How to Calculate Your Cryptocurrency Ranking
There are many different ways to calculate your cryptocurrency’s rank, but there is one thing that they all have in common: market cap. The market cap of a cryptocurrency is the total amount of the digital currency’s supply times its price. However, some ranking platforms also factor in 24-hour trading volume. These factors are reflected in the ranking of cryptocurrencies. For the most part, the number one cryptocurrency on the list is Bitcoin. Other top ten cryptocurrencies include Ethereum (ETH), Ripple (XRP), and Terra (LUNA).
CoinGecko: CoinGecko ranks cryptocurrencies based on their developer activity, community activity, liquidity, market cap, and public interest. This site also rates currencies by their algorithms and gives an accurate score based on the strength of the teams behind them. Its community and market cap data make it an invaluable tool for cryptocurrency investors. There are hundreds of other cryptocurrency ranking websites, so it’s important to find one that suits your needs.
Market capitalisation: Market capitalisation gives you a better idea of which cryptocurrency is more dominant in the market. Large cap cryptocurrencies, for example, have high market caps. They are also more popular because they tend to have a more thriving ecosystem of developers. However, the market cap is not an exact comparison metric, as some cryptocurrency projects can have inflated market caps due to tokenomics and price swings. A cryptocurrency’s market cap is not always indicative of how valuable a currency is, and it is important to be cautious when relying solely on this metric.
Ripple: Ripple is one of the most popular cryptocurrencies, with a market cap of over $19.8 billion. Despite the relatively low price of XRP, the total amount of the token is high, with 39 billion in circulation. Ripple’s value is growing rapidly as more institutions seek to include this asset on their balance sheets. That means that the best time to invest in Ripple is now to start.
The top two cryptocurrencies: Bitcoin and Ethereum. These two coins have been in the spotlight for some time now, and their popularity makes them the most popular cryptocurrencies in the world. Many people want to know which is better. And the truth is, there is no clear winner in this race. Both coins are wildly popular, but only a small fraction of them are the best investments in the market. In addition, they are not exactly the same.
However, the digital currency market is growing rapidly, with more people investing in the space. One recent survey conducted by CNBC/Momentive Invest in You found that more than 10% of respondents in the U.S. had invested in cryptocurrency. After stocks, mutual funds, and real estate, cryptocurrency now ranks fourth in the investment world. According to the survey, more than six-fifth of investors have joined the cryptocurrency world in the last year, when prices spiked.
While CoinMarketCap is a widely-used platform for analyzing cryptocurrency prices, some people prefer CoinGecko as it provides a variety of metrics about the different coins, including their market cap, liquidity, and price. CoinGecko is an excellent alternative to CoinMarketCap, and is a great source for crucial coin information. It also ranks coins based on their development activity, public interest, and community support. It is important to remember that some cryptocurrency ranking websites have better user interfaces.