The biggest competitions in the cryptocurrency market
With the recent movements in the cryptocurrency market, we see many companies’ ICO offers and competition from companies that want to grab the top positions.
Currently, we can say that all cryptocurrencies are in direct competition with the market leader Bitcoin. Although still the largest cryptocurrency in terms of reach, market cap, unit value and many other metrics, Bitcoin has lost its 85-90% market monopoly.. It now accounts for 25% to 50% of current crypto trading.
However, besides competition with Bitcoin, other cryptocurrencies have started to compete with each other. Bitcoin and Ethereum, Litecoin and Bitcoin Cash, Ripple and Stellar rivalries are the most well-known rivalries in the cryptocurrency market right now. All this while fighting for supremacy in the crypto market, these pairings create some interesting battles. These wars can even lead to price wars that can push the currency up or down in the future.
The biggest competitors in the cryptocurrency market
Bitcoin and Ethereum
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Currently, Ethereum is the biggest cryptocurrency that challenges Bitcoin. There were even times when Ethereum market size rarely surpassed Bitcoin’s.. However, this never lasted long. Ethereum is seen as more legitimate by investors, with a level of transparency that is often not found in Bitcoin.
Litecoin and Bitcoin Cash
Bitcoin Cash, Bitcoin’ It is a hard fork separated cryptocurrency. When this fork took place, Bitcoin Cash supporters predicted that they would surpass the original Bitcoin value and become the market leader. However, its close rival Litecoin dampened these hopes considerably.. It is stated that Litecoin is quite likely to appreciate in 2018 with the launch of the Gemini platform and Litepal.
Ripple and Stellar
Neither Ripple nor Stellar are bigger Although they haven’t won their contention with their rivals, both could shine in 2018. Ripple has started partnering with both small startups and large financial institutions to create real-world use cases for the cryptocurrency.. Stellar, on the other hand, is trying to challenge Ripple much faster and more openly against this situation.. 2018 could be the year Stellar rises.
Cryptodaily