What Are Crypto Prices For Market
A crypto price refers to the amount in dollars (or any other fiat currency) at which one unit of a cryptocurrency is valued. Different exchanges quote the crypto coin prices based on the local currency. However, the dollar is often the standard measure.
Crypto prices are impacted by factors such as the forces of demand and supply; they drop when there is increased supply and increase when there is high demand. Other influences include price manipulations which cause a drop after the public has gotten the news and the movement of Bitcoin, the largest crypto by market capitalization.
List of Cryptocurrencies
Notably, this cryptocurrency ranking is based on live crypto prices from Coinmarketcap as of 20th February 2020.
Ranked at position 994 with a market capitalization of $799,500, 42-coin is the digital currency with the highest crypto price. Its value as of 20th February 2020 was $19,036. There are only 42 coins in circulation.
Wrapped Bitcoin ($9,619)
Wrapped Bitcoin (WBTC) is based on the Ethereum network. The ERC20 token was launched in January 2019. Presently, it has a price of $9,619 and a market cap of over $8.5 million.
Bitcoin (BTC) is the oldest and most popular cryptocurrency. It is also the digital currency with the highest market capitalization which currently stands at $175 billion. An anonymous individual known as Satoshi Nakamoto created BTC in 2009. Over the years, its value has grown as a result of market forces. In 2017, BTC grew to nearly $20,000, the highest figure ever recorded before going on a free fall and subsequent price oscillations. Presently, its price is $9,600.
RSK Smart Bitcoin ($9,168)
The RSK Smart Bitcoin (RBTC) has a market capitalization of $1.48 million. There is a total of 162.4 coins in circulation with the limit capped at just under 21 million coins. Presently, its price is $9,168.
PAX Gold ($1,544)
PAX Gold (PAXG) is a stable coin that is backed by physical gold. The digital currency is built on the Ethereum platform. One PAXG coin is backed by about 31.1 grams of gold. Presently, its price is $1,544.
Maker (MKR) was created using the Ethereum platform. Notably, unlike other cryptos, MKR coins cannot be mined. In order to own them, an individual should purchase them on the Bibox exchange. Presently, its price is $643.
Bitcoin Cash ($375)
Bitcoin Cash is Bitcoin’s hard fork. This implies that it was initially part of Bitcoin before some developers with different principles from those that governed BTC defected in 2017 forming their individual blockchain protocol. Presently, its price is $375.
Bitcoin SV ($284)
Bitcoin SV is Bitcoin Cash’s hard fork that was created in 2018 when Bitcoin Cash was split following friction between the developers. Presently, its price is $284.
Mixin (XIN) is a blockchain network which also has its cryptocurrency. There is a total of 475,080 XIN coins in circulation translating to a market capitalization of $122.9 million. Presently, its price is $259.
Ethereum is more than a cryptocurrency. It is a platform upon which software and application are built and also functions as an operating system. It is a blockchain network that was launched in 2015 by Vitalik Buterin. Presently, its price is $257.
Conclusion On Crypto Prices
The value of digital currencies is quoted in crypto prices. 42-Coin has the highest crypto price while Ethereum closes the list of top 10 cryptocurrencies. Evidently, contrary to popular beliefs, Bitcoin is not the most valuable digital currency.
In exchanges and online platforms such as Coinmarketcap, the cryptocurrencies are listed based on their values in dollars or local currencies. These fiat currency figures are referred to as crypto prices.
Cryptocurrencies are highly volatile. Their crypto prices are highly interdependent. This implies that when one major crypto, such as Bitcoin, is on a downward trajectory, all the others will follow this trend. Additionally, market forces affect the prices of crucial digital currencies. Notable influences include buying or selling binge, technical factors, an increase in demand or supply, or price manipulation. When the conditions are unfavourable, the crypto prices will fall.
42-coin, Wrapped Bitcoin, Bitcoin, RSK Smart Bitcoin, PAX Gold, Maker, Bitcoin Cash, Bitcoin SV, Mixin, and Ethereum in the decreasing order of their crypto prices.