Quick Review Of The Top 50 Cryptocurrencies
December 2019 Edition.
In July 2019, I had written an article proposing a top 50 of cryptocurrencies that presented each of them in one or two sentences at most. In my opinion, this made it possible to offer everyone a synthetic overview of the issues adressed by the 50 most capitalized cryptocurrencies on the market. This being essential in a market that at the time had more than 2,300 cryptocurrencies listed on the reference site CoinMarketCap.
Since the publication of this first Top 50, five months have passed and we are now in December 2019. I find it interesting to take another look at the developments within this Top 50 but also which cryptocurrencies have emerged and especially which ones have made it into the Top 50 of the most capitalized cryptocurrencies.
Before starting to roll out the Top 50, the first thing that strikes me is that now the CoinMarketCap site lists more than 4,880 cryptocurrencies.
This figure confirms that the cryptocurrency market is constantly growing, even if many of these new cryptocurrencies have very little future.
The emblematic cryptocurrency, with the largest capitalization and largest user base, usable as an exchange value to buy goods and services or as a store of value. Most performing asset in 2019 by far before S&P 500 or gold.
Previous ranking: 1
The leading platform for companies wishing to build decentralized applications and implement smart contracts via its protocol. The evolutions that will be brought about by the Ethereum 2.0 project should enable the platform to move up a gear in the coming years.
Previous ranking: 2
Ripple wants to replace the SWIFT interbank payment system with its centralized, fast and secure Blockchain.
Previous ranking: 3
The most famous Stablecoin which is the equivalent of one U.S. Dollar and which is used as a fiat currency to trade in cryptocurrencies.
Previous ranking: 8
5. Bitcoin Cash
A Bitcoin hard fork that claims to be faster and cheaper in terms of transaction fees. Stable but unable to convince beyond a few strong defenders.
Previous ranking: 5
Announced as the Bitcoin 2.0, Litecoin is slow to deliver on its promises but remains solid by allowing more transactions to be completed at a lower cost than Bitcoin. Sometimes considered as digital silver in reference to Bitcoin which is called digital gold. Litecoin therefore aims to exist alongside Bitcoin.
Previous Ranking: 4
Third generation blockchain with a platform for smart contracts and dApps that is newer and faster than Ethereum, the leader in this field. Scam or Not Scam ? That is the question for EOS!
Previous ranking: 6
8. Binance Coin
A cryptocurrency created by the Binance trading platform to reduce transaction fees during trading.
Previous ranking: 7
9. Bitcoin SV
Bitcoin SV (Satoshi Vision) is a cryptocurrency created via a hard fork of Bitcoin Cash to increase scalability while reducing transaction fees.
Previous ranking: 9
Platform close to Ripple in spirit but targeting in particular individuals excluded from banking systems for whom Stellar wants to provide banking services at a lower cost. Stellar aims to become the banking system of the future.
Previous ranking: 12
The TRON platform simply aims to decentralize the Web by curing it of its current ills.
Previous ranking: 10
Leader of the Third Generation of Blockchains, Cardano stands out for its innovative layered architecture and for its smart contract platform, which also aims to compete with Ethereum.
Previous ranking: 11
The leading cryptocurrency in the field of confidentiality that offers completely anonymous transactions.
Previous ranking: 14
14. UNUS SED LEO
Answer of the Bitfinex trading platform to the BNB of Binance.
Previous ranking: 13
A platform of decentralized applications and smart contracts to offer the world’s first “self-modifying” cryptocurrency. A challenger of Ethereum.
Previous ranking: 22
ChainLink is a platform aiming to bridge the gap between Blockchain-based smart contracts and real-world uses. In other words, it is a platform that tends to solve interoperability problems between Blockchains.
Previous ranking: 16
Cosmos is a decentralized network of independent, scalable, and interoperable blockchains, creating the foundation for a new token economy. Cosmos aims to become the “Internet of Blockchains”.
