Which Cryptocurrencies, Introduced In 2018, Made It To The TOP-50?

The TOP-50 cryptocurrencies list by market capitalization includes 10 coins that appeared on the market last year. Bitnewstoday took a closer look to identify which currencies and which projects they belong to.

The list of novice leaders includes the following coins: the Bitcoin SV, USD Coin, VeChain, TrueUSD, Holo, Ontology, Zilliqa, Paxos Standard token, Pundi X, Gemini Dollar. The share of the listed cryptocurrencies accounts for 2.6% of the total capitalization of the crypto coins, 2.8% of the total capitalization of the TOP-50 cryptocurrencies and 5.6% of the total value of altcoins.

Table 1 - Cryptocurrencies from the TOP-50, which appeared on the market in 2018

Source: Coinmarketcap data

Let's look at each currency in more detail.

Bitcoin SV (BSV). BSV is the result of a fork in the Bitcoin Cash network and the desire of the project team to keep the main idea of the Bitcoin creator Satoshi Nakamoto. They claimed to provide a low cost of transactions, high level of security and scalability for miners and institutional investors. It’s planned to release 21 mln BSV in total. At the moment, there are already 17,589,436 coins in circulation.

The BSV coin appeared on crypto exchanges on November 9th. At the opening of trading venues, it was sold at a price of 88.30 dollars. However, by the end of the day, one BSV was sold for 68.75 dollars. Currently, one coin costs about 72 dollars. The cumulative value of all those BSV in circulation is 1.263 bln dollars. This is 2.4% of the total value of altcoins.

USD Coin (USDC). USDC is a stablecoin, i.e. the coin, the price of which is tied to the cost of fiat currency. In our case, the coin is pegged to the US dollar. The value of the coin mostly does not change with the ups and downs of the crypto market, even the fluctuations of the bitcoin rate do not affect it.

There are currently 329,268,103 coins in active circulation. According to the developers, the emission is 341,659,866 USDC. The coin appeared on the exchanges on October 8 and has now increased its capitalization to $333.6 mln.

VeChain (VET). VET is the cryptocurrency of the VeChain project, which combines a DLT-based system and the Internet of Things technology. The developers aimed to make the process of data collecting, managing and sharing more simple and convenient. VeChain can be used for authentication of the property.

The coin made its debut on August 3 last year. The owners asked 0.015041 dollars for one VET coin. At the moment, the cost of cryptocurrency has dropped to $0.004. However, in terms of capitalization, which is 230.9 mln dollars, the coin is in the 25 place. 55,454,734,000 VETs are in circulation and the maximum emission threshold is set at 86,712,634,466 coins.

TrueUSD (TUSD). TUSD is another stablecoin. The project team is pursuing an ambitious goal of becoming the main digital stable quotationist. For the first time, the coin was traded on the exchange on March 6, 2018. Its value ranges from 0.97 dollars to 1.03 dollars. 208.3 mln TUSD are in circulation, and the emission limit has not been established. The cumulative value of all TUSD is $ 210.8 mln.

Holo (HOT). The Holo project is a platform that provides cloud storage and cloud computing. HOT coin went public on April 30 last year. Then its value was 0.000733 dollars. By the time this article was written, the coin rate had risen to $ 0.001531. The total value of all coins in circulation (currently it’s 133,214,575,156 HOT) is $ 203.9 mln. It is planned to issue 177,619,433,541 coins in total.

Ontology (ONT). Ontology project team announced the creation of a platform that will be able to connect the digital world with the real world through the introduction of the technology of distributed ledger in enterprises of various kinds. At the same time, the Ontology platform itself is associated with large blockchain projects.

The ONT Token came out on the crypto exchanges on March 8, 2018. For the analyzed period (from the listing to the present time), the cost of the token has decreased from 2.62 dollars to about 0.60 dollars.

Zilliqa (ZIL). The creators of the blockchain platform Zilliqa are working on solving the problem of scaling deals. Today, 8,238,440,891 coins (which cost 188.7 mln dollars) are traded on the exchanges; the maximum emission threshold is set at 12,599,999,804 ZIL. At the moment, they give about 0.02 dollars for one token, whereas at the time of entry into the crypto exchanges on January 25, 2018, the cost of ZIL was 0.14 dollars.

Paxos Standard Token (PAX). This is the third stablecoin in our review, which is backed by a dollar. It is regulated by the New York City Department of Financial Services (NYDFS). At this point there are 134,230,964 coins in the circulation, the maximum emission level is set at 134 241 056 PAX. The cost of the coin is 1.01 dollars; the capitalization is 136.1 mln dollars.

Pundi X (NPXS). Pundi X is a system that allows developers and cryptocurrency owners to make deals with coins and tokens in traditional stores.

The token NPXS appeared on crypto exchanges on March 22, 2018, and then its value was $ 0.001023. By the end of January 2019, the coin’s price dropped to $ 0.000708. The total cost of all circulating 166,614,999,532 NPXS is more than 117 mln dollars.

Gemini Dollar (GUSD). This is the fourth stablecoin pegged to the dollar. It is also regulated by the Department of Financial Services State of New York. For the first time, the coin appeared on crypto exchanges on October 6. To date, the capitalization of GUSD is $95 mln. There are 93 967 620 coins in circulation. The maximum emission ceiling is not set.

Let’s take a look at the dynamics of cryptocurrency capitalization, which appeared on the exchanges last year and already entered the TOP-50 coins.

Dynamics of the analyzed coins’ capitalization

Conclusion

It becomes clear that the trend of stablecoin development really exists: four out of ten new currencies represent this type of crypto. 2018 became the starting point of this trend, and 2019 will be the year of its expansion; you can read about it in one of our released articles.