Top 10 cryptocurrencies of 2019 - 2020

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11 February 2020
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Top 10 cryptocurrencies of 2019 - 2020

Cryptocurrency is a new financial instrument that stands in stark contrast to the usual fiat. There are many versions of the further development of digital assets: some predict fruitful future for them, others believe that paper money is not yet ready to go beyond the veil. Despite the large number of skeptics, the growth of cryptocurrency capitalization and its gradual spread, show the relevance. At the same time, the market is changing: the strongest beat the weakest. 

In our article, you can find out which coins got in the top 10 cryptocurrencies of 2019 by capitalization and reliability, as well as get acquainted with the most promising and top-demanded coins.

2019 Capitalization Leaders

Cryptocurrency capitalization can be considered as an indicator of the prevalence and relevance of each specific project. At the same time, it is important to note one thing – the coins that appeared earlier than others have the maximum chances to top this rating. Largely due to the status of the first cryptocurrency, Bitcoin (BTC) has occupied the highest position in this industry for over 10 years. 

1 – Bitcoin 

Cryptocurrencies are usually divided into generations, based on their technical features. Bitcoin refers to the first. However, despite the expanded technical capabilities of other coins, it continues to maintain top positions. Its purpose is to provide daily payments. However, due to a set of circumstances, it was forced to “retrain” into an instrument to preserve value. There are several reasons for this:

  • Bitcoin, as the very first cryptocurrency, has a history. Based on previous rate fluctuations because of too various changes (including governmental regulatory prohibitions of several countries), the user can assume the level of its viability. In comparison, other coins are “dark horses”.

Attitude to BTC, as a tool for preserving value, can illustrate the growth of its rate against the  other market participants’ difficulties. So, for example, against the scandals around Tether in the fall of 2018, on October 15, the stablecoin exchange rate fell to a local minimum. At the same time, BTC - on the contrary, showed strong growth. 

According to the participants of the crypto community, such reactions are a consequence of attempts by altcoin owners to save their funds (by exchanging them to other coins) during periods of market hurdles.

  • The position of Bitcoin is unique. Its creator is someone named Satoshi Nakamoto. No one knows who is the programmer: whether he is a man, a woman, or a group of people. At the same time, the bitcoin network is decentralized and fairly anonymous. Accordingly, in case of any claims regarding the initiative, the regulatory authorities will have no one to present restrictive requirements. This is often mentioned in the microblog of Anthony Pompliano, co-founder of Morgan Creek Digital.

2 – Ethereum

The cryptocurrency of a Russian-born Vitalik Buterin deservedly takes the second place in the capitalization rating. Unlike the leader, Ethereum (ETH) is a second-generation virtual currency. Its main difference is the stake on smart contracts, a technology due to which financial agreements can be arranged between the parties. Control over the execution of the latter can be carried out by the system. 

Another area of startup work is the creation of decentralized applications (dapps). However, the demand for the latter, according to bitcoin core developer Jimmy Song, will gradually decrease. During Consensus 2019 conference, the specialist bet 810 ETH against Ethereum co-founder Joseph Lubin in case of negative dynamics of dapps in 4 years.

In 2019, ETH again faced the need to defend its third place occupied for a long period of time. The contender for the second line of the rating was XRP. ETH was finally able to regain its position and break away from its competitor only by mid-February 2019.

XRP moves ETH from second to third place.

3 – XRP 

Throughout 2019, Ripple was surrounded by scandals. According to the crypto community, representatives of the pre-mined XRP manipulate its rate (through large-scale simultaneous sales). However, XRP managed to remove ETH from second place for a while. 

Despite the statements made by Brad Garlinghouse, Ripple CEO, about the high level of XRP correlation with other assets, the movement of the cryptocurrency exchange rate is significantly different from BTC indicators. 

4 – Bitcoin Cash

One of the most popular forks of Bitcoin fought with Litecoin for the 4th place in the ranking for the whole year. As a result, it managed to come out on top.

5 - Litecoin 

Litecoin (LTC) has recently experienced halving (a double reduction of mining rewards). This was announced in the microblog of Charlie Lee, Litecoin CEO. 

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It is noteworthy that shortly before the halving, LTC showed some of the best growth rate results. 