Previous ranking: 19
18. Huobi Token
Huobi Token is a decentralized digital asset based on Blockchain Ethereum. it is also the native currency of the Huobi crypto exchange.
Previous ranking: 45
The Chinese Ethereum, as some call it, is a smart contract platform created in Asia.
Previous ranking: 17
IOTA is a decentralized network without transaction fees, leader of the DAG (Directed Acyclic Graph) technology movement with its Tangle. Some announce Tangle as the next generation of Blockchain with nearly infinite scalablity.
Previous ranking: 18
A stablecoin aimed at reducing the volatility between fiat currencies and cryptocurrencies.
Previous ranking: 24
Another Blockchain to preserve the confidentiality of users’ transactions via transactions that can be anonymous. Less advanced than Monero in this field.
Previous ranking: 15
23. USD Coin
USD Coin is a stablecoin fully backed by the U.S. Dollar.
Previous ranking: 32
24. Ethereum Classic
An Ethereum hard fork continuing to validate its transactions through the Proof-of-Work and created following an Ethereum hack that caused the theft of $50 millions.
Previous ranking: 20
VeChain is a blockchain platform designed to enhance supply chain management and business processes. VeChain is already very well established in China.
Previous ranking: 30
Ontology aims to lower the access barriers for companies wishing to join the Blockchain.
Previous ranking: 25
The MINDOL project aims to support the creation of content around anime, cinema, games, manga or music with “Cool Japan” as the unifying theme. Used to reward content creators, the MINDOL token is based on the Ethereum Blockchain.
Previous ranking: N/A
An intelligent Asset Management Blockchain that introduced the Proof-of-Importance (POI) algorithm.
Previous ranking: 21
29. Crypto.com Coin
Crypto.com Coin is an Ethereum token powering Crypto.com Pay, a service that aims accelerating the world’s transition to cryptocurrency.
Previous ranking: 26
Créé en fin d’année 2013 en tant que blague, Dogecoin est une crypto monnaie avec une image du chien Shiba Inu comme logo. En 2019, Dogecoin dispose toujours d’une communauté fervente et d’une image sympathique. Dogecoin est une monnaie déflationniste utilisée principalement pour faire des dons récompensant des créateurs de contenus.
Previous ranking: 28
31. Basic Attention Token
Through its privacy-friendly Brave Browser, the Basic Attention Token project proposes the implementation of a new innovative model between publishers, advertisers and users in order to reward them for consuming advertising content. Basic Attention Token promotes an open Web vision.
Previous ranking: 31
32. Paxos Standard
Paxos Standard aims to meld the stability of the U.S. Dollar with Blockchain technology. Paxos Standard is a stablecoin allowing users to exchange their U.S. Dollars for Paxos Standard Tokens to make exchanges at the speed of Internet.
Previous ranking: 59
The third largest player in the field of high-privacy cryptocurrencies, which is making great progress on its technology and is supported on Coinbase.
Previous ranking: 23
An autonomous and decentralized digital currency that allows its users to collaborate to decide on its future.
Previous ranking: 35
HedgeTrade is a platform letting world’s best traders sharing their knowledge via smart contracts.
Previous ranking: 44
A combination of Bitcoin and Ethereum used to create decentralized mobile applications.
Previous ranking: 29
37. Synthetix Network Token
TrueUSD is an ERC20 token whose price will be pegged with U.S. Dollar. A stablecoin competing with Tether claiming a total transparency.
Previous ranking: 39
0x is an open protocol enabling Peer-to-Peer exchanges of assets on the Ethereum Blockchain. Assets can be gaming items, financial instruments or assets that could have never existed before.
Previous ranking: 51
Centrality aims to create a marketplace for decentralized applications. It uses the CENNZ token which is an ERC20 token running on the Ethereum Blockchain.
Previous ranking: 171
Holo wants to build a distributed cloud managed by its users in order to create a true P2P Internet.
Previous ranking: 37
Algorand is a Blockchain project aiming to create a transparent system in which everyone can achieve success through decentralized projects and applications.
