Bitcoin Is Still The King of Crypto, But For How Long ? – TheStreet

In the world of cryptocurrency, bitcoin is still the Big Kahuna, but things are looking are little shaky.

The currency, which began use in 2009, is the largestcryptocurrency by market capitalization, weighing in at $790.8 billion, according to CoinMarketCap.

However,its market share has dwindled to 37.8% compared with 61% a year ago.

Ethereum, whichwas conceived in 2013 by programmer Vitalik Buterin,came in second with a market cap of$372.3 billion.

Next up is BNB. Launched in 2017 as an ERC-20 token on the ethereum blockchain, BNB has a market cap of$76.4 billon.

Cardana, which wasfounded in 2015 by ethereum co-founder Charles Hoskinson,was the fourth largest by market cap, coming in with$47.9 billion.

Solana was fifth in the crypto market cap hit parade with a$43 billion tally.

Ethereum, solana and cardana and others crypto like polkadot that are catching up with bitcoin because their platforms are used for non-fungible tokens (NFTs), decentralised finance (DeFi) and other use cases.

XRP,a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs, came in sixth with a market cap of$35.7 billion.

Terra ,a public blockchain protocol, was the seventh largest cryptocurrency, with a$27.9 billion total.

Polkadot, an open source, blockchain platform and cryptocurrency that allows for distributed computing, was the eighth largest. The market cap came to $1.4 billion.

Coming up next in ninth place was the meme coin Dogecoin with a market cap of $1.1 billion.

Dogecoin was created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a "joke", making fun of the wild speculation in cryptocurrencies at the time.

And, finally, avalanche came in with the tenth largest crypto by market cap, with $537.2 million.

Avalanche is a high throughput smart contract blockchain platform.It is said to be fast, low cost, and environmental friendly.

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Bitcoin Is Still The King of Crypto, But For How Long ? - TheStreet