Since the advent of Bitcoin, 7 years ago, there have been over 1000+ different cryptocurrencies based on Satoshi Nakamoto's idea. The vast majority of these are mere clones of the original adding nothing to the technology itself. There are also some that partially solve the problems faced by Bitcoin and introduce new innovative solutions. Since the emergence of Bitcoin, 7 years ago, there have been over 1000+ different cryptocurrencies based on Satoshi Nakamoto's idea. The vast majority of them are mere clones of the original bringing nothing to the technology itself. There are also some that partially solve the problems faced by Bitcoin and introduce new innovative solutions. How does Bitcoin currently stand against such numerous and sometimes more innovative competitors? Is Bitcoin still the king of cryptocurrencies? After 7 years, we can continue to say that it definitely is. Despite the numerous competitors, Bitcoin still remains number one among cryptocurrencies. The most authoritative way to judge the popularity of a given cryptocurrency is by its capitalization, infrastructure and acceptances, and volume on exchanges. Capitalization Capitalization is the value of all coins of a given cryptocurrency in circulation. For Bitcoin it is currently $11.3 billion (PLN 46 billion) at a rate of $709 per 1BTC. This means that if all 15.96 million Bitcoins that have been mined so far were sold at the exchange rate of $709, the amount of $11.3 billion would be obtained. Of course, capitalization is just pure theory. In practice, with such a sale, the last bitcoin sellers would get a price not of $709 but probably of a few cents. A sudden sale of even 10% of all bitcoin, in the short term would bring the exchange rate down to the first floor. One should also not suggest instantaneous capitalization. It has happened more than once that a completely new exotic currency for a very short period of time and at an expense of just a few dollars reached a capitalization greater than bitcoin and then normalized at a level thousands of times smaller. This is the effect of a short-term boom for a given cryptocurrency or the result of a speculative bubble. Nevertheless, the capitalization, or rather its average over a long period of time, gives a good indication of the condition and popularity of a given cryptocurrency and those where the potential may lie. Bitcoin's capitalization and the most popular cryptocurrencies Bitcoin's capitalization VS TOP100 cryptocurrencies As we can see, it is Bitcoin that owns about 80% of the total capitalization of all cryptocurrencies. So far, its position seems to be unthreatened. Infrastructure and acceptances Bitcoin in terms of infrastructure and places accepting it is undoubtedly the undisputed leader. While Bitcoin acceptance sites can be counted in the thousands, other cryptocurrencies boast a few dozen or mostly none besides the exchanges on which they are available. Here it is easy to see that other cryptocurrencies with few exceptions tend to remain a purely speculative tool with no concrete applications. Trading volume on exchanges Volume is the value of transactions conducted on exchanges. For example, if on a given day there were 50 buy operations at 1BTC and 50 sell operations at 1BTC, the volume will be 100BTC or $70900 (at a rate of $709). Here, as in the case of capitalization, you should not suggest the instantaneous volume. Average monthly volume ($) of the most traded cryptocurrencies on popular exchanges In the case of trading volume, the result is quite similar to that of capitalization. Bitcoin rakes in about 70-80% of the market on average. All other cryptocurrencies, even the more advanced ones are far behind. Are other cryptocurrencies needed then? Definitely yes. Despite the fact that most cryptocurrencies are nothing but garbage clones, some of them deserve attention. Hundreds of developers working on their own cryptocurrencies are able to find interesting and innovative solutions, such as those of Ethereum, Monero or Dash. Cryptocurrencies for many are also a way to secure or multiply their capital in BTC. There is an interesting relationship between Bitcoin and the rest of the cryptocurrencies. When Bitcoin's price falls, usually most cryptocurrencies rise and vice versa. We saw a similar phenomenon during the recent strong rises in BTC, when a large part of cryptocurrencies lost up to several tens of percent. When the price of Bitcoin falls, the price of cryptocurrencies usually rises. It also rises when there is a long consolidation on bitcoin and day traders have nothing to do, then they just move to other currencies. Altcoins are therefore a great complement to bitcoin and its economy. Some of them make a lot of innovative improvements. They are often faster, more anonymous or have more uses beyond just payment. There have long been currencies slightly better than Bitcoin such as DASH but their popularity compared to Bitcoin is negligible. Also many of the seemingly better currencies have already d
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