Altcoin has been evolving since 2009. Bitcoin (BTC) was considered an altcoin in the early days of its rise. But, nowadays, there are many other altcoins in use. There are almost 5000+ altcoins across the world. This article will discuss the top 8 altcoins in 2023.
1. Ethereum (ETH):
Ethereum is a distributed computing network where users can run dApps using blockchain technology. It is one of the top altcoins 2023, launched in 2015. It helps users to use digital money without the involvement of banks and payment providers. Using Ethereum, users can build applications with blockchain technology and control them. Ethereum is the best marketplace for social networks, games, financial services, and other applications, as Bitcoin is the only payment network.
The market capitalization of Ethereum is $199 billion.
2. Binance Coin (BNB):
Binance is one of the altcoins in 2023 used to pay trading fees and get discounted trades. Even the user can use BNB outside the Binance crypto exchange for payment. Binance issues BNB in exchange for payment. BNB is issued by Binance exchange with its symbol. It is one of the largest cryptocurrency exchanges, with a good volume of $7.6 billion.
The market capitalization of Binance is $47 billion.
3. XRP:
XRP is an altcoin launched in 2012. Like Ethereum, it has a currency code. It is used for facilitating exchanges of many currency types with payment processing and digital technology company Ripple Labs. Even though there are low transaction fees, XRP has faced legal challenges.
The market capitalization of XRP is $19 billion.
4. Cardano (ADA):
Cardano is one of the altcoins 2023 and was an adopter of a proof-of-stake mechanism to speed up the transaction time. It can also remove various platforms’ energy-intensive and competitive problem-solving dimensions, such as Bitcoin. Cardano is considered a leader in the industry as it provides higher levels of security when compared to its counterparts.
The market capitalization of Cardano is $12 billion.
5. Dogecoin (DOGE):
Dogecoin was founded in 2013 as an original meme coin. It has been evolving as one of the prominent cryptocurrencies in recent years. According to Richard Gardner (CEO of Modulus Global), although having some big backers, Dogecoin remains riskier when compared to Bitcoin. Sometimes, there are fluctuations in Dogecoin to extreme highs and lows depending on the market volatility.
The market capitalization of Dogecoin is $10.6 billion.
6. Polygon (MATC):
Polygon is one of the Ethereum-based scaling platforms that can help allow users to build dApps with lower transaction fees. It is also used for processing transactions with the Ethereum-based network.
The market capitalization of Polygon is $10.5 billion.
7. Solana (SOL):
The main objective behind developing Solana is to power smart contracts and decentralized apps. Solana runs on unique proof-of-history and proof-of-stake mechanisms for processing transactions securely and quickly. It is considered one of the fastest blockchains and is also known to be a highly scalable blockchain solution.
The market capitalization of Solana is $8.3 billion.
8. Polkadot (DOT):
This is an altcoin that can power the complete ecosystem of Polkadot in which users can build specific-purpose blockchains to the main hub. It is a leader in developer activity and has better-shared security.
The market capitalization of Polkadot is $7.3 billion.
Conclusion:
All in all, there are many altcoins for investing on CoinTrade. Before you step into investing, consider all the factors. If you have any queries regarding altcoins, get in touch with CoinTrade.
