Large trading volumes towards ALTCOINs over BTC?
As I am looking at the charts, the data says it all. Large trading volumes are shifting towards alt coins. You can see a huge trend starting at the begging of the year 2017.
BTC issues
As I am reading BTC there seems to be issues regarding fees, bubble, blockchain size, BIP 148 USAF and BIP 149. The date of August 1 is approaching, and it seems there is a big shift towards alt coins over BTC.
$100bn+ market cap
Over the last few days the total market cap has exceeded the $100bn club, and currently holds at $106.081.375.565. Each day there is an ~increase of $1bn!. Where does the money goes to? Into BTC or ALTCOINs.
Percentage of market
Below a breakdown of the current percentage in the cryptocurrency community:
Larger percentages
_Bitcoin ~44.15%
_Ethereum ~25.54%
_Ripple ~10.22%
Around 1% of total market cap
_Litecoin ~1.54%
_Dash ~1.03%
_NEM ~1.79%
_Ethereum Classic ~1.54%
_Monero ~0.76%
Coinmarketcap charts
Please see the https://coinmarketcap.com/charts/ for more detailed information.
Share your thoughts on leaving BTC and going into ALTCOINs
Do you invest into ALTCOINs over BTC? Let me know in the comments.
As always thank you for reading.
Sander
It make sense to trade other alt coin rather than btc. Btc has reach to a point where the upside is decreased because of its market cap whilst it is much easier to get more return from lower cap coins. This makes even more sense for those with little money to invest.
Totally agree! Against the trend is the way up I guess.
Thanks! following for more analysis.
I have been noticing the move to altcoins.
The nice rise we are experiencing here at Steem too.
Cheers. I think for #altcoins to succeed they need to have a certain practicality to it e.g. steemit to create user value and for people to understand it better. And Steem is on the rise ;-)
I expect STEEM to get to that 1% of the market in the next few months.
Yes! Lets aim for that and all benefit by contributing to the platform and building a bigger community!
Indeed, well said.