.57 billion
– Transaction Fee: $0.14071007
USDC is another stablecoin pegged to the US Dollar, offering stability and transparency. It is widely used in the DeFi ecosystem and for trading pairs across various exchanges.
7. XRP (XRP)
– Price: $0.44038900
– Change: 0.04%
– Market Cap: $24.52 billion
– Category: Currency (BaaS)
– Transparency Score: $3.52 billion
– 24h Trading Volume: $662.28 million
– Transaction Fee: $0.02700499
XRP is designed to facilitate fast and low-cost cross-border payments. It is widely used by financial institutions and continues to be a major player in the cryptocurrency market despite ongoing regulatory challenges.
8. Toncoin (TON)
– Price: $7.12
– Change: -3.96%
– Market Cap: $17.53 billion
– Category: Smart Contract Platform (Layer 1)
– Transparency Score: $0
– 24h Trading Volume: $269.81 million
– Transaction Fee: $0.01539466
Toncoin is part of the Telegram Open Network and focuses on providing a high-performance platform for decentralized applications. It has experienced a significant price drop recently but remains a top contender in the market.
9. Dogecoin (DOGE)
– Price: $0.10772257
– Change: -1.99%
– Market Cap: $15.62 billion
– Category: Currency (Transparent)
– Transparency Score: $22.06 billion
– 24h Trading Volume: $558.32 million
– Transaction Fee: $0.03573302
Initially started as a joke, Dogecoin has gained a large following and substantial market value. It is often used for tipping and charitable donations within the cryptocurrency community.
10. Cardano (ADA)
– Price: $0.39033571
– Change: 1.48%
– Market Cap: $13.84 billion
– Category: Smart Contract Platform (Layer 1)
– Transparency Score: $9.89 billion
– 24h Trading Volume: $277.09 million
– Transaction Fee: $0.02002594
Cardano is known for its scientific approach to blockchain development and its focus on scalability, interoperability, and sustainability. It has seen a recent price increase of 1.48%.
11. Tron (TRX)
– Price: $0.13275288
– Change: 1.03%
– Market Cap: $11.57 billion
– Category: Smart Contract Platform (Layer 1)
– Transparency Score: $0
– 24h Trading Volume: $350.65 million
– Transaction Fee: $0.03029374
Tron aims to create a decentralized internet and has a strong focus on content sharing and entertainment applications. It has shown steady growth and innovation.
12. Avalanche (AVAX)
– Price: $25.45
– Change: -7.21%
– Market Cap: $10.04 billion
– Category: Smart Contract Platform (Layer 1)
– Transparency Score: $11.06 billion
– 24h Trading Volume: $320.40 million
– Transaction Fee: $0.03191646
Avalanche is known for its high throughput and low latency, making it suitable for decentralized applications and enterprise use cases. It has experienced a significant price drop of 7.21% recently.
13. Shiba Inu (SHIB)
– Price: $1.63781e-5
– Change: -2.93%
– Market Cap: $9.65 billion
– Category: Currency (Transparent)
– Transparency Score: $0
– 24h Trading Volume: $175.24 million
– Transaction Fee: $0.01815727
Shiba Inu is another meme coin that has gained popularity and market value. It aims to build an ecosystem that includes decentralized exchanges and NFTs.
14. Wrapped Bitcoin (WBTC)
– Price: $57,780.03
– Change: -2.28%
– Market Cap: $8.84 billion
– Category: –
– Transparency Score: $0
– 24h Trading Volume: $188.73 million
– Transaction Fee: $0.02134547
Wrapped Bitcoin is an ERC-20 token backed 1:1 with Bitcoin, allowing Bitcoin holders to use Ethereum’s decentralized finance (DeFi) ecosystem.
15. Polkadot (DOT)
– Price: $6.08
– Change: -2.95%
– Market Cap: $8.41 billion
– Category: Smart Contract Platform (Layer 0)
– Transparency Score: $0
– 24h Trading Volume: $215.65 million
– Transaction Fee: $0.02565352
Polkadot enables multiple blockchains to transfer messages and value in a trust-free fashion, sharing their unique features while pooling their security. It aims to make a web where our data is our own and isn’t stored on a server owned by an intermediary company.
Conclusion
The cryptocurrency market is characterized by its volatility and rapid changes. The top cryptocurrencies by market capitalization offer a diverse range of functionalities, from digital currencies and stablecoins to smart contract platforms. Each cryptocurrency has unique features and use cases, catering to different aspects of the financial and technological landscapes. As the market evolves, these cryptocurrencies continue to innovate and adapt, shaping the future of finance and technology.
