Here are the 10 Most Popular Cryptocurrencies That Aren’t Bitcoin

If you have heard of Bitcoin, you likely have some idea about what a cryptocurrency is. Yet, Bitcoin is not the only popular digital currency influencing people to become investors and traders in this volatile yet profitable market. It might be shocking to learn, but there are, in fact, more than 5,000 cryptocurrencies on the market. 

Since a central system like a government does not govern cryptocurrencies, they are becoming an increasingly popular investment choice despite their volatility. It’s common knowledge that Bitcoin is the oldest digital currency that is often considered the most trustworthy and reliable. Yet, more and more people are showing an interest in other cryptocurrencies that each have unique attributes that make them attractive. 

Interestingly, in 2021 the cryptocurrency market has seen an increase in interest from seasoned fiscal currency investors and beginner cryptocurrency investors. The cryptocurrency markets have seen significant changes in the last few months, with lesser-known cryptocurrencies like Dogecoin, Shibu Inu, and Solana becoming popular. 

In this cryptocurrency article, we will cover 10 of the most popular cryptocurrencies that aren’t Bitcoin. So if you’re intrigued and interested in learning more about a few of the most popular cryptocurrencies you should consider investing in, you should continue reading. 

1. Ethereum

Ethereum is much more than a cryptocurrency. Ethereum is also a network that allows users to create their own cryptocurrencies and decentralized mobile and desktop applications using the Ethereum networks technology. At present, this digital currency has an estimated market cap of more than $520 billion.

Unlike other digital currencies, Ethereum has been in existence for a while. This platform was founded in 2014 by Vitalik Buterin and Gavin Wood. Uniquely the Ethereum digital currency, which is known as Ether, is built upon the Ethereum blockchain.

Ethereum is fundamentally different from many cryptocurrencies in that it is not only seen as a primary store of value because of its platform supporting smart contract development. Interestingly, Ethereum is considered one of the more stable cryptocurrencies and has seen tremendous growth in the last five years. Its believed this digital currency grew by approximately 40,000 percent from its initial value of around $11 to its current value of an estimated $4,400. 

2. Binance Coin

The Binance Coin digital cryptocurrency utilizes a proof of stake consensus model and was founded by Changpeng Zhao. It is estimated that this cryptocurrencies market cap is around $88 billion. 

Unlike the other popular cryptocurrencies on our list, Binance Coin is a utility cryptocurrency. This means that it largely operates as a payment method for fees found on the Binance Exchange. Essentially, those looking to trade in cryptocurrency on the Binance Exchange use Binance Coin to buy other cryptocurrencies and pay the associated fees. 

The Binance Exchange, where Binance Coin operates, is one of the fastest-growing exchanges in the world. When you pay with Binance Coin on the exchange, you receive significantly lower fees when compared to if you paid with other cryptocurrencies. 

Similar to other popular digital currencies, Binance Coin has grown since 2017. It had a starting value of only $0.10, but as of the end of October 2021, its price rose to more than $530, which equates to an exponential increase of 530,000%. 

3. Stellar

Interestingly, Stellar is an open-source blockchain that utilizes a standard mining network for transaction validations. Instead of typical blockchain validation technology, Stellar relies on a federated byzantine agreement algorithm. 

The Stellar blockchain has its own native cryptocurrency, which is known as Lumen. Jed McCaleb founded this platform and cryptocurrency in 2014. As of November 2021, the Stellar platform had a market cap of over $750 million. 

The goal of the Stellar platform is to enable inexpensive transactions in underdeveloped markets. However, those using the Stellar network to complete transactions need to hold Lumens in order to transact. This platform is also targeted towards providing enterprise solutions for financial institutions. 

With the Stellar network, large transactions don’t take several days or weeks to complete and can instead be done almost instantaneously. Additionally, they won’t cost exorbitant fees to complete, nor do they require intermediaries. 

4. Tether

Those who are wary of the often extreme volatility of cryptocurrencies tend to trade with the cryptocurrency stable coin Tether. Since it is a stable coin, Tether is backed by fiat currencies like the Euro, Pound, or US dollar. 

Theoretically, Tether is meant to keep a value equal to one of these denominations, which is why it’s seen as more stable in the cryptocurrency world. At present, this stable coin has a market cap of more than $70 billion.

Tether was founded in 2014 and is a blockchain-enabled platform that allows users to use its blockchain network and associated technologies to transact in fiscal currencies. 

5. Solana

Similar to Ethereum, Solana is a blockchain that allows the creation of other cryptocurrencies using its technologies. Interestingly, Solana is believed by many experts to be Ethereum’s long-term rival because of Solana’s interaction capabilities with smart contracts. Its web-scale blockchain provides users with secure, fast, and scalable decentralized marketplaces and applications. 

