VanEck is a global investment manager with offices around the world. To help you find content that is suitable for your investment needs, please select your country and investor type.
Half of the top-20 cryptocurrencies use the Ethereum blockchain infrastructure. Transactions in these cryptocurrencies need to be paid for in Ethereum, stoking demand for Ethereum.
Half of the top-20 cryptocurrencies are based on the Ethereum blockchain
Position | Currency | Based on Ethereum |
1 | Bitcoin | No |
2 | Ethereum | Yes |
3 | Tether | Yes |
4 | BNB | Yes |
5 | USD Coin | Yes |
6 | XRP | No |
7 | Cardano | No |
8 | Dogecoin | No |
9 | Solana | No |
10 | Polygon | Yes |
11 | Litecoin | No |
12 | TRON | No |
13 | Polkadot | No |
14 | Binance USD | Yes |
15 | Shiba Inu | Yes |
16 | Avalanche | No |
17 | Dai | Yes |
18 | Wrapped Bitcoin | Yes |
19 | Chainlink | Yes |
20 | UNUS SED LEO | Yes |
Source: Coingecko.com and Etherscan.io. Data as of May 2023.
Risk: Investors should consider risks before investing. See Main Risk Factors section on this website.
An ecosystem of applications is developing around Ethereum. According to State of the Dapps, there are 2,962 applications and the number is increasing steadily1.
Examples applications:
Finance (trading / lending / investment)
Prediction markets
Social
Games
Advertisement
1Note that according to stateofthedapps.com, a number of these apps are rated High Risk. Stateofthedapps.com usage data indicates that from the total list of Ethereum apps, the far majority currently has no active users or developers anymore.
Source: TheDefiant.io, dappradar.com, stateofthedapps.com. Data as of May 2022. VanEck does not guarantee the correctness of these lists, does not endorse any of these websites, has not verified the functioning of these website, or does take any responsibility from losses related usage of these websites.
Risk: Investors should consider risks before investing. See Main Risk Factors section on this website.