While the crypto economy is worth more than $ 2.35 trillion, there are a ton of new cryptocurrencies that have recently hit the top ten positions in terms of market cap. Two years ago, the top ten crypto assets by market capitalization looked very different than they do today, and a lot has changed in the past 12 months as well.
The top ten crypto assets in August 2019
Since the introduction of the crypto asset, Bitcoin (BTC) has had the highest market valuation of all coins in existence and no other digital currency has ever taken the top position. We know the crypto economy is valued at more than $ 2.3 trillion, and of the 10,000+ cryptocurrencies, the dominance is changing. The top ten shifts are happening, and the top ten crypto asset positions in terms of valuation have changed a lot last year and the year before.
At the end of August 2019, Bitcoin (BTC) held the top position, but only had a market valuation of around $ 181 billion. Today, BTC has an overall market valuation of $ 929 billion, or 413% more than August 2019. That summer, Ethereum (ETH) was the second largest crypto asset by market capitalization at just over $ 20 billion. Today, ETH has an overall valuation of around $ 443 billion, a whopping 2.115% increase in two years.
In August 2019, XRP held the third largest crypto valuation with a market cap of $ 11 billion. Market capitalization is up 427%, but XRP is now the sixth largest position in terms of valuation among the top ten. Bitcoin Cash (BCH) was the fourth largest crypto cap in late summer 2019 with an overall valuation of $ 5 billion. Today it’s $ 12.4 billion, up 148%, but BCH now ranks 15th on the market valuation. Litecoin (LTC) held the fifth largest market two years ago at $ 4 billion, but today LTC ranks 16th.
Binance Coin (BNB) managed to move up from sixth position this year as it holds the fourth largest crypto market valuation today. Tether (USDT) is up from seventh place two years ago and today USDT is fifth. Tether is still the most valuable stablecoin and has been for two years in a row. EOS was still in eighth place in 2019 and today EOS has slipped to 35th place in terms of market capitalization.
Bitcoinsv (BSV) ranked ninth in 2019 and stellar (XLM) ranked tenth in August of the same year. BSV has dropped to 52nd place in terms of market capitalization and XLM is now the 22nd largest crypto asset. BSV had a market capitalization of $ 2.3 billion at the time and has improved slightly (34.78%) to $ 3.1 billion today. Stellar had a market valuation of $ 1.4 billion while today it is $ 8.5 billion, up 507%.
The top ten crypto assets in August 2020
It was different in August 2020. While BTC and ETH rank first and second, XRP was on the verge of being overtaken by Tether (USDT) this year. XRP ranked third with a market cap of $ 12 billion and USDT was around $ 10 billion in August 2020. At this point, BCH, BSV, LTC and BNB remained the top ten contenders. Meanwhile, Chainlink (LINK) held the fifth largest market cap with a valuation of $ 5.7 billion. LINK is now the 12th largest market capitalization of coins at $ 13.5 billion.
Crypto.com (CRO) was ranked ninth with a market cap of $ 3.5 billion in August 2020, and CRO is now 43rd with $ 4.1 billion. It’s interesting to note that all of the top ten -Coins will have a market capitalization of over $ 20 billion in 2021. While only five coins had a market capitalization of over $ 10 billion in August 2020, and only three coins were over $ 10 billion in 2019. The CRO and BSV have seen very small increases in market valuation over the past two years, while other markets have seen much larger gains.
In addition, coins such as Dogecoin (DOGE), Solana (SOL), Cardano (ADA), Polkadot (DOT) and usd Coin (USDC) are newcomers to the top ten cryptos. Solana (SOL) is up more than 19% in 24 hours and recently flipped Dogecoin (DOGE) in terms of market capitalization.
What do you think of the changes in the top ten cryptos over the past two years? Let us know what you think on this matter in the comments below.
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