Before I start, I would like to add IOTA that I bought through Bitfinex and BCH that I mine via Bitcoin.com. These are the other 2 alt-coins I support.
Now the recent surge in alt-coins has eventually caught up with BTC dominance of the market capitalization. As you can see this screen shot taken from Coinmarketcap, BTC dominance is down to 49.9%. Ethereum is catching up at 12.81% but the most notable increase is the “Other alt-coins” category. The total market cap of everything else is at 16.16% as of this writing. It means all of those other coins that are getting traction with the general public and that they could invest directly without having to purchase BTC first. A few examples are QTUM, with the highest trade pair volume against the Korean Won, and OMG against the US Dollar.
I believe BTC will still have the highest market cap by the end of 2018, but this is already a sign that the other coins are gaining mass adoption with the public as a alternative solution to BTC. I'm not against BTC, but it's really faster to send an equivalent of 100 Philippine pesos of LTC that with BTC, for example. And also note, I'll pay lower fees with LTC than if I use BTC. But anyway, We do see a bright 2018 ahead for the crypto currency world as the total market cap for everything is 642B USD. That's a big WOW!
Until next time!
Sources:
-Coinmarketcap, Bitcoin.com, Bitfinex
Understand the technology behind a coin/token before you invest in it.
