What Cryptocurrencies Are the Most Popular Today?
OpinionBit News Today2 min read
Today, Bitcoin continues to draw much of the attention and drive the news cycle. It has been the leading protocol and currency by marketcap all year, making a large run up from July before a recent sharp drop.
It is a matter of debate how much Bitcoin's market dominance will continue. Formerly, Bitcoin occupied a commanding majority of the total cryptocurrency market cap. But the last month has seen a large increase in the number of currencies and the market share of others besides Bitcoin, like Ethereum and Ripple, rivaled Bitcoin as the most-used protocols. ## Bitcoin Alternative Gaining Attention
Ethereum, the number two cryptocurrency in overall market cap, is also breaking records. Led by a large community of developers and experimenting companies, Ethereum has caught a lot of general attention lately.
Ethereum is not a direct rival to Bitcoin, but it aims to create a different kind of decentralized platform atop a blockchain. Rather than focus on a currency, Ethereum aims to be a general-purpose blockchain for many kinds of projects, including smart contracts, decentralized applications, and even decentralized 'autonomous organizations' that act a governance and economic systems all in one.
Ethereum has been during this bull market, seeing Bitcoin and then surpassing it in trading volume. And people who follow the currency are excited about the amount of developer activity. ## XRP vs. Ethereum
Another altcoin to watch has been Ripple. It took the title of "second most valuable cryptocurrency" from Ethereum earlier in the week. As an established company with a focus on partnering with banks and financial institutions, Ripple has positioned itself as a competitor to Bitcoin for financial transactions rather than a technological competitor. ## The Race for Number Two
The cryptocurrency market has seen some exciting developments in the last year, and the position of the biggest "altcoins" has changed a lot. Ethereum and Ripple have been jostling for the spot of "most valuable cryptocurrency after Bitcoin." Although Bitcoin remains the overall leader, these two have often been close competitors in market cap and trading volume.
And although the top only sees a few names, today we can find hundreds of altcoins, an explosion of competing protocols and coins. Some of them are purely speculative, and some are innovative projects whose champions believe could be the next big thing. ## Conclusion
In the crypto world, Bitcoin is the big name, but it is not the only protocol drawing attention. If you are watching altcoins, it is worth keeping an eye on the top players in the market, as their popularity and utility continue to grow.
