Billion Dollar Cryptocurrencies: 18 Coins Now Part of the Exclusive Club

The market for billion-dollar cryptocurrencies got bigger over the weekend, as investor appetite continued to spread beyond the preeminent bitcoin.

Exclusive Club

At the time of writing, there were 18 cryptocurrencies with a market capitalization of at least $1 billion, according to CoinMarketCap. The recent additions include EOS, Stellar Lumens, Lisk, BitConnect and OmiseGo – lesser known coins that are finding greater utility among investors and businesses. Nine additional altcoins are valued at half a billion or more, including Qtum, Zcash and Tether.

The altcoin surge took a while to materialize, as digital currencies not named bitcoin struggled to gain momentum last month. Bitcoin continues to control the market with a capitalization of nearly $200 billion. The global market cap for all cryptocurrencies is $357 billion, giving bitcoin roughly 56% market share.

Altcoin Surge

There are currently more than 1,200 cryptocurrencies in existence. Although the vast majority are expected to go bust, that still leaves a large universe of high-quality assets.

Digital currency IOTA recently caught a tailwind higher after announcing a strategic partnership with Microsoft around its IOT marketplace. Meanwhile, Dash has tripled in value over the past month thanks to a high-profile block upgrade and favorable reviews from market participants in search of a more scalable bitcoin.  Although Dash may be lesser known than bitcoin, it is significantly faster, cheaper and has optional privacy features. Investors have quickly taken notice.

OmiseGo is also surging after the platform announced a major partnership with McDonald’s. The decentralized exchange has quietly become one of Asia’s most promising platforms, warranting a billion-dollar market cap.

Stellar Lumens is booming on optimism that it could soon join Ethereum as the next major ICO platform.  Last month, Smartlands became the first ICO to launch on the Stellar platform. Recent industry activity suggests more token raises will migrate to Stellar in the near term.

At the top of the altcoin list, Ethereum, Ripple and bitcoin cash continue to generate strong bids. Ethereum’s native token recently surpassed $500 for the first time, while bitcoin cash has benefited from last month’s failed Segwit2x fork attempt.

With bitcoin prices surging through the stratosphere, there’s little evidence to suggest the altcoin surge will slow anytime soon. Bitcoin’s rally could extend further into record territory in coming weeks as CBOE and CME Group launch their futures contracts.

Billion Dollar Cryptocurrencies: Full List

  1. Bitcoin: $199.7 billion
  2. Ethereum: $44.8 billion
  3. Bitcoin Cash: $25.8 billion
  4. IOTA: $9.7 billion
  5. Ripple XRP: $9.6 billion
  6. Dash: $5.9 billion
  7. Litecoin: $5.6 billion
  8. Bitcoin Gold: $5.2 billion
  9. Monero: $3.8 billion
  10. Cardano: $3.4 billion
  11. Ethereum Classic: $3 billion
  12. NEM: $2.7 billion
  13. NEO: $2.6 billion
  14. EOS: $2.2 billion
  15. Stellar Lumens: $2.1 billion
  16. Lisk: $1.1 billion
  17. BitConnect: $1.1 billion
  18. OmiseGo: $1 billion

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. 

Author:
Chief Editor to Hacked.com and Contributor to CCN.com, Sam Bourgi has spent the past nine years focused on economics, markets and cryptocurrencies. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Avid crypto watchers and those with a libertarian persuasion can follow him on twitter at @hsbourgi