Bitcoin is not only a trendsetting cryptocurrency, but it has also brought about a new wave of cryptocurrencies built upon a decentralized peer-to-peer network. It has also become the standard for cryptocurrency, inspiring a growing number of followers and spinoffs.
It is important to check out other cryptocurrency options and see which are performing well. Bitcoin is not the only cryptocurrency. These are cryptocurrencies that have remained stable despite steep price rises and nosedives.
What are Cryptocurrencies?
Let’s take a look at this alternative to Bitcoin(BTC) before we get into detail. A cryptocurrency is a form of digital money or virtual currency that can be represented as tokens or coins. While some cryptocurrencies have made it into the real world by using credit cards and other projects, most remain intangible.
Cryptography is complex cryptography that permits the creation and processing of digital currencies as well as their transactions across decentralized systems. This important «crypto» feature is also important. Typically, cryptocurrencies are developed by code teams that include mechanisms for issuance, often through a process called mining and other controls.

Although cryptocurrencies are designed to be completely free from government manipulation and control, they have come under fire as a popular industry feature. Altcoins and, in some cases, shitcoins are all cryptocurrencies that have been modeled on Bitcoin. They often present themselves as improved or modified versions of Bitcoin. Altcoins have yet to see the same level of security as Bitcoin’s networks, even though some may have impressive features.
Types of Altcoins
Cryptocurrencies
The purpose of cryptocurrencies is to make payments and transmit value (similar to digital money) through a decentralized network. Altcoins, i.e., those that aren’t Bitcoin or Ethereum, are often classified in this manner and can sometimes be called value tokens.
Tokens
You can also use blockchain-based tokens to serve different purposes than money. A token that is part of an initial cryptocurrency offering (ICO), which represents a stake on a blockchain, or decentralized financing (DeFi) project could be one example. Security tokens can be used if the tokens are tied to the project’s value.

Other tokens are designed for a specific use or function. Other tokens have a specific use case or function.
These are also known as utility tokens. While many crypto users are aware of these differences today, traders and lay investors might not be able to notice them because all token categories tend to trade on cryptocurrency exchanges the same way.
- Ethereum (ETH).
Ethereum, the first Bitcoin alternative, is a decentralized platform that allows smart contracts and decentralized apps (dApps) to be built without downtime, fraud, or control from any third party. Our first Bitcoin alternative, a data-component=»link» data-ordinal=»1″ data-source=»inline link» data type=»internal link» href=»https://www.investopedia.com/terms/d/decentralized–applications–apps.asp?>decentralized applications (dApps) can be built and run without any downtime, fraud, control, or interference from a third party.
Ethereum’s platform-specific cryptographic token, Ether, is used to run applications. Ethereum (ETH) can be used as a vehicle to move around on the Ethereum platform. It is most commonly sought by developers who want to create and run applications within Ethereum or by investors who are looking to purchase other digital currencies using Ethereum.

Although Ether was launched in 2015, it is the second-largest cryptocurrency by market capitalization after Bitcoin. However, it trails the dominant cryptocurrency by a substantial margin. As of September 18, 2022, Ether was trading at $1,383 per Ethereum. However, its market capitalization of $169.5 million was less than half that of Bitcoin. 5
- Tether (USDT).
Tether (USDT) was one of the first and most popular of a group of so-called stablecoins–cryptocurrencies that aim to peg their market value to a currency or other external reference point to reduce volatility. Tether and other stablecoins aim to reduce volatility by smoothing out price fluctuations. Tether’s value is directly tied to the U.S. Dollar. Users can make faster transfers to U.S. Dollars from other cryptocurrencies than when they convert to regular currency.

Tether was launched in 2014. 6 This cryptocurrency allows users to use a blockchain network and other technologies to transact traditional currencies while minimizing the volatility and complexity that often accompany digital currencies.
Tether, which has a market capitalization of $67.9billion, is currently the third-largest cryptocurrency. It also has a token value of $1.00. 7
- USD Coin (USDC).
USD Coin, another stablecoin, also pegs its price to the U.S. Dollar using the fiat-collateralized reserve, which means that it has fiat currency equaling the amount of USD Coin in circulation. It was launched by the Centre Consortium in 2018, which includes Coinbase and Circle. USD Coin is a regulated stablecoin because it is based in the U.S.

