Top 10 Altcoins in 2024

Bittime - This article discusses the top 10 altcoins by market capitalization, excluding stablecoins. Stablecoins are designed to have stable prices and are not speculative investments. The following is a detailed explanation.

1. Ethereum (ETH)

Market capitalization: $362.2 billion

Ethereum is the largest altcoin on the market with a market capitalization of over $389 billion. Unlike Bitcoin which is known as a “store of value”, Ethereum is a distributed computing network where users can run decentralized applications (dApps) and smart contracts using blockchain.

Ethereum has the disadvantage of high transaction fees. However, with thousands of other applications and altcoins supported by its blockchain, Ethereum is expected to survive.

How to buy ETH/IDR.

2. BNB (BNB)

Market capitalization: $86.2 billion

BNB is a utility token that can be used to pay trading fees and get trading discounts on the Binance exchange. BNB can also be used for payments outside the exchange, for example for travel bookings.

Critics say BNB is not as decentralized as other altcoins. However, the value of the coin itself has attracted investors to the exchange since BNB started to become popular in 2021.

How to buy BNB/IDR.

3. Solana (SUN)

Market capitalization: $66.1 billion

Developed to support decentralized finance (DeFi), applications, and smart contracts, Solana uses a unique hybrid proof-of-stake and proof-of-history mechanism to process transactions quickly and securely.

Solana is one of the fastest blockchains out there. However, this blockchain has also been criticized for being too centralized with a small number of validator nodes compared to Ethereum.

Solana offers high scalability at very low costs, but has experienced disruptions and downtime.

How to buy SOL/IDR.

4. XRP (XRP)

Market capitalization: $29.0 billion

XRP is used to facilitate the exchange of different currencies with digital technology and payment processing company Ripple Labs.

Ripple Labs is a pioneer in the fast-paced world of crypto. Although many other coins have appeared and disappeared over the past decade, Ripple Labs and XRP have maintained their respected status.

XRP Ledger offers the first decentralized exchange (DEX) using a protocol that allows custom tokenization. This open-source technology is also known to be more environmentally friendly than other cryptocurrencies.

How to buy XRP/IDR.

5. Dogecoin (DOGE)

Market capitalization: $21.5 billion

Dogecoin was the first meme coin that started as a joke in 2013. However, thanks to a dedicated community and creative memes, DOGE quickly grew into a leading cryptocurrency.

DOGE has some big supporters but remains riskier than Bitcoin. The value of altcoins like DOGE can fluctuate drastically depending on market volatility because they don't have any real use cases yet.

How to buy DOGE/IDR.

6. Toncoin (TON)

Market capitalization: $20.2 billion

Developed in 2018 by Telegram, an encrypted messaging system, Toncoin is a Layer-1 blockchain originally named “Telegram Open Network” but now changed to “The Open Network”.

Toncoin was initially released so that in-app users could easily complete transactions within the Telegram app. However, now Toncoin has developed into a community-driven blockchain with a proof-of-stake network that maintains extremely fast processing and validation times.

How to buy TON/IDR.

7. Cardano (ADA)

Market capitalization: $15.8 billion

Cardano was one of the first to use a proof-of-stake consensus mechanism, which speeds up transaction times by eliminating competitive and energy-intensive problem solving like on the Bitcoin platform.

Cardano is a thought leader in the industry that has paved the way for proof-of-stake consensus mechanisms. ADA offers low costs with a high level of security.

However, some argue that Cardano promises too many features but hasn't delivered them yet.

How to buy ADA/IDR.

8. Shiba Inu (SHIB)

Market capitalization: $13.5 billion

Shiba Inu is an Ethereum-based meme coin developed in 2020. SHIB was created by "Ryoshi", an anonymous developer whose stated purpose of the coin was to find out whether an organization could work without central leadership.

With the support of crypto figures such as Elon Musk and Vitalik Buterin, Shiba Inu seems to be proving that Ryoshi's hopes can come true.

SHIB was once the most valuable meme coin in the world, surpassing Dogecoin. Some niche sellers have even started accepting SHIB as payment. However, the Shiba Inu community's efforts to get McDonald's to accept SHIB as a means of payment failed.

How to buy SHIB/IDR.

9. Avalanche (AVAX)

Market capitalization: $13.2 billion

Developed as a layer-1 blockchain for dApps and other networks, Avalanche has become one of Ethereum's main competitors. AVAX wants to replace Ethereum as the blockchain of choice for smart contracts.

Avalanche seeks to solve the famous blockchain trilemma, namely security, scalability, and decentralization.

This trilemma states that developers must sacrifice at least one of these three components to enable maximum productivity with the other two.

Avalanche tries to solve this trilemma by using three interoperable blockchains in its own development.

How to buy AVAX/IDR.

10. Tron (TRX)

Market capitalization: $10.7 billion

Tron was founded in Singapore in 2017. As of December 2021, Tron has evolved into a fully decentralized autonomous organization (DAO). Currently, Tron has more than 167 million accounts.

The price of TRX has increased rapidly, namely 5,380% since its launch. This makes Tron one of the fastest growing cryptocurrencies in the world.

Conclusion

The world of altcoins continues to grow rapidly. There are various kinds of innovative projects with different goals and functions. Investors should always do their own research before deciding to invest in a particular altcoin.

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Study Complete Guide How to Buy Crypto on Bittime.

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