Bitcoin Domination Down Under 40% After Ripple Shoots
Over the past week, Ripple (XRP), which was ranked the 3rd most popular Altcoin in Coinmarketcap.com ranks again showed a phenomenal rise. In just a week, Ripple (XRP) was able to book a 147% increase; from $ 1 on December 26 to an all-time high of $ 2,474 on Dec. 30, 2017.
Although 2017 is one of the most remarkable periods of the rise in Bitcoin (BTC), but by the end of 2017, crypto created the first time it lost a sizable market share. The market share is shifting to Altcoin's market share. After the value of BTC down to 37.9% in the last week 2017, Bitcoin market dominance is currently only 36.5% only.
Bitcoin (BTC) currently has a market share of $ 230.8 billion, followed by Ripple (XRP) with a market share of $ 87.8 billion. Ripple market share increase (XRP) is increasingly becoming, and even replacing Ethereum (ETH) in the 2nd position.
Whereas Bitcoin (BTC) has risen earlier than June, dominating more than 60% of total market share in early November 2017. End of 2017, market share began to switch to some Altcoin which has better and more perfect function of Bitcoin.
In addition to Ripple (XRP), some Altcoins are considered to have more perfect functionality than Bitcoin in terms of Scalability and Transaction Fees also come with the addition of larger market share such as Cardano (ADA), Stellar Lumens (XLM) and Verge (XVG). Even the most phenomenal rise occurred on XVG, which rose by 250% in just one trading day only on December 23, 2017.
Some of the Altcoins (XRP, ADA, XLM, XVG) are considered to be one of the best solutions to resolve the increasingly severe Bitcoin scalability problem and have yet to find a solution. In fact, the SegWit2x Hard Fork done on December 28, 2017 is only considered a fancy and a mere joke by various professional crypto developers.
If we are currently visiting the Coinmarketcap.com or Coinranking.com site, we will find more than 129 Altcoins and ICO tokens valued at between $ 100 and up to $ 1 billion with their respective market share.
With a total of 1,381 coins, and Total Crypto Market Share worth more than $ 6.31 billion, it is not surprising that market share begins to split, given the functions provided by Altcoins and ICO Token also can not be underestimated. Moreover, the price is still very affordable, so many retail investors are interested to buy it.