Six years ago bitcoin was the only cryptocurrency people talked about. Now, there are almost 1,400 of them. While remaining the locomotive of digital money, bitcoin has been gradually losing its preeminence in the market.
Bitcoin had a very good year. In addition to appreciating by more than 1,300 percent, it is now trading on two futures exchanges and has lured institutional investors from Wall Street. However, it is no longer the only game in town.
At the beginning of the year, bitcoin had an 88 percent share of the cryptocurrency market. Ethereum had only four percent, and bitcoin cash was non-existent.
As 2017 comes to an end, the market share of bitcoin shrunk by half to 43.5 percent.
Ethereum has faced similar setbacks. While it was predicted to de-throne bitcoin, its market share has fallen from about 32 percent in June to near 13 percent by the end of the year. Bitcoin cash has never had a share exceeding 11.5 percent.
The reason is that with the development of the market, new digital currencies arose, making investors diversify their cryptocurrency portfolios. The cryptocurrency market is very broad, and different currencies offer different solutions for investors.
Ripple has now gained almost 35,000% this year, overtaking ethereum on Saturday to become the world’s second-biggest virtual currency.
Ripple has had the biggest growth in value among notable digital tokens this year. It went from less than a cent ($0.006523) in January to $2.24 on Saturday, which represents a surge of almost 350 times in value.
“IOTA crypto is about microtransactions without commissions. Ethereum is good for “smart contracts,” dash and the like are autonomous and so on. Bitcoin is used not only as a financial asset or as a means of exchange, but also as an alternative currency necessary for investing in competitive and complementary projects of the cryptocurrency industry,” Mikhail Mashchenko, an analyst at the social network for investors eToro in Russia and CIS told RT.
Over the next decade the crypto-economy will exceed 10 trillion dollars. Cryptobanks and Cryptocurrencies will become a cornerstone in the relations between decentralized economy and future daily life by expanding payment infrastructure and possibilities, creating new cryptocurrency payments scenarios and lowering interest rates.
GBiT and GBITX are creating a secure, non-diluted Cryptocurrency that interacts in real time with the exchange.
Blockchain is the key innovation behind Cryptocurrencies which has much to offer than anyone could possibly imagine. Blockchain contains a long list of applications beyond the cryptocurrency landscape. The increasing popularity of Cryptocurrencies is paving a way to for blockchain exchange platform development. In addition, cryptocurrencies exchanges refer to the websites that handle the trading of cryptocurrencies. Cryptocurrencies exchange platform provide a number of advantages for cryptocurrencies management as they can come in use as a storage medium as well as engage in selling, buying and trading cryptocurrenciess.
GBiT makes it easy to access and use a super secure cryptocurrency that has all of the benefits of Bitcoin and more. Transactions in GBiT happen faster and are more anonymous but within our proprietary checks and balances. Did you know that anyone with your public Bitcoin wallet address can see how many bitcoin you have, and your entire transaction history? GBiT protects your transaction history and wallet contents from prying eyes, whilst leaving publicly accessible transaction hashes available for the technically discerning to authenticate transactions.
Super Secure – Unhackable Offline Wallets
“Googling” for Bitcoin Hack or Ethereum Hack will find you dozens of stories of stolen cryptocurrencies. We’ve developed an OFFLINE wallet that is 100% secure. You can create as many offline wallets as you like (free) and transfer the bulk of your GBiT or other Cryptos to those wallets.
According to the analyst, that is why the cryptocurrencies are here to stay. Even if bitcoin fails, the others won’t.
Latest posts by Shayne Heffernan (see all)
- China UAE Trade to Explode - July 21, 2018
- GE Needs New Leadership - July 21, 2018
- Trump Can Not Win a Currency War, US World’s Largest Manipulator - July 21, 2018