ADVERTISEMENT

A Death for the Altcoin Market? Is Bitcoin the only hope for Crypto Space?

ADVERTISEMENT

Must Read

Price Analysis of BTC, ETH, XRP: 19th September

With the recent addition of $53 billion by the Feds in the banking system has affected the price of...

North Korea’s latest weapon: Cryptocurrency

After China, now North Korea is planning to work on building its cryptocurrency to avoid strict international sanctions and...

Arab Switzerland Bank accepting cryptocurrencies: Swiss crypto interest increasing?

As more and more banks are collaborating with fintech firms to enter the growing list of well-known players entering...
Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

Bitcoin has become the 11th largest money in the whole world, and this explains it’s 70% dominance at the global level as compared to all the other cryptocurrencies. This dominance in the market has left crypto analysts and investors worried about the future of altcoins and how they are planning to survive in such a vast market.

Image Credits: CoinTelegraph.com

In the last week, we have seen a growth in the bitcoin price charts as it continues to climb up towards the $12000 milestone, and this gain has lead to an increase in the dominance. The total market of cryptocurrencies is worth $303,923,701,331, and Bitcoin alone has a market cap of $210,442,145,970 and increasing. These figures have left people wondering, and investors have suggested people change their altcoins to BTC and make up for the losses they have faced.

On the 6th of August, we noticed the halving of litecoin, which went from 25 to 12.5, but there was no change in the prices of litecoin. The halving for litecoin is done after every 840,000 blocks, and this time, there was no significant change in the price. For today Bitcoin holds 70% of the total market, followed by Ethereum and XRP that make about 7.50% and 4.28% of the market respectively. Rest 18.22% of the market is taken up by the remaining altcoins but the way things are happening, we can expect that percentage to reduce more in the future.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

Leave a reply

Please enter your comment!
Please enter your name here

Latest News

Price Analysis of BTC, ETH, XRP: 19th September

With the recent addition of $53 billion by the Feds in the banking system has affected the price of...

More Articles Like This