Wondering which cryptocurrencies are worth investing in in the near future? Tracking the rankings on an ongoing basis will help you to make the right decision. Below is a ranking of the 30 most popular cryptocurrencies. We will also show you how to assess the investment potential of selected currencies yourself!
Ranking cryptcurrencies the most popular cryptocurrencies
Last month (October), among the cryptocurrencies bitcoin dominated. The BTC exchange rate approached the level of USD 10000. July, however, was not so kind to the cryptocurrencies and many of them strongly lowered their course. But did it affect their popularity? Below is a list of 10 cryptcurrencies with the highest market capitalization. Market capitalization is a mathematical technique for determining the market value. Its value is the product of the quantity of coins in circulation and the current value of coins.
The Market Cap column shows the values of the market capitalization described above. The Price column shows the current exchange rate of each cryptocurrency – the price of one coin in American dollars. Changes in exchange rates during the last 24 hours are presented in the Change(24h) column. The volume of coins in circulation is presented in the Circulating Supply column. Price Graph (7d) shows us the chart of crypto-currency exchange rates for the last 7 days.
What affects the popularity of cryptocurrencies?
One of the basic factors influencing the popularity of cryptocurrencies is investor confidence. The value of cryptocurrency is justified by the demand among users. If the demand for a given cryptocurrency increases, its price also increases. Conversely, if users get rid of a given cryptcurrency, its price decreases. The second important factor that affects the popularity of a cryptocurrency is its usability. Crypto were created for a specific goal – they were to be a virtual currency for fast and cheap Internet transactions. The more sellers support cryptocurrencies, the more their usability increases. As a result, the number of their users is also growing. Cryptocurrencies without practical use, have no chance to survive on the market. The interest of the media may also turn out to be crucial for the increase of popularity of cryptocurrencies. The media largely influence the views of investors, and thus the whole market. News about the growing value of a given coin usually attract new investors, which in turn increases demand and crypto-crime exchange rate. Sometimes investors use manipulative techniques to influence the value of the crypto-currency rate. The technique called “pump and dump” consists in buying coins for a low price and advertising it later. This is to attract new investors, which will increase the rate of exchange. In the meantime, we can gradually sell previously purchased coins at a price much higher than the purchase price.
How to evaluate crypto popularity
There are several factors that need to be taken into account in order to properly assess the investment potential of a given cryptocurrency. One of them is the market capitalization discussed earlier, which presents us with the investment risk of a given currency. Bitcoin can boast the largest market capitalization among crypto-currencies. Volume analysis also allows us to make a reliable assessment of the popularity of a given currency. Volume represents the activity of investors in a specific time frame. However, according to some experts, volume analysis is not important for cryptocurrencies. However, it allows to find out when investors buy and sell a given currency. It is also worth noting the so-called tokenomics of a given currency. This means all the features that affect the quality of a given crypto, such as resistance to inflationary pressure, interchangeability or user acceptability. Favourable crypto tokenomics is a good beginning to gain high popularity. Analyzing the potential of cryptocurrency one cannot forget about the team that created it. The credibility and experience of the creators of a given currency should be assessed. It is important to know if the founders of a given currency have real achievements in the field of cryptocurrencies. It should also be remembered that many false cryptocurrencies list the world-famous crypto as team members. It is important to examine whether the listed persons are actually part of the project.