Published by Dec 5, 2023
Bitcoin ranked as one of the most expensive cryptocurrencies in existence by August 2023 - although values had declined significantly. Bitcoin had the most expensive cryptocurrency for a while but Ethereum was significantly cheaper, with a price that was roughly 30 times less than that of the most well-known digital currency. However, Bitcoin is in a somewhat unique position. Ethereum is one of several cryptocurrencies, for instance, that come from blockchains that focus on making financial applications possible.
Bitcoin, or a digital equivalent of gold
When one categorizes the different types of cryptocurrencies, Bitcoin stands out as it is one of the few that are essentially meant to store digital value. Some describe Bitcoin as a digital version of gold, purely designed to hold or possibly purchasing power over time. It has no other applications built around it, and is considered too slow to perform financial transactions.
Stablecoins, the less volatile cryptocurrency
Several coins in this ranking stand out as their price seemingly has not changed as much as others. This is because these are stablecoins - cryptocurrencies pegged to the price development of external asset. This group of digital assets make up an increasing share within the overall crypto market. Some see these coins as the future of retail payments, whereas others view these coins as a "safe" addition to their crypto investments.
Price development of the top 100 cryptocurrencies as of December 5, 2023 (in U.S. dollars)
| Characteristic | Price (in U.S. dollars) | 24h price change | 7d price change | 30d price change |
|---|---|---|---|---|
| Bitcoin (BTC) | $41,719.0 | 0.3% | 12.9% | 19% |
| Ethereum (ETH) | $2,209.14 | -1.8% | 10.1% | 17.5% |
| Tether (USDT) | $1 | 0% | 0.1% | 0% |
| Binance Coin (BNB) | $230.07 | -1.8% | 1.9% | -5.2% |
| Ripple (XRP) | $0.61 | -3.5% | 2.5% | -1.2% |
| Solana (SOL) | $60.18 | -5% | 9.5% | 45.6% |
| USDC (USDC) | $1 | 0.1% | 0.1% | 0.1% |
| Lido Staked Ether (STETH) | $2,205.53 | -2.3% | 10% | 17% |
| Cardano (ADA) | $0.4 | -1.8% | 8.3% | 20.6% |
| Dogecoin (DOGE) | $0.09 | -0.6% | 15% | 27.8% |
| TRON (TRX) | $0.1 | -2% | 1.3% | 4.9% |
| Chainlink (LINK) | $15.4 | -3.8% | 10.2% | 26.9% |
| Toncoin (TON) | $2.37 | -3.4% | -2.1% | 4.4% |
| Avalanche (AVAX) | $22.18 | -2.4% | 12.7% | 79.6% |
| Polkadot (DOT) | $5.66 | -0.4% | 10.6% | 18.3% |
| Polygon (MATIC) | $0.79 | -3.6% | 8.4% | 16.7% |
| Wrapped Bitcoin (WBTC) | $41,647.0 | 0.2% | 12.7% | 18.8% |
| Litecoin (LTC) | $72.18 | -3.1% | 5.9% | 1.6% |
| Dai (DAI) | $1 | -0.1% | 0% | -0.2% |
| Shiba Inu (SHIB) | $0 | -2.9% | 11.6% | 10.9% |
| Bitcoin Cash (BCH) | $240.94 | -3.3% | 8.8% | 0.7% |
| Uniswap (UNI) | $6.06 | -1.4% | -1.4% | 26.7% |
| LEO Token (LEO) | $3.71 | -0.7% | -5.2% | -5.9% |
| OKB (OKB) | $57.22 | -4.3% | 2.6% | 19% |
| Stellar (XLM) | $0.12 | -2.9% | 4.7% | -1.8% |
| Monero (XMR) | $169.68 | -1.3% | 2.8% | -0.2% |
| Kaspa (KAS) | $0.14 | -5.1% | 11.8% | 134.1% |
| TrueUSD (TUSD) | $1 | 0.2% | 0.2% | 0% |
| Cosmos Hub (ATOM) | $9.66 | -0.9% | 8.9% | 14.8% |
| Ethereum Classic (ETC) | $19.57 | -3.1% | 6.8% | 11.5% |
| Cronos (CRO) | $0.09 | -3.2% | 4.8% | 38.7% |
| Internet Computer (ICP) | $5.03 | -1% | 13.5% | 22.1% |
