ETH has a market cap of more than $500 billion at the time of writing this article.īut don’t let the popularity of altcoins result in fear-of-missing-out (FOMO). Ethereum, the most widely heard-about altcoin, has grown significantly since its 2015 launch, thanks to its smart contract capabilities and the popularity of digitally scarce art known as non-fungible tokens (NFTs). 30, 2021.Įxperts caution that Bitcoin is highly speculative, and altcoins are even more so. After Bitcoin, the nine most popular cryptocurrencies are as follows: The term “altcoin” is shorthand for “alternative coins” and simply means cryptocurrencies other than Bitcoin. Let’s take a closer look at what altcoins are and why experts say most investors should take a pass on anything besides Bitcoin and Ethereum. That means there are literally thousands of other coins being exchanged out there in the metaverse. Altcoins occupy the remaining market share (roughly 40%). Bitcoin makes up nearly half of the total crypto market cap, and Ethereum makes up nearly a quarter. There are over 17,000 types of cryptocurrencies as of February 2022, according to price-tracking website CoinMarketCap. Ethereum is the most popular altcoin, and people use the full name (Ethereum) when talking about the broader blockchain network but Ether (ETH) to discuss the currency itself. “Altcoin” refers to any type of cryptocurrency other than Bitcoin. Since then, thousands of new altcoins, or alternative coins, have been created and added into the crypto ecosystem. That left other coins, known as “altcoins,” to get in line. In the proverbial “wild west” of cryptocurrency, Bitcoin established its reputation at the top well before any other types of coins were minted on the blockchain. For more information, see How We Make Money. Some links on this page - clearly marked - may take you to a partner website and may result in us earning a referral commission. We want to help you make more informed decisions.
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