Previous ranking: N/A
Augur is a decentralized prediction market platform built on the Blockchain Ethereum.
Previous ranking: 57
Nano is a digital money for the modern world. Its Blockchain is really powerful allowing fee-less and instant transactions. Its technology has nearly infinite scalability.
Previous ranking: 53
Ravencoin is an open source Blockchain specialized in the creation and P2P transfer of assets.
Previous ranking: 42
46. Bitcoin Gold
Another fork of the Bitcoin aimed at lowering entry barriers for miners using GPU-based equipment.
Previous ranking: 27
Built on the Blockchain Ethereum with the mission of allowing users to disengage from banks.
Previous ranking: 33
Seele is a cryptocurrency token operating on the Ethereum platform. Seele aims to create a secure, high performance and scalable Blockchain.
Previous ranking: 301
49. V Systems
V Systems is a Blockchain infrastructure provider, focusing on database and cloud services, powered by the Supernode Proof-of-Stake (SPoS) consensus algorithm.
Previous ranking: 34
50. ABBC Coin
ABBC Coin is a cryptocurrency that has the goal of bringing the future of payment security to its users.
Previous ranking: N/A
Few Changes In The Top 15
The review of the Top 50 cryptocurrencies at the beginning of December 2019 shows that there was only one change in the Top 15 with the arrival of Tezos in 15th place.
Tezos’ capitalization has increased from $710 million to $800 million over the past 6 months.
This progress is notable and gives good perspectives to Tezos, which is now an Ethereum challenger.
In the Top 10, only one change with Stellar from 12th to 10th place. This is quite logical given the very large capitalizations among the cryptocurrencies in this Top 10. Moreover, it is interesting to note that only 11 cryptocurrencies exceed one billion dollars of capitalization.
Tezos, Huobi Token, MINDOL Are The Best Increases In The Top 50
Of the Top 50, the best progress over the last 5 months has been made by Tezos, which is now in the Top 15, as I have just explained.
Behind, Huobi Token moved up 27 places from 45th to 18th place. The platform is gaining in popularity and is being used by more and more users. Finally, MINDOL makes a smashing entry into this Top 50 at 27th place.
MINDOL is a promising project with a capitalization of $357 million.
A little lower in this Top 50, Centrality is also making a big leap forward from 171st to 40th place with a capitalization of $145 million. Its marketplace for decentralized applications continues to grow in popularity.
Dash, NEM, Zcash And Bitcoin Gold In Sharp Decline
Among the disappointments are Dash and Zcash. Dash fell from 15th to 22nd place while Zcash fell from 23rd to 33rd place. At the same time, Monero remains in the Top 15 and even gains a place to be 13th.
Monero stands out clearly from Dash and Zcash in the fight for leadership in the field of confidential cryptocurrencies.
6 Reasons Why Monero Remains A Great Investment For The Future
There will be a real need for a private, secure and untraceable cryptocurrency in the future.
NEM loses 7 places and now appears in 28th place. Its Blockchain based on Proof-of-Importance does not convince enough users for the moment. Finally, Bitcoin Gold went from 27th place to 46th place confirming that the future of a Bitcoin fork is never very bright after the initial craze.
The review of the Top 50 cryptocurrencies five months after the first one in July 2019 shows that the Top 15 members are well established and that the changes concern only minimal variations in positions. There is therefore a big difference between these cryptocurrencies and those that follow, which have more difficulty convincing users of the real potential of their projects.
Of course, there are always surprise entries such as that of MINDOL which climbs directly to 27th place but for nothing says that MINDOL will reach much higher now because it is always easier to generate enthusiasm for the launch of a cryptocurrency than to keep this enthusiasm going. The example of Bitcoin Gold is confirming this!
See you in May 2020 for the third edition of this review of the Top 50 cryptocurrencies which will be carried out just before the Bitcoin Halving which promises to be a real catalyst for the Bitcoin and cryptocurrency market as a whole.