| NEAR Protocol (NEAR) | $2.2 | 3.5% | 26.4% | 39.2% |
| Filecoin (FIL) | $4.64 | -3.2% | 6% | 14.8% |
| Hedera (HBAR) | $0.06 | 2.1% | 8.5% | 15.6% |
| Lido DAO (LDO) | $2.37 | -3.3% | 2.3% | 18.5% |
| Aptos (APT) | $7.49 | -0.3% | 10.5% | 5.8% |
| Bittensor (TAO) | $333 | -4.1% | 40.6% | 240.2% |
| THORChain (RUNE) | $6.33 | -7.5% | 18.6% | 87.3% |
| Immutable (IMX) | $1.45 | 1.5% | 12.2% | 53.8% |
| Mantle (MNT) | $0.57 | 0.9% | 13.2% | 36.7% |
| VeChain (VET) | $0.02 | -0.3% | 13.9% | 18.1% |
| BUSD (BUSD) | $1 | 0.1% | 0.1% | 0.2% |
| Optimism (OP) | $1.75 | -2.8% | 2.2% | 14.8% |
| Stacks (STX) | $1.12 | 34.3% | 77.8% | 72.5% |
| Quant (QNT) | $101.34 | -1.1% | 4.5% | 0.5% |
| Aave (AAVE) | $97.13 | -4.7% | 3.7% | 8.4% |
| The Graph (GRT) | $0.15 | 0.3% | 8.6% | 18.2% |
| Terra Luna Classic (LUNC) | $0 | -8.9% | 154.3% | 266.9% |
| Injective (INJ) | $16.39 | -6.9% | 3.5% | 5% |
| Arbitrum (ARB) | $1.07 | -5% | 8% | -1.7% |
| Maker (MKR) | $1,467.15 | -2.6% | 0.3% | 9.9% |
| Render (RNDR) | $3.54 | -7.9% | 12.9% | 52% |
| MultiversX (EGLD) | $50.18 | -1.8% | 17.4% | 4% |
| Rocket Pool ETH (RETH) | $2,418.19 | -2.1% | 10.4% | 16.8% |
| Celestia (TIA) | $8.51 | -7.7% | 48.4% | 256.3% |
| Algorand (ALGO) | $0.15 | -1.3% | 16.4% | 27.9% |
| Flow (FLOW) | $0.81 | 15% | 27.5% | 42.5% |
| Synthetix Network (SNX) | $3.59 | -5.2% | 11.6% | 45.7% |
| Theta Network (THETA) | $1.13 | 5.2% | 23.5% | 44.2% |
| First Digital USD (FDUSD) | $1 | 0% | 0.2% | 0.1% |
| ORDI (ORDI) | $50.13 | 17.9% | 154.4% | 614.7% |
| Bitcoin SV (BSV) | $50.06 | -4.3% | 10.9% | -0.6% |
| IOTA (IOTA) | $0.32 | -9.1% | 90.8% | 86.5% |
| The Sandbox (SAND) | $0.45 | 2.9% | 14.8% | 21% |
| Axie Infinity (AXS) | $7.04 | 3.6% | 4.2% | 24.4% |
| KuCoin (KCS) | $9.56 | 15.4% | 26.3% | 97.7% |
| Fantom (FTM) | $0.32 | -0.3% | 11.3% | 22.9% |
| GALA (GALA) | $0.03 | 8.2% | 18.4% | 52.5% |
| Decentraland (MANA) | $0.47 | 3.5% | 10.7% | 17.4% |
| WEMIX (WEMIX) | $2.6 | -6.5% | 41.8% | 52% |
| NEO (NEO) | $11.96 | -3.5% | 12.5% | 2.9% |
| EOS (EOS) | $0.72 | 0.2% | 7.7% | 9.1% |
| Kava (KAVA) | $0.81 | -0.6% | 10.1% | 15.4% |
| WhiteBIT Coin (WBT) | $5.49 | 0.6% | 1.7% | 1.3% |
| Tezos (XTZ) | $0.87 | 0.2% | 10.5% | 8.9% |
| Mina Protocol (MINA) | $0.74 | -1.2% | 8.7% | 22.7% |
| Conflux (CFX) | $0.21 | 24.3% | 39.7% | 34.4% |
| Bitget Token (BGB) | $0.52 | -1.7% | -1.4% | 7.6% |
| USDD (USDD) | $0.99 | -0.2% | -0.9% | -1.7% |
| XDC Network (XDC) | $0.05 | -3.5% | 2.7% | -4.3% |
| Klaytn (KLAY) | $0.21 | 0.6% | 5.2% | 46% |
| Frax (FRAX) | $1 | 0.1% | 0.2% | 0.1% |
| Terra (LUNA) | $1.12 | -4.1% | 59.4% | 143.7% |
| Frax Ether (FRXETH) | $2,204.94 | -2.2% | 9.7% | 17.4% |
| Tokenize Xchange (TKX) | $8.17 | -0.3% | 15.3% | 36.4% |
| Illuvium (ILV) | $107.32 | -4.3% | 1.7% | 61.8% |
| Sui (SUI) | $0.63 | 1.7% | 10.9% | 29% |
| Frax Share (FXS) | $8.6 | -1.1% | 21.9% | 31.2% |
| Pyth Network (PYTH) | $0.43 | -2.1% | 4.5% | 0% |
| Cheelee (CHEEL) | $11.97 | 0% | 11% | 27.3% |
| Sei (SEI) | $0.3 | 0.9% | 33.5% | 147.7% |
| Blur (BLUR) | $0.55 | -0.8% | 12.6% | 92.8% |
| Rocket Pool (RPL) | $30.55 | -2.7% | 14.8% | 25.4% |
| ApeCoin (APE) | $1.64 | -0.2% | 4.6% | 14.4% |
| PancakeSwap (CAKE) | $2.35 | -2.9% | 8.9% | 8.9% |
| eCash (XEC) | $0 | -3.1% | 9.2% | 2.8% |
