The digital or cryptocurrency space has gone relatively quiet since the end of 2017 when the prices of cryptocurrencies everywhere were going ballistic as the likes of Bitcoin hit around US$20,000 in December 2017, with some 'analysts' claiming it was on the way to US$100,000.
However, since then bitcoin has lost around two thirds of its value to trade around US$6,500 since August 2018, with the price sitting at US$6,300 today.
However, anyone who bought Bitcoin in 2015 or before is probably still sitting on a profit anywhere between 10x or 100x their original investment.
The huge success of Bitcoin has spawned many imitators that are also reportedly based on some sort of distributed ledger technology that makes them supposedly incorruptible.
In fact online finance site Investing.com keeps an up-to-the-minute chart of the 10 largest existing cryptocurrencies by market cap.
So let's take a look to see what they may be in reverse order. All stats according to Investing.com as at November 13.
- Tether with the symbol USDT has a market cap of A$2.34b
- Monero with the symbol XMR has a market cap of A$2.42b
- Cardano with the symbol ADA has a market cap of A$2.73b
- Litecoin with the symbol LTC has a market cap of A$4.17b
- EOS with the symbol EOS has a market cap of A$6.75b
- Stellar Lumens with the symbol XLM has a market cap of A$7.07b
- Bitcoin Cash with the symbol BCH has a market cap of A$12.41b
- XRP (Ripple) with the symbol XRP has a market cap of A$28.85b
- Ethereum with the symbol ETH has a market cap of A$29.96b
- Bitcoin with the symbol BTC has a market cap of A$153.67b
As you can see Bitcoin is still the undisputed king of cryptocurrencies even if it has not been the best-performing over the past 6 to 12 months.
In fact Bitcoin's market value looks more than the next 9 largest cryptocurrencies combined.
How this list will look in a year's time is anyone's guess, but what is for certain is that none of these cryptos will pay you dividend income while you wait for capital growth….
Unlike The Motley Fool's favourite dividend share to buy NOW…It could be a way better alternative to a punt on cryptos….
