Rank

What Is Rank?

A cryptocurrency's rank is the position it holds in the market. A digital currency's rank is often determined by its market capitalization. Market capitalization, or market cap, is computed by multiplying the price of a cryptocurrency at any given time by its circulating supply. 

Some ranking tools evaluate an asset's 24-hour trading volume in addition to price and circulating supply. Bitcoin has been the top digital money since its inception. Despite being dethroned by Ripple, Ethereum has mostly maintained its second-place ranking (XRP). 

XRP was generally ranked third until Ripple encountered security allegations with the SEC, which prompted its coin to plummet in both market price and rank. Besides Bitcoin, the remainder of the coins' rankings fluctuate based on market sentiment and price movement.

Some Examples of Ranking Competitions

BTC, ETH, XRP, Tether (USDT), Litecoin (LTC), Bitcoin Cash (BCH), Chainlink (LINK), Cardano (ADA), Polkadot (DOT), EOS (EOS), and Monero are some of the coins competing for the top ten rankings (XMR). Because a cryptocurrency's ranking is mostly determined by its market capitalization, investor attitudes and industry news play a significant effect.