Cryptocurrencies Market is Triple the Size of Estimates

Ever since Bitcoin’s foundation in 2009, the blockchain community has erupted with a current 731 cryptocurrencies in circulation. Although Bitcoin remains the dominant predecessor in the Crypto Market by net worth and recognition, the remaining altcoins uphold nearly half of the Crypto Market and similarly predict exponential growth patterns. Not to mention, an increase in options, simultaneously aiding the surge of excited newcomers towards their cryptocurrency wallet downloads. Many of these alternative cryptocurrencies are much safer investments than bitcoin due to inferior tech behind them.

Even though Bitcoin revealed the very first de-centralized currency with minimal fees, the average ten-minute transaction time was notably degrading people’s patience. In response a motivated individual, Charlie Lee, developed Litecoin in 2011, which situated as a compliment rather than an actual substitute. As early investors would proudly announce, Litecoin’s price had comparably rose from a mere few cents to a record fifty dollars by 2014. In spite of the ongoing volatile tendencies, between April and now, the price rose nearly 700%, more than triple the 200% prediction for 2017.

In line to withstanding the digital trend, and concurrently withholding a more “orthodox centralized system”, a significant number of investors have nested on Ripple Coin. Despite its credential spot in the blockchain, its authenticity is still frequently debated over, as it compliments Bitcoin despite serving the banks alike; whereas it represents money and transactions via code, its primary purpose is to quicken and lower fees within the banks’ transactions’ system. Besides the negative aspect, Ripple’s value has recently soared from 0.034 USD to 0.242 USD just over the past month, thoroughly displacing previous unimpressed predictors. Furthermore, present studies predict a steadily increasing price with over 15 global bank investors such as Westpac, BMO Financial Group, National Australia Bank, and Shanghai Huarui Bank entering the movement.

bitcoin market capitalization

Looking into a rather new successor, launched mid 2015, Ethereum has already solidified an impressively supportive community. Under the supervision of its founder, Vitalik Buterin, the price drastically rose over 1100% since January this year, till this present day. Distinct from the rest, Ethereum plans to benefit businesses in particular, providing smart contracts throughout the blockchain; such as a cryptocurrency wallet specialized in business transactions. The bullish trends mainly resulted when Ethereum partnered with around 30 large firms, including Intel, Goldman Sachs, Microsoft, and many more. With the exponential financial input, there’s no limit to how high the price could outweigh the estimates.

One last alternative cryptocurrency, OneCoin, uses a private block chain. It is also the first cryptocurrency to store KYC documents on its blockchain and customized to meet both personal and business needs. OneCoin is a much safer alternative than bitcoin, and should see rapid growth.

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