During Last 30 Days, Altcoins Marketcap Dominance Grew 5%, While Bitcoin Lost 3%

in steem •  7 months ago

I love to browse through specific data, especially on those Mondays when markets seems not to know in which directions they want to head. Like this Monday, for instance.

One of the most interesting changes during last month, going completely under the radar, is the growth in market cap of altcoins. Coupled with the loss of dominance of Bitcoin, this paints an interesting story. But more on that a bit later, for now let's look at the charts.

So, here's the dominance chart with a snapshot taken on March 18th, almost a month ago:


Screen Shot 2018-04-16 at 6.16.44 PM.png


And here's how this chart is looking now:


Screen Shot 2018-04-16 at 6.16.52 PM.png


Let's make it a bit clearer.

The losers:

TokenPercentage lost
Bitcoin3.13%
Bitcoin Cash1.27%
Ethereum1.16%
Litecoin0.58%
Dash0.12%
Monero0.06%
Ripple0.05%

The winners:

TokenPercentage gained
Others5.84%
IOTA0.26%
NEM0.17
NEO0.11%

The top 3 losers, Bitcoin, Ethereum and Bitcoin Cash, are accounting almost for the exact increase for the gainers, which is Others.

What does that means is that a significant amount of value is shifting from the "grandfathers" of crypto into newcomers. This may happen for any of the following reasons, or for all at once:

  • people are trying to hedge the bear market of Bitcoin and they're moving their funds into specific alts
  • some of the successful ICOs of last year are creating a "community" effect, which drives the early investors to keep acquiring tokens in these new ventures
  • some of the projects launched 1-2 years ago are gaining traction and they become attractive as an investment (among them, STEEM, obviously)

Now, this Others includes tokens like STEEM, which will fall under the "successful projects" above, or EOS, which will fall under the "successful ICO" above. But there are also other tokens, like ZCash, Binance Coin, Ethereum Classic, Lisk or Nano. All of these are attracting value from investors, suggesting traders are considering them a worthy hedge for the bear market of Bitcoin.

And all of this is happening more or less in secret, if you don't know where to look.


I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.


Dragos Roua


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NEO recently had their Amsterdam conference, and lots of new
ICOs have been announced in March and April, so it makes sense that value is shifting there.

This report clearly indicates that Alt coins are the real winners....Need to diversify in potential Alt coins...

Nice write-up, I think the dominance rate is going to bounce from 40-45% for awhile. While alts are pumping the rate goes down. When BTC recovers it goes back up.

Good time to accumulate alts for long term right now this is going to grow even higher :)

That's an interesting analysis but I would also add another potential reason.; the fact that all new ICO's require Bitcoin or Ethereum for the acquisition of the new tokens. Just one of them EOS will end up having 10% of Ethereum market cap when its year lasting ICO ends this next June.

I would say this is the normal sign of the maturity of the market. Bitcoin remains the dominant (reference) currency, but the development of applications based on the blockchain technology are driven by the altcoins. Always, when concerns are rises, people will run to Bitcoin like the Swiss Franc in the fiat market. When pressure is going down, there are no reasons to stay with Bitcoin, right?

Cryptos are often rising and and falling. But sir @dragosroua you haved shared some important information about cryptos winner and looser. Thanks for the update.

Investors are more inclined to diversify there crypto holding for the obvious reasons you have stated.But we are still far away to see Btc dominance being challenged in a real sense...

hey mr @dragosroua thanks for giving good information as always. have a good day ... fingers crossed to btc get better :D

cheers o/

Is there a way to know when to move from altcoins to BTC? My guess is that when bitcoin is in an upper trend altcoins are a safety net while in the oposite trend then BTC is the winner, Is there any other smart move you could possibly suggest?

Altcoins Suffered Badly These Past 30 Days Except for The Pump-and-dump Cycles

Its a good news for altcoins crypto holders....I added a little graph chart in altcoins
2018-04-16_214437.png

Yes, the optimistic point is the growth of altcoins against the BTC down... need to keep Sharp eyes on the movement

When atomic swaps become the norm, that's when we'll really see BTC lose its dominance. I doubt before. Right now too many people need to buy it (or maybe ETH) before they can buy anything else. For a lot of people, they just stop at that first purchase because they don't know what else to do. (Or they buy that fake Ripple crypto because it's so hyped.)

Take into account that Bitcoin is loosing this days only a fraction of what the other coins loose from january to now. I would say that investors have refugee on bitcoin, the old strong coin, during the retracement of the market, and now the fact that they seem to be re investing again on other projects may be read as a sign of real recovery of the market. What you think?

Your Altcoin journey begins in bitcointalk website where the new coin is generally announced and the initial plans, buy some of the coins at say 0.000000001 ........ and say $100 worth will turn into x 10 x 50 x 1,000 and some x 7,274% like Ven did from Aug 2017 to 6 months later.

So if you bought $100 of Ven Aug 2017 you would have made $727,400 !!!!!, as it went up 7,274.

Do your own research of the coin in bitcointalk and then run a mile if the developers are keeping most of the coin themselves they will sell them all probably on first day they pay someone like crypto-bridge .5 btc to list it there.

Crypto-bridge is a great place to find coins that can make you rich in 6 months, they also have their own bridge coin which you can stake and get rewards from.

Do your own DD this is not investment advice.

Nick
Certified Bitcoin Professional

Follow me on Steemit for Alt Coin News and much more......

Good start to the week

This is a good account of the market happenings. ETH I believe is good bet to hold.