For newcomers to cryptocurrency, they can learn about the cryptocurrency world and cryptocurrency from various cryptocurrency rankings. For veterans of the cryptocurrency world, they can also learn about trends from cryptocurrency rankings and find high-quality and potential cryptocurrencies.
Each ranking indicator has its own interpretation. If a cryptocurrency is ranked at the top of a certain indicator, it means that it has performed well in some aspect. When looking at the ranking, you should not only look at which cryptocurrencies are on the list, but also understand the definition of the ranking indicator to know how to interpret the ranking.
Cryptocurrency Market Cap Rankings
Market capitalization ranking is the most commonly used ranking method. Generally speaking, when we talk about the largest cryptocurrency, we are referring to its market capitalization ranking.
Top 10 cryptocurrencies by market cap:
BTC Bitcoin (Big Brother in the Currency Circle)
ETH Ethereum (Platform Public Chain)
USDT Tether (US dollar stablecoin)
BNB Binance Coin (Exchange + Platform Public Chain)
SOL (Platform Public Chain)
XRP Ripple (payment)
USDC (another USD stablecoin)
ADA Cardano (Platform Public Chain)
AVAX Avalanche Coin (Platform Public Chain)
DOGE Dogecoin (meme)
What is Market Capitalization?
Market value = coin price x circulation
The issuance volumes of various cryptocurrencies are different. Coins with small issuance volumes are relatively easy to control. It is easier to push up or down the price of the coin. The larger the issuance volume, the more difficult it is. The price of the coin will be affected to a certain extent by the size of the issuance volume. It would be very inaccurate to only look at the price when evaluating a cryptocurrency. It is recommended to look at the market value.
Coins with low price are not necessarily cheap, and coins with high price are not necessarily expensive. It depends on the market value assessment.
The higher the market value, the harder it will be to go higher. More funds must be invested to increase the market value. Basically, the market value can be understood as the current market consensus on the value of this cryptocurrency.
So what does the top ten in market capitalization mean? These are the top ten cryptocurrencies with the highest consensus value in the market. They are all important projects in the cryptocurrency circle and can be said to be blue-chip coins in cryptocurrencies. However, their high market capitalization means that it will be increasingly difficult to go higher. Compared with small coins with relatively low market capitalization, they are relatively stable, but their explosive power in price is relatively low.
Cryptocurrency Fees Ranking
Market capitalization is more market-oriented. If you want to look at more operational indicators, you can consider looking at revenue (Fees).
Top 10 cryptocurrencies by fees:
Ethereum - Ethereum, a public blockchain platform
Bitcoin - Bitcoin, the largest and most well-known blockchain
Tron - Tron, a platform public chain
Lido Finance - DeFi Liquidity Staking Protocol Leader
Uniswap - DeFi decentralized exchange leader
MakerDAO - DeFi decentralized stablecoin leader
Aave - DeFi lending leader
Solana - The Star Platform Public Chain
BNB Chain - The platform public chain launched by the leading exchange Binance
GMX - Decentralized exchange that provides perpetual contract trading
What are the fees
The fees actually paid by the end customer.
The key point here is that not all the money paid by users goes into the pocket of the project owner. For example, in decentralized exchanges, some of the money paid by users is distributed to liquidity providers (the source of income from liquidity mining), and the rest is distributed to the project owner.
Fees paid by users =/= Project revenue
When interpreting this indicator, the top-ranked cryptocurrency projects do not mean that they make a lot of money. This indicator reflects that people actually pay the most for the services of these projects. This is something that people are willing to pay for. This means that there should be a demand for this service, and the demand has a certain market size. The functional interface services provided by these projects have also reached a certain level, making people willing to pay for them.
The cost indicator can help us find:
Track areas with real market demand and scale that people are willing to pay for
The functional interface provided is of a certain level, and people are willing to pay for it.
Ranking by number of active cryptocurrency users
Cost can be used to assess how much money the market has spent on the project, but how many people actually use it? This depends on another indicator: the number of active users.
The top ten cryptocurrency projects by active users are:
Tron - Platform public chain, the first choice for most people to transfer USDT
BNB Chain - The platform public chain launched by the leading exchange Binance
Ronin - The emerging popular game public chain
Polygon - Ethereum Layer 2 Solution
zkSync Era - Ethereum Layer 2
Bitcoin - The Big Brother of the Cryptocurrency Circle
Solana - The star platform public chain selected by Visa
Ethereum - the second largest cryptocurrency and the leading public blockchain platform
Arbitrum - Ethereum Layer 2
Uniswap - DeFi decentralized exchange leader
What is the number of active users?
It literally means how many active users there are? How many people interact with the project agreement? For example, the number of active users in 30 days refers to how many people have used it in 30 days. If the last use was two months ago, it will not be counted.
In the field of cryptocurrency, most centralized exchanges require KYC (real-name verification), while blockchain is more decentralized and usually anonymous, so the number of active users is not actually the number of people, but the number of addresses.
However, one person may have several wallet addresses, which cannot be ruled out at present. Assuming that the number of active users is 1,000, this means there are one thousand active addresses, but it is currently unknown how many real people are behind these one thousand addresses.
Ranking by Cryptocurrency Code Submissions
One day in the cryptocurrency world is like one year in the real world. The cryptocurrency industry is changing very fast. Projects must continue to innovate, continuously optimize interfaces and services, and continuously launch new functional products in order to gain a firm foothold in this rapidly changing field.
To evaluate whether a project is continuously adjusted and developed, the number of code submissions is a reference indicator.
The top ten cryptocurrency projects by code submissions:
ICP - Platform Public Chain
OP - Ethereum Layer 2
Metamask - The most used cryptocurrency wallet
Cardano - Platform public chain
Gnosis - Platform public chain, Ethereum side chain
Ethereum - The leading public chain platform
Flow - Platform public chain
MultiversX - Platform Public Chain
Polkadot - The underlying public chain of the cross-chain ecosystem, classified as Layer 0 public chain
Kusama - Polkadot’s canary network, similar to the pilot test network
The top ten in terms of code submissions are almost all public chains, from which we can see that more new public chains are emerging. Although they are not so outstanding in market or operational indicators at this stage, many projects are being vigorously developed, and perhaps we can find emerging potential projects in the future among them.
What are code commits?
Simply put, several code updates were submitted according to the project's GitHub, which is an online software source code hosting service platform.
This indicator can only be used as a partial reference. It only counts the number of code submissions, but cannot evaluate the content of the submissions. It is impossible to know how much each submission has been updated? Is it quality content or just spam? In fact, you still need to check the official actual dynamics. If there are many code submissions, are there really new features launched? The corresponding judgment will be more accurate.
There are many more ranking indicators, each with different definitions and can be interpreted differently; by looking at a large number of various rankings, it can help us better understand the cryptocurrency field, become more familiar with cryptocurrency projects, and make it easier to find the next potential track.
Later, I will bring you analysis of leading projects in other tracks. If you are interested, you can click to follow. I will also organize some cutting-edge consulting and project reviews from time to time. Welcome all like-minded people in the cryptocurrency circle to explore together. If you have any questions, you can comment or send a private message
