Is Bitcoin still No.1?
I'm curious about the cryptocurrency rankings. Is Bitcoin still the leader? Is Ethereum the leader of alts? Is it true that Ripple and Solana's rankings have changed?
Let's find out through the charts.
Crypto Ranking
|
Rank |
Cryptocurrency |
Market Capitalization (USD) |
|
1 |
Bitcoin (BTC) |
$2.1 trillion |
|
2 |
Ethereum (ETH) |
$399 billion |
|
3 |
Ripple (XRP) |
$187 billion |
|
4 |
Solana (SOL) |
$85 billion |
|
5 |
Cardano (ADA) |
$70 billion |
|
6 |
Binance Coin (BNB) |
$65 billion |
|
7 |
Dogecoin (DOGE) |
$50 billion |
|
8 |
Polkadot (DOT) |
$45 billion |
|
9 |
Litecoin (LTC) |
$40 billion |
|
10 |
Chainlink (LINK) |
$35 billion |
Why Bitcoin is rising?
First-Mover Advantage:
Bitcoin, created in 2009 by Satoshi Nakamoto, was the first decentralized cryptocurrency. Its early start gave it a significant head start in terms of adoption, recognition, and infrastructure development.
Decentralization:
Bitcoin operates on a decentralized network, meaning no single entity or government controls it. This decentralization is a core principle that appeals to many users who value financial independence and security.
Security:
Bitcoin's blockchain technology is highly secure. It uses cryptographic techniques to ensure the integrity and transparency of transactions. The network's proof-of-work consensus mechanism makes it resistant to attacks and fraud.
Limited Supply:
Bitcoin has a capped supply of 21 million coins. This scarcity is designed to mimic precious metals like gold and helps protect against inflation, making Bitcoin a store of value.
Widespread Acceptance:
Bitcoin is widely accepted by merchants, businesses, and financial institutions around the world. Its acceptance has grown significantly over the years, contributing to its dominance in the cryptocurrency market.
Network Effect:
The more people use Bitcoin, the more valuable it becomes. This network effect has created a strong community of users, developers, and investors who support and promote Bitcoin.
Brand Recognition:
Bitcoin is the most well-known cryptocurrency. Its name is synonymous with the entire crypto market, giving it a level of trust and recognition that other cryptocurrencies struggle to achieve.
Liquidity:
Bitcoin is the most liquid cryptocurrency, meaning it can be easily bought, sold, and exchanged for other currencies or assets. This liquidity makes it a preferred choice for investors and traders.
My Thoughts
There is no coin that can follow Bitcoin!
President Trump will attend the cryptocurrency summit soon.
My prediction is that Bitcoin will surge and continue, Ethereum will rise slightly and then crash, and other coins will not repeat the surge and crash.
