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In the crypto scene, market cap is a way to gauge a cryptocurrency’s popularity and potential for growth. Calculated by multiplying the total coins in circulation by the price per coin, this figure helps assess whether a cryptocurrency is a solid choice compared to others in terms of safety and potential returns.
According to Invezz.com, the top 20 cryptocurrencies make up 85.93% percent of the total market.
In a recent analysis, researchers examined the market caps of 2,174 cryptocurrencies listed on CoinMarketCap, revealing that the top 20 tokens command a substantial 85.93% of the total market. It’s worth noting that cryptocurrencies with self-reported market caps were intentionally excluded from the study.
The analysis also unveils that the top 120 cryptocurrencies account for a staggering 93.07% of the total market.
Within this landscape, Bitcoin emerges as the leader, capturing a significant 49.11% of the market share, followed by Ethereum with 16.50%.
These are the top 20 cryptocurrencies ranked by their total value in circulation, known as market capitalization. It’s not a suggestion on what to buy or avoid; rather, it’s a list of the most significant projects by market capitalization. It gives you an overview of the landscape before making decisions about investing in crypto:
Rank | Cryptocurrency | Market cap percentage |
---|---|---|
1 | Bitcoin | 49.11% |
2 | Ethereum | 16.50% |
3 | Tether USDt | 6.00% |
4 | BNB | 2.34% |
5 | XRP | 2.20% |
6 | USDC | 1.66% |
7 | Solana SOL | 1.59% |
8 | Cardano | 0.91% |
9 | Dogecoin | 0.76% |
10 | TRON | 0.63% |
11 | Toncoin | 0.55% |
12 | Chainlink | 0.54% |
13 | Avalanche | 0.50% |
14 | Polygon | 0.47% |
15 | Polkadot | 0.44% |
16 | Wrapped Bitcoin | 0.41% |
17 | Dai | 0.36% |
18 | Litecoin | 0.35% |
19 | Shiba Inu | 0.33% |
20 | Bitcoin Cash | 0.29% |
Market analyst for Invezz, Crispus Nyaga commented on the findings:
Market cap remains a crucial gauge of a cryptocurrency’s relevance, despite being criticized for reflecting long-term popularity rather than immediate value. Large-cap cryptocurrencies, with market caps exceeding $10 billion, are generally viewed as safer investments due to their stability compared to smaller assets. Mid-cap cryptos, while more volatile, offer greater growth potential, while small-cap cryptocurrencies are highly risky but may present short-term growth opportunities with the caveat of sudden crashes.
The post The top 20 cryptocurrencies make up 85.93% percent of the total market appeared first on Invezz
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.