Top 10 Cryptocurrencies

• Market cap: $US2.07 trillion
• Year-over-year return: 55%

Created in 2009 by Satoshi Nakamoto, bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain—a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called “proof of work”, bitcoin is kept secure and safe from fraudsters.

Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one bitcoin for about $US500. As of June 2, 2025, a single bitcoin’s price was around $US104,453.

• Market cap: $US299 billion
• Year-over-year return: -34%

Both a cryptocurrency and a blockchain platform, Ethereum is a favourite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met, and non-fungible tokens (NFTs).

Ethereum has also experienced tremendous growth. From April 2016 to June 2, 2025, its price went from about $US11 to $US2,484.

• Market cap: $US153 billion
• Year-over-year return: 0%

Unlike some other forms of cryptocurrency, Tether (USDT) is a stablecoin, meaning it’s backed by fiat currencies like US dollars and the euro, and thus hypothetically keeps a value equal to one of those denominations. In theory, this makes Tether’s value more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.

• Market cap: $US126 billion
• Year-over-year return: 317%

Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.

At the beginning of 2017, the price of XRP was $0.006. As of June 2, 2025, its price reached $US2.14.

• Market cap: $US91.8 billion
• Year-over-year return: 9.1%

Binance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or bitcoin.

BNB’s price in 2017 was just $0.10. By 2 June 2025, its price had risen to around $US652.26.

• Market cap: $US80.4 billion
• Year-over-year return: -6.3%

Developed to help power decentralised finance (DeFi) uses, decentralised apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms to process transactions quickly and securely. SOL, Solana’s native token, powers the platform.

When it launched in 2020, SOL’s price started at $0.77. By June 2, 2025, its price was around $US154.

• Market cap: $US60.9 billion
• Year-over-year return: 0%

Like Tether, USD Coin (USDC) is a stablecoin, meaning it’s backed by US dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.

• Market cap: $US28.4 billion
• Year-over-year return: 20.7%

Dogecoin was famously started as a joke in 2013 but rapidly evolved into a prominent cryptocurrency thanks to a dedicated community and creative memes. Unlike many other cryptos, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.

Dogecoin’s price in 2017 was $US0.0002. By June 2025, its price was at $US0.19.

• Market cap: $US25.4 billion
• Year-over-year return: 135%

Much like Solana, TRON is a blockchain designed to run smart contracts and other DeFi applications. TRX is the platform’s native cryptocurrency, which powers its proof-of-stake consensus algorithm.

TRON was founded in 2017, and TRX was initially valued at $US0.0019 per token. At its peak in 2018, TRX spiked as high as $US0.2245, for a gain of 11,715% in a matter of months. TRX is currently valued around $US0.26.

• Market cap: $US23.5 billion
• Year-over-year return: 48.6%

Somewhat late to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification in platforms like bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralised applications, which ADA, its native coin, powers.

Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $US0.02. As of June 2, 2025, its price was $US0.66.

*Market caps and pricing sourced from coinmarketcap.com, current as of June 2, 2025.

Cryptocurrency is a form of currency that exists solely in digital form. Cryptocurrency can be used to pay for purchases online without going through an intermediary, such as a bank, or it can be held as an investment.

Cryptocurrencies are various forms of digital money that are usually based on blockchain technology. This allows most cryptocurrencies to exist as “trustless” forms of transactions. This means there is no centralised authority overseeing the transactions on a cryptocurrency’s blockchain.

Cryptocurrency is an emerging area with more than 9,000 crypto projects as of March 2024.

While some cryptos function as currencies, others are used to develop infrastructure. For instance, in the case of Ethereum or Solana, developers are building other cryptos on top of these platform currencies, and that creates even more possibilities (and cryptos).

There are both pros and cons to investing in cryptocurrencies. Some of the most common ones an investor might run into are:

When choosing the best cryptocurrency to invest in, it is important to consider your individual goals, investing timeline and risk profile, just as you would with any investment. Additionally, you should do your due diligence to make sure that any crypto project you are interested in is legitimate and secure.

In general, investors should consider the following when evaluating a crypto:

• Market capitalisation
• Liquidity
• Security
• Use case

You can buy cryptocurrencies through crypto exchanges, such as Coinbase, Kraken or Gemini. In Australia, popular local players include Swyftx, CoinJar and Independent Reserve.

The cost depends on a number of factors, including which crypto you are buying. Many small altcoins trade for a fraction of a cent, while a single bitcoin will cost you more than $150,000 AUD as of June, 2025. However, many brokerages and exchanges now allow fractional trading, offering investors the option to buy a portion of a cryptocurrency.

There are also often costs and maker/taker fees associated with having a crypto wallet and/or an account on a brokerage or crypto exchange. Be sure that you understand all of the costs associated with buying and holding any cryptocurrency before you invest.

You may be wondering if the Australian Tax Office (ATO) will be aware of your crypto trading. The short answer is: yes. If you buy and sell coins, it’s important to pay attention to cryptocurrency tax rules or you will face stiff penalties via the ATO. Learn more in our guide here.