© bitconnect
The boom in price of cryptocurrencies in the past 3-4 months has created a new breed of coins dubbed to solve all manner of problems in our society.228 newly minted crypto coins were released into the market in the past 3 months some with market capitalization of $100 to $100,000,000!
What does this mean for the Crypto World
Well, its hard to tell by now how this will affect the market in the long run but one certain fact is that the market share of bitcoin is shrinking as it now controls around 40% market cap of cryptocurrency world. It's easy to see a day where bitcoin controls less than 10%. Whether this is a good thing or not remains to be seen, for now we can just speculate and stockpile our favorite altcoins.