At least 15 cryptocurrencies are valued at over $1 billion including bitcoin and ether
Bitcoin and Ether are two of the most-traded cryptocurrencies in the digital currency market. Eventually, they are two of most valued currency as well with market capitalizations of USD 177 billion and USD 46 billion, respectively.
Despite their dominance, various other cryptocurrencies have soared to astronomic heights in terms of market capitalization. As of Wednesday, at least 15 cryptocurrencies have a valuation over USD 1 billion based on circulating supply, including bitcoin and ether, according to the market analytics portal Coinmarketcap.
Here is the list of cryptocurrencies other than bitcoin and ether which have crossed USD 1 billion in valuation:
1. Bitcoin Cash (M Cap: USD 27 billion)
This cryptocurrency came into existence after a split (technically speaking, hard fork) with Bitcoin in August this year. In the last four months, the market cap has surged to USD 27 billion and the cryptocurrency has seen a growth of 567 percent in its price. On Wednesday, it was trading at an exchange rate of USD 1,602.
2. Ripple (M Cap: USD 11 billion)
Launched by OpenCoin, the Ripple network presents itself as a payment enabler for any kind of currency- digital or real. Similar to Bitcoin, the network also has its own cryptocurrency by the same name. However, this is not mineable (see note at the bottom) like bitcoin or ether.
The growth in its market cap and price is largely recent. In March, the currency was priced at USD 0.0061 and the market cap was USD 230 million. As of November, the currency is trading at an exchange rate of USD 0.28 and the market cap has soared past USD 11 billion, a growth of 4,800 percent.
3. Bitcoin Gold (M Cap: USD 5.3 billion)
Another hard fork from bitcoin, this came into existence in October. Despite that the exchange price has slipped by USD 160, the market cap has soared to USD 5.3 billion in a month.
4. Litecoin (M Cap: USD 5.2 billion)
Developed by an ex-Google employee in 2011, this is similar to bitcoin in technology and operation with few minor differences. It has also seen a great surge in valuation in recent past.
The market cap of the cryptocurrency has grown from 192 million in March to 5.2 billion in November, a 27-fold increase. The exchange price has also rocketed from USD 3.85 to USD 97.75 in the same time period.
5. Dash (M Cap: USD 4.95 billion)
Dash or Digital Cash, released in 2014, has seen a massive growth in its valuation in 2017. The cryptocurrency which opened at USD 11.21 at the beginning of the year was trading at USD 642 on Wednesday. A similar cruise can be seen in its market capitalization which has leapfrogged from mere USD 78 million in January to USD 4.95 billion in November.
6. IOTA (M Cap: USD 4.93 billion)
One of the new entrants in the market, IOTA has made more than an iota of difference (pun intended) in its market valuation since June. The exchange rate has almost tripled to USD 1.51 and the market cap has surged from USD 1.7 billion to USD 4.93 billion.
IOTA is also non-minable cryptocurrency like Ripple.
7. Cardano (M Cap: USD 3.5 billion)
Another new entrant in the market, the cryptocurrency has grown to be valued at USD 3.5 billion in just a couple of month. The exchange price has also peaked to USD 0.13 on Wednesday compared to 0.021 on October 1.
Most of its growth has been registered in the last couple of days during which its valuation has more than quadrupled. This is another non-minable cryptocurrency in the list.
8. Ethereum Classic (M Cap: USD 3.29 billion)
A fork of the Ethereum platform, Ether Classic has grown to a peak of USD 3.29 billion in market capitalization since July last year when it was introduced.
Not unlike other cryptocurrencies, most of its growth has been witnessed in last 4-5 months. Currently, Ether Classic is trading at an exchange rate of USD 33.25 compared to USD 0.75 in July 2016.
9. Monero (M Cap: USD 3 billion)
Since its introduction in 2014, the exchange price of Monero has jumped to USD 195 from USD 2.47 in May 2014. It has also grown exponentially in its market valuation to rise to USD 3.01 billion.
10. NEO (M Cap: USD 2.5 billion)
NEO is another non-mineable cryptocurrency which has seen massive growth lately. In last seven months, the market cap of the cryptocurrency has grown over 15,400 percent. Currently, the valuation stands at USD 2.5 billion compared to USD 16 million in May. Similarly, the exchange price has soared to USD 38.06 to USD 0.33 in May.
Besides these, NEM and Stellar Lumens are other two cryptocurrencies which have crossed the valuation of USD 1 billion on basis of circulating supply. These two are also non-mineable cryptocurrency.
Note: Cryptocurrencies for which all the coins or units have been already generated by the developer or operator are known as non-mineable cryptocurrencies. Such cryptocurrencies enter the market largely via Initial Coin Offerings. They are either purchased by investors or distributed by the operators.