6 – Tether 

Despite the scandals surrounding Tether (USDT), stablecoin continues to hold the first position among all “stablecoins” on the market. It is noteworthy that the asset is popular among the Chinese doing business in Russia. With its help, entrepreneurs transfer earned money to their homeland.

7 – EOS

During 2019, EOS turned out to be one of the “quietest” projects from the top ten leaders. EOS leaves no attempt to take a higher position in the ranking, slowly moving forward.

8 – Binance Coin

The cryptocurrency of one of the most popular crypto exchanges Binance managed to enter the top ten thanks to the active work of the platform team over the short period of its existence. Currently, the coin holds position thanks to the participation in the development of the Binance ecosystem. 

9 – Bitcoin SV

Supported by a fake Satoshi Nakamoto Craig Wright, Bitcoin SV managed to reach the ninth line of the rating. Despite this, many participants of crypto community predict its collapse. So, the well-known trader and TV presenter Max Kaiser believes that SV-version is not viable in the long run.

The asset has also been criticized by Vitalik Buterin, Ethereum CEO. The specialist believes that the creators of altcoin pursue fraudulent purposes. Also, ETH developer criticized Binance exchange, whose coin is placed in a line above.

10 – Monero

During 2019, Monero (XRP) managed to overtake IOTA, taking 10th place in the ranking. It is the only cryptocurrency focused on an increased level of anonymity among dozens of leaders.

The top 10 cryptocurrency market capitalization is an important component of the overall market capitalization indicator. 

Top 3 according to reliability

Despite the high level of capitalization, not every cryptocurrency from top-10 seems to be quite reliable.  For example, many people consider Bitcoin SV and Bitcoin Cash a scam projects. Another leader, Litecoin, is often accused of uselessness. Among current projects, the top 3 in terms of reliability may look as follows:

 

Name

Explanation

1

Bitcoin

Leads the movement of the digital asset market. Faced a large number of problems. No project can be compared with it in terms of prevalence.

2

Ethereum 

Developers regularly improve the technical structure of ETH. According to some researchers, Ethereum can get the status of an independent cryptocurrency, avoiding the title of altcoin.

3

Monero

A project with a complex technical structure, the team of which is working to expand its capabilities.

Also, the mentioned projects differ from others by their focus on results, in the form of providing users high-quality payment solutions, unlike other market participants.

Top 5 promising cryptocurrencies

Further, we will consider the five most promising coins that may soon put competitive pressure on the current leaders of capitalization.

 

Name

Explanation

1

Cosmos

For Cosmos Tokens (ATOM), stacking is available. Technical solutions of developers regarding organizing the compatibility of blockchain are in demand.

2

Chainlink

The startup has become a member of the five most successful ICO, in terms of growth against bitcoin.

3

USD Coin

USD Coin is involved in the Coinbase initiative of Coinbase exchange, designed to create conditions for entrepreneurs to accept digital currencies.

4

Dogecoin

Dogecoin is a joke that, under series of events, has turned into a competitive payment instrument. Dogecoin is a meme cryptocurrency, however, the technical structure of the coin and its growth indicators allow us to call it promising.

5

Ravencoin

It’s a fork of BTC popular among miners. It has a high level of functionality and simplicity.

 

Cryptocurrency bets made by crypto community

The majority of popular members in the crypto community bet on Bitcoin, considering it to be digital gold. Among altcoins, the most frequently mentioned contender for survival is Ethereum. Other coins are mentioned less often.

Final rating

The most stable and secure regarding investments is Bitcoin. It has everything necessary to compete with fiat. The lack of technical innovations presented in startups of the next generations does not prevent the creation of Satoshi Nakamoto from strengthening its position.

In addition to popular coins, young promising startups also take their places on the market. Despite the fact that the first place is thoroughly taken by bitcoin, a number of coins have prospects for getting closer to it. Over time, race participants may change.

Summing up the results

Thus, the level of capitalization is not always an indicator of digital currencies prospects. In addition, the practice shows that young startups may quickly reach leadership positions. 

The lack of clear regulation of the industry by the authorities also influences the position of the new financial instrument. Developing legal framework, with the gradual accumulation of a history of use, can contribute to the further spread of digital money. 

 

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