The crypto economy closes 2022 with a total market value of approximately $797.95 billion, and the top ten crypto assets by market cap account for a significant portion of that value. According to watchlist data from CoinGecko (CG) and CoinMarketCap (CMC), Bitcoin (BTC) is the most-watched cryptocurrency of 2022, appearing on a combined total of 4,848,865 watchlists.
Watchlists: A Key Tool for Tracking Assets
In traditional finance, investors create watchlists for stocks and commodities to monitor price movements. Similarly, crypto users on CG and CMC can add their preferred coins to a personal watchlist. As of December 29, 2022, Bitcoin leads with 1,192,111 lists on CG and 3,656,754 on CMC, totaling 4.85 million. Ethereum (ETH) follows with 4,109,238 watchlists (CG: 1,104,484, CMC: 3,004,754).
ADA, BNB, and XRP Among the Top Watched
Behind BTC and ETH, Cardano (ADA) ranks third with approximately 2.94 million watchlists, Binance Coin (BNB) with 2.45 million, and Ripple (XRP) with about 2.21 million. Dogecoin (DOGE) garners 2.14 million watchlists, while Polygon (MATIC) accumulates 1.84 million. Among stablecoins, Tether (USDT) leads with approximately 1.52 million watchlists, far ahead of USDC (~359,000) and BUSD (~351,000). Notably, Shiba Inu (SHIB), despite ranking 15th by market cap, has 2.38 million watchlists, reflecting strong retail interest.
Top 10 Assets Dominate Market Share
At 2:30 p.m. ET on December 29, the combined market cap of the top ten crypto assets stood at roughly $676.08 billion, representing 84.72% of the entire crypto economy. The watchlist data underscores investors' concentrated focus on major assets, while stablecoins see lower watchlist counts, possibly due to their lower volatility.