Ranked by their value in Bitcoin (BTC) terms and converted to USD using Bitcoin’s price of $94,487.41 (as of May 2025) 9:
- Chinese Yuan (CNY)
- Market Cap: 476,098,889 BTC ≈ $45.0 trillion
- Dominance: ~33% of total fiat market cap.
- US Dollar (USD)
- Market Cap: 233,121,074 BTC ≈ $22.0 trillion
- Dominance: ~16.2%
- Euro (EUR)
- Market Cap: 187,381,605 BTC ≈ $17.7 trillion
- Japanese Yen (JPY)
- Market Cap: 117,725,445 BTC ≈ $11.1 trillion
- British Pound (GBP)
- Market Cap: 51,306,326 BTC ≈ $4.85 trillion
- South Korean Won (KRW)
- Market Cap: 43,518,118 BTC ≈ $4.11 trillion
- Indian Rupee (INR)
- Market Cap: 33,472,267 BTC ≈ $3.16 trillion
- All Digital Currencies combined ≈ 3 Trillon
- Canadian Dollar (CAD)
- Market Cap: 29,658,285 BTC ≈ $2.80 trillion
- Hong Kong Dollar (HKD)
- Market Cap: 25,972,723 BTC ≈ $2.45 trillion
- Brazilian Real (BRL)
- Market Cap: 22,794,456 BTC ≈ $2.15 trillion
- New Taiwan Dollar (TWD)
- Market Cap: 22,473,016 BTC ≈ $2.12 trillion
- Australian Dollar (AUD)
- Market Cap: 21,564,853 BTC ≈ $2.04 trillion
- Bitcoin (BTC)
- Market Cap: 19,860,165 BTC ≈ $1.88 trillion 9
- Swiss Franc (CHF)
- Market Cap: 15,072,021 BTC ≈ $1.42 trillion
- Russian Ruble (RUB)
- Market Cap: 14,944,426 BTC ≈ $1.41 trillion
- Mexican Peso (MXN)
- Market Cap: 9,951,677 BTC ≈ $940 billion
- Saudi Riyal (SAR)
- Market Cap: 8,649,266 BTC ≈ $817 billion
- Thai Baht (THB)
- Market Cap: 8,556,621 BTC ≈ $808 billion
- UAE Dirham (AED)
- Market Cap: 8,061,926 BTC ≈ $761 billion
- Polish Złoty (PLN)
- Market Cap: 7,079,280 BTC ≈ $669 billion
Top Cryptocurrencies by Market Cap 9
Excluding stablecoins, the largest cryptocurrencies as of May 2025:
- Bitcoin (BTC): $1.88 trillion
- Ethereum (ETH): $218.7 billion
- XRP (XRP): $126.2 billion
- BNB (BNB): $82.6 billion
- Solana (SOL): $74.6 billion
- Dogecoin (DOGE): $25.5 billion
- Cardano (ADA): $23.9 billion
- TRON (TRX): $23.4 billion
- Sui (SUI): $10.9 billion
- Chainlink (LINK): $9.1 billion
Key Observations:
- Fiat Dominance: Traditional currencies like CNY, USD, and EUR dominate global circulation due to their role in international trade and central bank policies 1.
- Bitcoin’s Position: Despite being the largest cryptocurrency, Bitcoin’s market cap ($1.88 trillion) ranks below most major fiat currencies 19.
- Stablecoins: Tether (USDT) and USDC hold significant market shares (149.4Band149.4Band61.5B, respectively) but are excluded from rankings due to their pegged nature 9.
- Emerging Cryptos: Solana and Sui highlight the rise of high-speed, scalable blockchains 56.
1. Total Cryptocurrencies and Tokens
- Over 37 million tokens exist globally, with many created on blockchains like Solana, Base, and Binance Smart Chain. However, most are inactive, experimental, or memecoins with little long-term value.
- ~17,000–25,000 listed cryptocurrencies: Platforms like CoinMarketCap track 17,134 cryptocurrencies (as of April 2025), while only 10,385 are considered active. Similarly, CoinGecko lists 16,965 coins.
2. Growth Trends
- Daily token creation: Approximately 5,300 new tokens are launched daily in 2024–2025, driven by platforms like Pump.fun and memecoin frenzies.
- Yearly growth: The number of tokens surged from 443,513 in 2021 to 2.52 million by April 2024, reflecting a 5.7x increase. This growth is fueled by speculative activity and easier tokenization tools.
3. Market Concentration
- Bitcoin (BTC) and Ethereum (ETH) dominate, accounting for ~75% of the total crypto market cap ($2.96 trillion as of 2025).
- Top 10 cryptocurrencies (e.g., BTC, ETH, XRP, USDT) hold over 85% of the market value, while smaller projects struggle for relevance.
4. Failure Rate and Sustainability
- Over 50% of cryptocurrencies have failed: Reasons include scams, low trading volumes, or abandoned projects. Between 2013–2025, 12,383 cryptocurrencies became defunct313.
- Memecoins and transient tokens: Seasonal spikes (e.g., political memecoins like TRUMP) contribute to high token creation but low longevity.
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