List of Cryptocurrencies by Market Cap in 2017

Introduction

In 2017, the cryptocurrency market experienced significant growth and development. As the industry continued to evolve, the market capitalization of various cryptocurrencies changed dramatically. This article will provide an overview of the top cryptocurrencies by market cap in 2017.

What is Market Cap?

Market capitalization, commonly known as market cap, is a metric used to determine the total value of a cryptocurrency. It is calculated by multiplying the total number of coins or tokens in circulation by the current price per coin or token. Market cap is an important factor in determining the strength and stability of a cryptocurrency.

Top Cryptocurrencies by Market Cap in 2017

1. Bitcoin (BTC)

As the first and most popular cryptocurrency, Bitcoin dominated the market in 2017. With a market cap of over $200 billion, Bitcoin held the largest market share and continued to attract investors and developers.

2. Ethereum (ETH)

Ethereum, the second-largest cryptocurrency, saw significant growth in 2017. Its market cap increased substantially, making it a major competitor to Bitcoin. Ethereum's smart contract capabilities and decentralized application platform attracted developers and businesses.

3. Ripple (XRP)

Ripple, a real-time global settlement system, experienced remarkable growth in 2017. Its token, XRP, saw an increase in market cap, making it one of the top three cryptocurrencies. Ripple's focus on cross-border payments and partnerships with financial institutions contributed to its popularity.

4. Bitcoin Cash (BCH)

Bitcoin Cash, a spin-off of Bitcoin, emerged as a major cryptocurrency in 2017. Its market cap grew rapidly, making it a notable contender in the cryptocurrency space. Bitcoin Cash offered faster and cheaper transactions compared to its parent coin.

5. EOS

EOS, a blockchain-based platform designed for enterprise use, gained popularity in 2017. Its market cap increased significantly, making it one of the top cryptocurrencies. EOS offered high scalability and the ability to host decentralized applications, attracting both developers and businesses.

Conclusion

In 2017, the cryptocurrency market experienced significant growth and development. The top cryptocurrencies by market cap were Bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS. Each cryptocurrency had its own unique features and use cases, contributing to the diversity and growth of the cryptocurrency industry. As the industry continues to evolve, we can expect further changes in market capitalization and the emergence of new cryptocurrencies.