Crypto Tier List for 2024 ranked from E to S (updated)

I did one of these a couple years ago, and the cryptocurrency market has changed quite a lot since. I think we’re overdue a new Tier List.

Just like last time, I will be ranking the top 20 Cryptocurrencies by marketcap on a on a tier list from F to S, and provide the rationale behind it.

The ranking will take into consideration how close each one is to solving the blockchain trilemma as well as the utility that they bring to the crypto world. So the ranking factors are:

• Decentralization
• Scalability
• Security
• Utility

While the ranking is mostly data-driven, and I will aim to provide rationale behind each decision, it is ultimately my own interpretation and opinion of how well each chain ranks in each of the above categories.

I’m excluding stablecoins and the rationale for each coin will be short and straight to the point — no deep dives. After much consideration I’ve decided to include memecoins this time around.

With this as our initial set-up, let the ranking commence.

F Tier — bottom of the barrel

• Kaspa (KAS)

This one took me by surpsise. Kaspa works to create a mobile, borderless settlement layer for cryptocurrency. If that doesn’t mean much to you is because it isn’t.

Reading through their mission statement I couldn’t find anything remotely unique about this project, with the exception of zero fee transactions between individual wallets. However, in order to take advantage of that, you need to go to the Kaspa faucet, and get yourself some change effectively offsetting the fees — so transactions are not technically free.

Kaspa is not decentralised, but promises they are working on it. Kasta has been accused of being an “influencer coin” and allegedly having airdropped massive amounts of the supply to influencers as part of their marketing campaign.

Whatever use cases the project may have had, it’s overshadowed by the reckless influencer dumps, stifling growth and adoption.