USD Coin’s market cap is $55.5 billion, and the price per coin is $1.00 as of September 18, 2022. It was fourth in terms of market cap and trading volume.
- Binance Coin (BNB).
Binance Coin is a utility cryptocurrency used to pay fees for trading on Binance Exchange. It is the third largest cryptocurrency in terms of market capitalization. 11 Users can trade with the token at a discount.
Binance Coin’s blockchain also serves as the platform where Binance’s decentralized currency operates. Changpeng Zhao founded Binance Exchange. It is one of the most popular exchanges based on trading volume.
Binance Coin started out as an ERC-20 token that operated on Ethereum’s blockchain. It was eventually able to launch its own mainnet. It uses a PoS consensus network model. The network uses a PoS consensus model.
- Binance USD (BUSD).
Binance USD is a stablecoin that was pegged to U.S. dollars. It was created by Binance, a cryptocurrency exchange. The New York State Department of Financial Services approved the stablecoin. 12
BUSD traded at $1.00 per coin on September 18, 2022, with a market capitalization of $20.5 billion. 13
- XRP
XRP, the native token of the XRPLedger, was created by Ripple as a payment method in 2012. The consensus mechanism used by the XRP Ledger Consensus Protocol is a consensus mechanism that doesn’t require proof-of-work or proof-of-stake for validation and consensus. Instead, clients sign applications and send transactions to ledger servers. The servers review the transactions and determine if the transactions are eligible for entry into the ledger.
The servers send the transaction candidates to validators. They work to verify that the servers have done the right thing and record the ledger version. 14
XRP traded at $0.39 on September 18, 2022, with a market capitalization of $19.6 Billion. 15
- Cardano (ADA)

Cardano is an «Ouroboros proof of stake» cryptocurrency that was created using a research-based approach. It was developed by engineers, mathematicians, and cryptography specialists. Charles Hoskinson was one of the original five founders of Ethereum. He was unhappy with the direction Ethereum was going, and he later left to help create Cardano.
Cardano’s team created the blockchain through extensive experimentation and peer review. Cardano’s researchers have published more than 120 papers on various topics related to blockchain technology.
Cardano is able to stand out from its PoS peers as well as other notable cryptocurrencies due to this rigorous process. Cardano is also known as an «Ethereum Killer» due to its ability to do more than the blockchain. Cardano is still very young. Although it beat Ethereum to the PoS consensus model, it still has a lot of work to do regarding DeFi applications.
Cardano’s goal is to become the world’s financial operating platform by creating DeFi products that are similar to Ethereum’s, as well as providing solutions for chain interoperability and voter fraud. Cardano, with a market capitalization of $15.9billion, is the eighth largest. One ADA was traded for $0.47.
- Solana (SOL)
Solana was founded in 2017 and is a Blockchain platform that supports decentralized applications (dApps). Solana is also known as the ‘Ethereum Killer’ because it performs more transactions per second than Ethereum. It also charges fewer transaction fees than Ethereum.
Solana can use smart contracts to run cutting-edge applications such as decentralized finance (DeFi) and nonfungible tokens. The two systems have fundamental differences.
Ethereum uses a proof-of-work blockchain. This means that miners compete to solve complex puzzles in order to validate transactions. This technology is more energy-intensive and, therefore, more harmful to the environment. Solana, on the other hand, uses proof-of-stake (PoW), which is less damaging than PoW.
Solana is a cryptocurrency that runs on the Solana Blockchain. Its price has increased tremendously since its inception. Solana’s market capitalization was $11.5 billion. It was valued at $32.46 on September 18, 2022. This made it the ninth-largest cryptocurrency in terms of market cap 18.
- Dogecoin (DOGE).

Dogecoin(DOGE), considered by many to be the original «meme coin,» was a big hit in 2021 when its price soared. Some major companies accept the Shiba Inu image as payment.
Two software engineers, Jackson Palmer and Billy Markus created Dogecoin in 2013. According to reports, Palmer and Markus created Dogecoin as a joke in response to the wild speculation surrounding the cryptocurrency market.
Dogecoin’s market capitalization stood at $7.9 Billion as of September 18, 2022. One DOGE was worth approximately $0.06, making it the 10th largest cryptocurrency.