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List Of Top Ten Cryptocurrencies As On 24 December 2017

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This week was certainly a roller coaster ride for the cryptocurrency market after the incredible run up that was seen in the last month where almost all major cryptocurrencies gained more than 200% on average. At this point it seems that the dip in price is only a healthy correction as opposed to a full blown bear market as interest from both individual and institutional investors is at an all time high. Overall, most currencies in the list of top ten cryptocurrencies have lost anywhere between 10-30% of their price with the two major exceptions being Bitcoin Cash (up 60% w-o-w) and Ripple (up 46% w-o-w) who have made significant gains this week.

The week started at about $600 billion market cap for the entire cryptocurrency market and peaked at $650 billion December 21, 2017 before starting its downward decent. The market reached a low of $435 billion on December 22, 2017 as buyers panic sold which compounded the decline in price, evaporating over $150 billion in market cap overnight. The market has since recovered to its current levels of around $550 billion but it is unclear whether this price level will hold or not. After the incredible run of the the past several weeks, a correction like this is not only health but is desperately required in order to ensure long term growth.

Bitcoin (down 27% w-o-w) was the biggest loser this week, with its dominance levels going from a high of around 64% to its current levels of around 43%. This downturn is Bitcoin’s price could continue as the Bitcoin network remains heavily congested with about 300,000 unconfirmed transactions sitting in the Bitcoin memory pool as of writing this article. Bitcoin’s median fees have also skyrocketed in the past few weeks as more users are investing in Bitcoin. It seems that in the medium to long term, alt-coins stand to gain the most from Bitcoin’s inefficacies as there are solid DAG coins like IOTA and RaiBlocks which have instant fee-less transactions.

List of Top Ten Cryptocurrencies as on December 24, 2017

KryptoMoney.com publishes a list of top ten cryptocurrencies every Sunday. This is our 33’th weekly report and the previous one was published on 17 December 2017.

S.No Name Market Cap Price Supply (in circulation)
1 Bitcoin $239,373,381,060 $14,282.40 16,760,025 BTC
2 Ethereum $67,616,358,021 $700.43 96,536,048 ETH
3 Bitcoin Cash $51,015,044,421 $3,023.49 16,872,900 BCH
4 Ripple $42,820,701,148 $1.11 38,739,144,847 XRP 
5 Litecoin $15,348,727,540 $281.90 54,447,033 LTC
6 Cardano $10,295,484,148 $0.40 25,927,070,538 ADA 
7 IOTA $9,997,053,183 $3.60 2,779,530,283 MIOTA 
8 Dash $9,580,979,923 $1,232.77 7,771,912 DASH
9 NEM $8,089,856,999 $0.90 8,999,999,999 XEM 
10 Bitcoin Gold $5,321,065,861 $318.17 16,724,024 BTG

source-coinmarketcap.com

*Market Capitalization is calculated by multiplying the price with the supply of coins in circuclation.

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Gaurang Jain is a recent CS graduate from the University of Ilinois, Urbana-Champaign who has been involved in the cryptocurrency space since mid 2014 having set up a small mining operation in his dorm room (yay! Free electricity). He has grand visions for the future of cryptocurrencies and believes that in time code will disrupt big corporations and intrusive governments in ways that we cannot even imagine yet. He loves the great outdoors and is always up for road trip and does stand up comedy on the weekends when he can get a spot.

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