As of May 23, 2024, the market capitalizations of Bitcoin, Ethereum, BNB, Solana, Ripple, Dogecoin, Toncoin, Cardano, and Shiba Inu Coin are US$1.40 trillion, US$442.84 billion, US$88.33 billion, US$83.07 billion, US$29.67 billion, US$23.57 billion, US$22.73 billion, US$17.85 billion, and US$14.96 billion, respectively.
Currently, the total market capitalization of the cryptocurrency market is $2.43 trillion, with Bitcoin and Ethereum accounting for the majority of the market capitalization. Bitcoin is a digital currency that can be transferred directly between users on the Bitcoin peer-to-peer network without the need for a central bank or single administrator. Network nodes use cryptography to verify transactions, which are then recorded in a public distributed ledger called a blockchain.
Ethereum is a public blockchain platform for building decentralized applications such as smart contracts, and the Ethereum network uses Ether as its native currency (ETH). Ethereum is the most popular blockchain platform for developing smart contracts and is responsible for a large amount of money due to its position as the world's second most valuable cryptocurrency.
The future development of the cryptocurrency market is affected by many factors, including policies and regulations, technological innovation, market demand, competition, etc. Investors should pay close attention to market dynamics, conduct risk assessment, and make decisions based on their risk tolerance and investment goals.
