Sep 1, 2022 at 02:50Contents
On June 14, 2022, the overall cryptocurrency market cap fell under $1T for the first time since early 2021. The record $3T on November 21 is already behind us, and the reason is the crypto winter, which hasn’t stopped until now and affects the whole digital assets market. No one knows when it will be over, but August was tough. How have prices changed this month? We’ll discuss that below.
What is market capitalization?
Let’s start with the terminology.
Capitalization is a market indicator that shows how much total money is contained in a financial asset. Initially, this concept was primarily used by various companies on the stock market. It clarified which firms were priced higher and which were priced lower. To estimate capitalization is relatively straightforward: to do this, you must multiply the number of shares in free circulation by their price.
In turn, the market cap of cryptocurrencies is the sum of all issued coins in dollar equivalent. However, it should be noted that the indicator is less accurate than the shares, plus the participants of the top change very often. This is because it is a calculation and does not always consider how many coins are in circulation. After all, one thing is how much BTC is mined, for example, and another is how much is circulating. Many of those who had Bitcoins lost their wallet passwords. Thus, the supply and the actual capacity of crypto are less.
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Now, let’s look at the Top Cryptocurrencies by Market Capitalization for 30 days ending on September 1, 2022, and how their value has changed over the past month. We took all the data from CoinMarketCap.
Bitcoin
Market cap — $380.92B ($434B at the beginning of August)
As always, Bitcoin has the highest capitalization. The current BTC price is about $19.9K, with a 24-hour trading volume of about $31B. Bitcoin fell 1,69% on the last day. The actual rank is №1, with a market capitalization of about $380B. It has a circulating supply of 19 138 275 BTC coins and a max. supply of 21M BTC coins.
Ethereum
Market cap — $188.86B ($191.35B at the beginning of August)
The current Ethereum price is $1542, with a 24-hour trading volume of about $17.6B. ETH fell 1,92% on the last day. The current rank is №2, with a market capitalization of about $188.5B. It has a circulating supply of 122 194 702 ETH coins and the maximum supply is not available.
A lot will change (or not) after the upcoming event called The Merge. We wrote more about it here.
Tether
Market cap — $67.55B ($66.32B at the beginning of August)
The current Tether price is $1, with a 24-hour trading volume of about $45.4B. Tether didn’t fall or rise on the last day. The live rank is №3, with a market capitalization of approximately $67.5B. It has a circulating supply of 67 550 404 113 USDT coins and the maximum supply is not available.
USD Coin
Market cap — $52.25B ($54.48B at the beginning of August)
The current USD Coin price is $1, with a 24-hour trading volume of about $5.4B. USD Coin fell 0,01% on the last day. The live rank is №4, with a market capitalization of almost $52.25B. It has a circulating supply of 52 258 112 786 USDC coins and the maximum supply is not available.
BNB
Market cap — $44.44B ($45.22B at the beginning of August)
The current BNB price is $276.10, with a 24-hour trading volume of $892.9K. BNB fell 3,29% on the last day. The rank is №5, with a market capitalization of about $44.44B. It has a circulating supply of 161 337 261 BNB coins and a max. supply of 200 000 000 BNB coins.
Binance USD
Market cap — $19.31B ($17.92B at the beginning of August)
The current Binance USD price is $0,999979, with a 24-hour trading volume of about $7.3M. Binance USD fell 0,02% on the last day. The rank is №6, with a market capitalization of almost $19.31B. It has a circulating supply of 19 306 362 606 BUSD coins and the maximum supply is not available.
XRP
Market cap — $16.18B ($17.96B at the beginning of August)
The current XRP price is $0.325005, with a 24-hour trading volume of about $893.6M. XRP fell 2,27% on the last day. The rank is №7, with a market capitalization of about $16.18B. It has a circulating supply of 49 646 492 379 XRP coins and a maximum supply of 100 000 000 000 XRP coins.
Cardano
Market cap — $14.06B ($16.63B at the beginning of August)
The current Cardano price is $0.445071, with a 24-hour trading volume of about $493.6M. Cardano fell 2,12% on the last day. The rank is №8, with a market capitalization of about $14.06B. It has a circulating supply of 33 739 028 516 ADA coins and a maximum supply of 45 000 000 000 ADA coins.
Solana
Market cap — $10.88B ($13.9B at the beginning of August)
The current Solana price is $31.19, with a 24-hour trading volume of $716.2M. Solana fell 3,16% on the last day. The rank is №9, with a market capitalization of about $10.88B. It has a circulating supply of 350 014 550 SOL coins and the maximum supply is not available.
Dogecoin
Market cap — $8.04B ($8.85B at the beginning of August)
The current Dogecoin price is $0.060738, with a 24-hour trading volume of $309.8M. Dogecoin fell 3,02% on the last day. The rank is №10, with a market capitalization of about $8.04B. It has a circulating supply of 132 670 764 300 DOGE coins and the maximum supply is not available.
This is the Top 10 Cryptocurrencies by Capitalization, but given the volatility of the market, the list is constantly changing, and those who are leaders today may be outsiders tomorrow. Therefore, it would be right to also look at the following candidates, which in the long run could be in the Top 10 at any time.
By the way, market capitalization is used as a metric when evaluating the investment market. However, some experts believe that this indicator is useless and even dangerous.
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