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A league table of the *** cryptocurrencies with the highest market cap reveals how diverse each crypto is and potentially how much risk is involved when investing in one. Bitcoin (BTC), for instance, had a so-called “high cap”—a “market cap worth more than ** billion U.S. dollars—indicating this crypto project has a certain track record or, at the very least, is considered a major player in the cryptocurrency space. This is different in Decentralize Finance (DeFi), where Bitcoin is only a relatively new player.

A concentrated market

The number of existing cryptocurrencies is several thousands, even if most have a limited significance. Indeed, Bitcoin and Ethereum account for nearly **percent of the entire crypto market capitalization. As crypto is relatively easy to create, the range of projects varies significantly—from improving payments to solving real-world issues, but also meme coins and more speculative investments.

Crypto is not considered a payment method

While often talked about as an investment vehicle, cryptocurrencies have not yet established a clear use case in day-to-day life. Central bankers found the usefulness of crypto in domestic payments or remittances to be negligible. A forecast for the world's main online payment methods took a similar stance: It predicts that cryptocurrency would only take up *** percent of total transaction value by 2027.