Bitcoin, the pioneering cryptocurrency, has experienced dramatic value fluctuations—surging over 10x at peaks before significant corrections. Despite this volatility, several cryptocurrencies emerged as market leaders.
The 2017-2018 period marked a transformative phase for digital assets, characterized by rapid valuation spikes, heightened investor interest, and a surge in new blockchain projects funded through ICOs. Below are the top five cryptocurrencies by market capitalization as of mid-2018.
1. Bitcoin (BTC)
Market Cap: $125 billion
Price per Coin: $7,305
Circulating Supply: 17.1 million BTC
Bitcoin remains the dominant force in crypto, accounting for the largest share of the market. Its resilience has defied predictions of a "Flippening," where alternative cryptocurrencies might overtake its position.
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2. Ethereum (ETH)
Market Cap: $50 billion
Price per Token: $500
Circulating Supply: 100.7 million ETH
Ethereum revolutionized the space by enabling smart contracts and ICOs. Its utility as a platform for decentralized applications (dApps) solidified its second-place ranking.
3. Ripple (XRP)
Market Cap: $19.8 billion
Price per Token: $0.50
Circulating Supply: 39 billion XRP
Ripple’s focus on cross-border payments for financial institutions set it apart, though its centralized nature sparked debates within the crypto community.
4. Bitcoin Cash (BCH)
Market Cap: $14.5 billion
Price per Coin: $843
Circulating Supply: 17.2 million BCH
Born from a Bitcoin hard fork, Bitcoin Cash prioritized scalability with larger block sizes, appealing to users seeking faster transactions.
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5. EOS (EOS)
Market Cap: $7.83 billion
Price per Token: ~$8.74
Circulating Supply: 896 million EOS
EOS aimed to compete with Ethereum by offering higher throughput and zero transaction fees, though it faced criticism over centralization.
FAQs
Q: Why did Bitcoin dominate the market cap rankings?
A: As the first cryptocurrency, Bitcoin benefits from brand recognition, liquidity, and widespread adoption as a store of value.
Q: How does Ethereum differ from Bitcoin?
A: Ethereum is a programmable blockchain supporting dApps and smart contracts, whereas Bitcoin primarily functions as digital money.
Q: Is Ripple a decentralized cryptocurrency?
A: Ripple’s consensus mechanism and ties to banks make it more centralized than Bitcoin or Ethereum.
Q: What was the purpose of the Bitcoin Cash fork?
A: To address Bitcoin’s scalability issues by increasing block size, enabling faster and cheaper transactions.
Q: Why did EOS gain traction?
A: Its promise of scalable dApp development attracted developers, though trade-offs in decentralization were contentious.
Note: All data reflects mid-2018 metrics. For current market trends, consult real-time tracking tools.
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