The Top 3 Altcoins with the Highest Market Capitalization Rankings

As we all know, Bitcoin is the leading cryptocurrency in terms of market capitalization, adoption, and acceptance. Currently, there are thousands of alternative digital currencies to bitcoin also known as ‘altcoins’, if you’re not new to crypto you have definitely heard of them.

Ethereum (ETH), BNB (BNB), and XRP (XRP) are our top picks for the best altcoins this month. Apparently, altcoins are known to have a small market cap, fewer users, and lesser liquidity which makes them vulnerable to price fluctuations and market manipulations. 

But despite the volatility, investors are still keen to invest in altcoins as it gives them huge returns.

Ethereum (ETH)

Ethereum is an open-source, decentralized blockchain system with its own cryptocurrency. As the largest altcoin in the market, some are insisting that it should not be classified as an altcoin as it has established itself as the leading smart contract blockchain. ETH is currently used to execute decentralized smart contracts and various cryptocurrencies.

Since April 21, ETH price has been struggling to sustain $1,850 support, the same level it held before the rally toward $2,100 on April 13. This is due to the changes in the regulatory environment which has gotten stricter for centralized exchanges. 

Moreover, ETH dominance on stablecoin deposits has reached its lowest level in the past year at 54% from 64% in December 2022. On a good note, Ethereum’s market share by volume on DEX s peaked at 75% during the week ending March 5th but declined by 44% in the week ending April 16. At this time of writing, the ETH price is at $1,861.37 (up by 2.9% in the last 24 hours.)

ETH still makes a solid crypto to buy despite the dip so investors still keep their confidence. Besides, Ethereum is already solving its biggest challenges now which is also good for its users.

Binance Coin (BNB)

Globally, Binance is one of the largest cryptocurrency exchanges. It also supports its own blockchain and coin just like the other cryptocurrencies. One of the best features that Binance could offer is the lower trading fees for exchange holders. 

Last week, BNB daily transactions showed a slight uptrend and it was further established by the recent weekly BNB report wherein the chain’s daily average transactions surpassed 3.5 million.

However, BNB seems to be under the heat of uncertainty after being riddled with lawsuits from all directions. One of these lawsuits is the allegations by the U.S Commodity Futures Trading Commission (CFTC). According to the lawsuit, Binance has intentionally bypassed US laws and allowed Americans to trade in crypto derivatives. 

Due to these allegations, some BNB investors have withdrawn more than $1.6 billion from the platform and were fleeing to more transparent decentralized platforms such as the TMS Network.

BNB’s price today is at $336.64 (up by 2.30% in the last 24 hours).

Ripple (XRP)

Ripple is a blockchain solution developed for users to experience high-speed, low-cost international financial transactions while providing instant liquidity to central banks and other global financial institutions.

A year ago Ripple faces a lawsuit against the SEC and now several Congressmen are expressing the need for an immediate resolution to the regulatory issues surrounding the trade of cryptocurrencies in the United States which includes Ripple’s case.

Due to a lack of ruling and no updates about the SEC vs Ripple case, it’s been a quiet week for XRP. On Monday, XRP fell by 0.96% following another decline of 1.60% on Sunday and currently trading at $0.4692. XRP is up by 3.66% in the last 24 hours.