When people talk about cryptocurrencies, Bitcoin usually makes the news, but there are dozens of different kinds of digital currencies. In actuality, a cryptocurrency that isn’t Bitcoin is typically seen as an “also-ran”; these are known as “altcoins,” or substitutes for Bitcoin.
Although Bitcoin may have been the first significant cryptocurrency to appear on the market, having made its debut in 2009, others have gained significant traction, but not to the same extent as the original.
These are the biggest cryptocurrencies based on their market capitalization, or market cap, which is the total dollar worth of all the coins in circulation. As of January 9, 2025, CoinMarketCap.com provided the data.
Largest cryptocurrencies by market cap
1. Bitcoin (BTC)
- Price: $93,964.55
- Market cap: $1.86 trillion
As the harbinger of the cryptocurrency era, Bitcoin is still the coin people generally reference when they talk about digital currency. Its mysterious creator — allegedly Satoshi Nakamoto — introduced the currency in 2009 and it’s been on a roller-coaster ride since then. However, it wasn’t until 2017 that cryptocurrency broke into broader popular consciousness. In 2024, the Securities and Exchange Commission (SEC) approved the trading of ETFs that invest directly in Bitcoin, giving investors an easy way to bet on Bitcoin.
2. Ethereum (ETH)
- Price: $3,290.25
- Market cap: $396.38 billion
Ethereum — the name for the cryptocurrency platform — is the second name you’re most likely to recognize in the crypto space. The system allows you to use ether (the currency) to perform some functions, but the smart contract aspect of Ethereum helps make it a popular currency.
3. Tether (USDT)
- Price: $1.00
- Market cap: $137.57 billion
Tether’s price is anchored at $1 per coin. That’s because it is what’s called a stablecoin. Stablecoins are tied to the value of a specific asset — in Tether’s case, the U.S. dollar. Tether often acts as a medium when traders move from one cryptocurrency to another. Rather than move back to dollars, they use Tether. However, some people are concerned that Tether isn’t safely backed by dollars held in reserve but instead uses a short-term form of unsecured debt.
4. XRP (XRP)
- Price: $2.33
- Market cap: $133.60 billion
Formerly known as Ripple and created in 2012, XRP offers a way to pay in many different real-world currencies. XRP can be useful in cross-border transactions and uses a trust-less mechanism to facilitate payments.
5. BNB (BNB)
- Price: $694.21
- Market cap: $99.97 billion
BNB is the cryptocurrency issued by Binance, one of the largest crypto exchanges in the world. While created as a token to pay for discounted trades, Binance Coin can now be used for payments, as well as purchasing various goods and services.
6. Solana (SOL)
- Price: $188.17
- Market cap: $91.01 billion
Launched in March 2020, Solana is a newer cryptocurrency and it touts its speed at completing transactions and the overall robustness of its “web-scale” platform. The issuance of the currency, called SOL, is capped at 480 million coins.
7. Dogecoin (DOGE)
- Price: $0.3291
- Market cap: $48.24 billion
Created as a joke after the run-up in Bitcoin, Dogecoin takes its name from an internet meme featuring a Shiba Inu dog. Unlike many digital currencies limiting the number of coins in existence, Dogecoin has unlimited issuance. It can be used for payments or sending money.
8. USD Coin (USDC)
- Price: $1.00
- Market cap: $45.38 billion
Like Tether, USD Coin is a stablecoin pegged to the dollar, meaning that its value should not fluctuate. The currency’s founders say that it’s backed by fully reserved assets or those with “equivalent fair value” and those assets are held in accounts with regulated U.S. institutions.
9. Cardano (ADA)
- Price: $0.9245
- Market cap: $32.49 billion
Cardano is the cryptocurrency platform behind ada, the name of the currency. Created by the co-founder of Ethereum, Cardano also uses smart contracts, enabling identity management.
10. TRON (TRX)
- Price: $0.2442
- Market cap: $21.05 billion
TRON is a decentralized blockchain for creating applications that was established in 2017. Its native token is known as TRX. In 2018, the Tron Foundation acquired the ell-known peer-to-peer network BitTorrent.
11. Avalanche (AVAX)
- Price: $37.01
- Market cap: $15.20 billion
Launched in 2020, Avalanche is a crypto known for its high transaction speeds and low costs. The Avalanche blockchain is also notable for the creation of subnets, which are custom blockchains that have their own rules and use cases, allowing developers to meet different technological needs as they see fit.
12. Sui (SUI)
- Price: $4.80
- Market cap: $14.43 billion
Sui was created by former Meta engineers to enable fast transactions while charging stable fees. It’s also built to handle a large number of transactions at once, which makes it scalable.
Bottom line
The cryptocurrency market is a Wild West, so those speculating on these digital assets should not put in more money than they can afford to lose. It’s also important to note that individual investors often trade against highly sophisticated players, making it a fraught experience for novices.