| Pepe (PEPE) | $0 | -0.7% | 30.3% | 21.7% |
| Gate (GT) | $4.22 | -2.1% | 0.6% | 9.5% |
| Beam (BEAM) | $0.01 | -3.6% | 42.9% | 153.7% |
Embed this statistic (FAQ)
As a seasoned enthusiast and expert in the realm of cryptocurrencies, I delve into the intricate details of the financial instruments and investments associated with digital assets. My extensive knowledge is rooted in practical experience and a deep understanding of the ever-evolving crypto landscape. Allow me to dissect the information provided in the article titled "Bitcoin ranked as one of the most expensive cryptocurrencies in existence by August 2023" and shed light on the key concepts mentioned.
Bitcoin and Ethereum Dynamics: The article asserts that Bitcoin, despite its significant decline in value by August 2023, remained one of the most expensive cryptocurrencies. Ethereum, on the other hand, emerged as a more affordable alternative, with a price approximately 30 times less than Bitcoin. The unique positioning of Bitcoin is emphasized, likening it to a digital version of gold primarily designed for storing value, as opposed to Ethereum, which is part of a blockchain ecosystem facilitating financial applications.
Stablecoins and Price Stability: The article introduces the concept of stablecoins, a category of cryptocurrencies designed to maintain price stability by being pegged to the value of external assets. These coins, including Tether (USDT), are highlighted for their relatively stable prices compared to other more volatile cryptocurrencies. The discussion touches upon divergent views on stablecoins, with some considering them as the future of retail payments and others viewing them as a secure addition to their crypto investments.
Cryptocurrency Price Development: The article provides a snapshot of the price development of the top 100 cryptocurrencies as of December 5, 2023. It includes essential information such as the current price in U.S. dollars, the 24-hour price change, and the 7-day and 30-day price changes for each cryptocurrency. Notable cryptocurrencies listed include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Ripple (XRP), Solana (SOL), and many others.
Market Trends and Predictions: The data reveals various market trends, with some cryptocurrencies experiencing positive trends, such as Solana's significant 45.6% 30-day price change, while others face declines. The rankings reflect the dynamic nature of the crypto market, with coins like Avalanche (AVAX) and THORChain (RUNE) showcasing substantial price changes.
Diversity in Cryptocurrency Ecosystem: The diverse range of cryptocurrencies is evident, each with its unique characteristics and applications. From decentralized finance (DeFi) tokens like Uniswap (UNI) to stablecoins like DAI and utility tokens like Chainlink (LINK), the crypto ecosystem offers a plethora of options for investors and enthusiasts.
In conclusion, the article provides a comprehensive overview of the cryptocurrency landscape, covering the dynamics of major players like Bitcoin and Ethereum, the stability of stablecoins, and the varied price developments within the top 100 cryptocurrencies. This information is crucial for anyone navigating the complex and dynamic world of digital assets.
