The Blockchains Currently Ruling the Cryptocurrency Market

The Blockchains Currently Ruling the Cryptocurrency Market

When Bitcoin was launched in 2009, it was the only cryptocurrency and the blockchain in the entire crypto-verse. At that time, it was also the only asset in the entire crypto mining sector that was being mined. However, the cryptocurrency sector has continued growing larger and more blockchains have been launched in a matter of 13 years.

Why New Blockchains were lunched

Over time, new developers and more programmers kept launching new blockchains and protocols. This is because, through new blockchains, the developers have launched more cryptocurrencies as well as decentralized applications.

The main reason why new blockchains were launched was because of the growing transaction processing fees. Apart from launching efficient blockchains, the developers also allowed them to process an enormous number of transactions in single instances.

The blockchain that gained the highest amount of recognition was Ethereum. To this day, Ethereum is the largest blockchain that is home to thousands of cryptocurrencies. With time, the Ethereumblockchain also started encountering high transaction fees and transaction volume/latency issues. Therefore more blockchains such as Binance Smart Chain, PolkadotBlockchain, Solana Blockchain, and Avalanche Blockchain were launched to address such issues.

We will now go through the major blockchain networks apart from Ethereum and see, which major cryptocurrencies are accommodated by them.

Binance Smart Chain

Binance Smart Chain (BSC) is considered the second-largest blockchain ecosystem in the entire crypto-verse having homed several cryptocurrencies.

Apart from all the cryptocurrencies, the major cryptocurrencies flowing through its system include Binance Coin (BNB), Cardano (ADA), and Dogecoin (DOGE).

Binance Coin

Binance Coin currently has a unit price of $416 per BNB and its current market valuation is worth $68,744,678,352. Binance Coin has continued growing in size and demand so much that it is currently the third-largest cryptocurrency. The average daily trading volume for Binance Coin is also worth $1,774,445,289.

Cardano

Then come Cardano, which is currently the 8th largest cryptocurrency in the entire crypto-verse with a market valuation of $31,931,396,545. The unit price of Cardano is worth $0.946 and its average daily trading volume is worth $841,711,526.

Dogecoin

Dogecoin is among the top cryptocurrencies on the Binance Smart Chain as it currently has a market valuation that is worth $18,873,030,872. The current trading price of the DOGE/USDT pair is worth $.1431 per DOGE. The average daily trading volume for Dogecoin is worth $1,369,819,206.

PolkadotBlockchain

Polkadotblockchain currently has Polkadot (DOT), Chainlink (LINK), and Kusama (KSM) as its three major cryptocurrencies. These cryptocurrencies have performed really well ever since their debuts and their details are provided below:

Polkadot

Polkadot’s current unit price is worth $17.99 per DOT and it has experienced a 3.90% weighted growth in the past 30-days. The average trading volume for Polkadot currently stands at $628,730,839. The market valuation for Polkadot is currently at $17,786,858,284. Polkadot currently ranks as the 12th largest cryptocurrency in the entire crypto-verse.

Chainlink

Chainlink is also a high-performing cryptocurrency on the Polkadotblockchain. Its current trading price is worth $13.83 per LINK and it has grown by 5.53% in the past 24-hours. The current trading volume for Chainlink stands at $441,903,652. The market valuation for Chainlink currently stands at $6,461,890,130.

Kusama

Kusama is currently the 71st largest cryptocurrency in the entire crypto-verse. The trading price of Kusama currently stands at $160.69 per KSM and its average trading volume is worth $111,604,572. The current market valuation of Polkadot currently stands at $1,363,566,817.

Solana Blockchain

Solana blockchain is considered the third major blockchain within the entire cryptocurrency universe. The three major cryptocurrencies operated through the Solana blockchain include Solana, Terra, and The Graph. These cryptocurrencies currently have unit prices worth $102.56 per SOL, $83.81 per LUNA, and $0.3704 per GRT.

The market valuations for SOL, LUNA, and GRT stand at $33,686,335,309, $30,343,260,927, and $121,186,374.

The trading volume for SOL, LUNA, and GRT currently stands at $1,615,297,600, $1,823,801,982, and $121,186,374 respectively.

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