Additionally, unlike Ethereum, it is much faster. On the Solana blockchain network, 50,000 transactions can be performed per second, whereas on the Ethereum network, only five to 15 transactions can be completed per second. 

Solana is a relatively new decentralized open-source blockchain, but it is becoming increasingly popular. This cryptocurrency was founded in 2020 and uniquely uses both proof of stake and proof of history methods. As of November 2021, it’s believed that the Solana market cap is approximately $70 billion. 

6. Cardano

The Cardano cryptocurrency is the fifth largest globally in terms of market cap. This cryptocurrency has an estimated market cap of more than $66 billion. What makes Cardano particularly attractive is its scalability, adaptability, and network speeds. 

The Cardano blockchain network takes far less time than its competitors to complete transactions, and it offers users low transaction fees. In addition to this, Cardano is proving to be less volatile than other cryptocurrencies. This is largely because it is peer-reviewed and is developed by a committed team of academics and engineers. 

Curiously, because Cardano uses a proof of stake validation method, it decreases energy usage and environmental impact surrounding token mining. Additionally, the Cardano platform also enables smart contracts and decentralized applications making it a strong competitor against Solana and Ethereum. 

The Cardano token is the ADA which has seen modest but steady growth in 2021. In 2017 Cardano’s token was trading at $0.02, and in October 2021, it was trading at approximately $2.01. This equates to a solid increase of around 26,000%. 

7. Shiba Inu

One of the youngest and most popular cryptocurrencies featured on our list is Shiba Inu. This cryptocurrency is often jokingly referred to as a “meme coin” and gained popularity incredibly quickly since it was founded in mid-2020. 

The Shiba Inu coin operates on the Ethereum network and is one of the cheapest cryptocurrencies that can be invested in, but it is also one of the more volatile coins. This cryptocurrency is most popular in India because the Ethereum founder Vitalik Buterin donated $1 billion worth of SHIB to India’s Covid-Crypto Relief Fund in May 2021. 

Interestingly, this meme cryptocurrency has grown exponentially in the last year, although it is still far below one cent. This cryptocurrency has risen to a value of approximately $0,00007567, which is a 5,400,000% increase. Additionally, Shiba Inu has an estimated market cap of more than $41 billion, which is impressive considering it was only founded in 2020. 

8. Tron

The Tron cryptocurrency is one of the few that have zero transaction fees which is why it is popular amongst both beginners and veteran cryptocurrency traders. In addition to having no transaction fees, the Tron platform can complete 2,000 transactions every second. 

Unlike other cryptocurrencies, Tron, which was launched in 2017, rewards creators for their work while allowing creators to retain full ownership of their projects. Another unique aspect of Tron is that it is currently being developed to allow users to use high-level language for its smart contracts. 

Essentially, this means that eventually, those using the Tron blockchain will be able to use any and every programming language to build upon Tron’s open software design. 

9. Dogecoin

Dogecoin was launched in 2013 by creators Billy Markus and Jackson Palmer and is another cryptocurrency that is often referred to as a meme coin. Dogecoin is an open-source, peer-to-peer proof of work digital currency that is known as an altcoin. Interestingly, although this cryptocurrency started out as a joke, its blockchain has merit because its underlying technology is derived from the cryptocurrency Litecoin. 

Although Dogecoin lost much of its value in 2018, it’s still immensely popular amongst a core group of traders and investors. It also became popular and drew in many newcomers to the cryptocurrency in 2021 after the influential SpaceEx and Tesla founder Elon Musk tweeted about Dogecoin. In his tweets, he stated that he considered accepting Dogecoin as a form of payment for Tesla shares. 

Since then, it has maintained its popularity, and many other companies are considering or are deciding to accept Dogecoin as a payment form. As of October 2021, Dogecoin had a market capitalization of approximately $31.9 billion, which is an incredible increase from its market capitalization of $339 million in 2020.

10. Polkadot

Polkadot is a popular cryptocurrency amongst those who want to be more interactive in a blockchain environment. Developers who choose to use the Polkadot platform founded by former Ethereum co-founder Gavin Wood have more freedom with what they can do. 

Polkadot was officially launched in 2020 and has since grown tremendously to have a market cap of more than 43 billion. With Polkadot, developers can link numerous blockchains to the Polkadot system, and if they want to, they can even create entirely new blockchains. Essentially Polkadot aims to create a platform that allows various cryptocurrencies to connect and work together. 

Interestingly, Polkadot is a proof of authority network. Additionally, it uses a shared security method that differs from its biggest rival, Ethereum. With this shared security method, developers can create blockchains securely with a reduced chance of being attacked.