My check on coinmarketcap.com, this morning revealed that the market is now valued at 60 billion USD. Bitcoin dominance which used to be at about 70% has now reduced drastically to less than half of the market share (47.5%). Within the last 24 hours, 2 billion USD worth of coins were traded.
Ripple from the 3rd place, where it had been for a while, displaced ethereum and is now in the 2nd place. It holds a little over half of bitcoins current market share ( $15,207,431,924). Ripple is now valued at $0.39 with trade of $475,259,000 volume in the last 24 hours.
Only 22 days ago the total market was valued at $30 billion. Read my previous post https://steemit.com/cryptocurrency/@maryfavour/the-cryptocurrency-market-hits-30-billion-usd-and-still-counting
Could bitcoin lose it's first place soon and ripple take over? Please, share your thoughts in the comments section below. Thank you.
IMAGE SOURCE: https://coinmarketcap.com/
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I don't think Ripple will beat Bitcoin in market cap. It is a different platform with different clientele. However, I am biased and like Bitcoin more than Ripple.
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I absolutely agree with you that ripple is a different platform with different clientele. I learnt that it is actually owed by a bank and that the bank has about 70% shares leaving only 30% to investors. The implication is that the bank can manipulate the price at any time, because it is centralized. Thank you for leaving a comment.
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No, I don't think ripple can take over Bitcoin, at least not in this decade. Bitcoin is the unrivaled king in the crypto world. It would be a sin to even think about replacing Bitcoin with another coin. ;)
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Really? Alright. The likelihood for bitcoin displacement by ripple or any other 'strong' crypocurrency is very likely. I joined the cryptoworld about 5 months ago and a lot has really changed over that period of time. I appreciate your comment.
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Hmm, maybe.
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Yeah, on a second thought.
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