Crypto

In-Depth Analysis of Top Cryptocurrencies: May 17, 2024

Harshini

Check out the in-depth analysis of top cryptocurrencies on May 17, 2024

1.Bitcoin (BTC)

Price: US$66,247.86

24h Change: +0.08%

24h Volume: US$15.90B

Market Cap: US$1.31T

Category: Currency

Overview

Bitcoin, the pioneer of top cryptocurrencies, continues to dominate the market with its substantial market capitalization and trading volume. Often referred to as digital gold, Bitcoin serves as a store of value and a medium of exchange.

2.Ethereum (ETH)

Price: US$3,031.42

24h Change: +1.07%

24h Volume: US$13.31B

Market Cap: US$364.14B

Category: Smart Contract Platform

Overview

Ethereum, known for its innovative contract capabilities, is the second-largest cryptocurrency by market cap. It is the backbone of decentralized applications (dApps) and the DeFi ecosystem.

3.Tether (USDT)

Price: US$0.99993296

24h Change: -0.03%

24h Volume: US$29.15B

Market Cap: US$111.20B

Category: Stablecoin

Overview

Tether is a stablecoin pegged to the US dollar, providing a stable digital currency option in the volatile crypto market. It is widely used for trading and as a store of value.

4.BNB (Binance Coin)

Price: US$578.15

24h Change: -0.67%

24h Volume: US$960.65M

Market Cap: US$88.95B

Category: Smart Contract Platform

Overview

BNB, the native cryptocurrency of the Binance exchange and one of the top cryptocurrencies has grown beyond a mere exchange token to a multifaceted asset used in the Binance Smart Chain (BSC) for smart contracts and decentralized applications.

5.Solana (SOL)

Price: US$168.54

24h Change: +3.21%

24h Volume: US$3.16B

Market Cap: US$75.64B

Category: Smart Contract Platform

Overview

Solana is known for its high-speed and low-cost transactions, making it a popular platform for dApps, DeFi, and NFTs. It has positioned itself as a strong competitor to Ethereum.

6.USD Coin (USDC)

Price: US$0.99952259

24h Change: -0.15%

24h Volume: US$5.93B

Market Cap: US$33.29B

Category: Stablecoin

Overview

USD Coin is a fully backed stablecoin pegged to the US dollar. It is known for its transparency and regulatory compliance and is used extensively in trading, lending, and DeFi.

7.XRP (Ripple)

Price: US$0.52124934

24h Change: +0.59%

24h Volume: US$884.23M

Market Cap: US$28.82B

Category: Currency

Overview

XRP, the native cryptocurrency of the Ripple network and one of the top cryptocurrencies, is designed for fast and cost-effective cross-border payments. It focuses heavily on institutional use cases.

8.Toncoin (TON)

Price: US$6.69

24h Change: +2.04%

24h Volume: US$816.29M

Market Cap: US$23.23B

Category: Smart Contract Platform

Overview

Toncoin is a decentralized layer-1 blockchain developed by the Telegram team. It aims to provide high throughput and security for various decentralized applications.

9.Dogecoin (DOGE)

Price: US$0.15251665

24h Change: -1.40%

24h Volume: US$1.00B

Market Cap: US$22.01B

Category: Currency

Overview

Created as a joke, Dogecoin has evolved into a widely recognized cryptocurrency known for its strong community and viral marketing.

10.Cardano (ADA)

Price: US$0.48965525

24h Change: +7.53%

24h Volume: US$388.73M

Market Cap: US$17.31B

Category: Smart Contract Platform

Overview

Cardano is a third-generation blockchain platform focused on sustainability, scalability, and interoperability. It aims to provide a balanced and secure ecosystem for the development of dApps.

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