Log in

Register



ICO   STO   IEO 

"Link your ICO to Success!"

-50% for all Promotions

ICO List bg

Research: Bitcoin is best positioned to become the money of the internet

Bendik-Norheim-Schei-Bitcoin-dominance Bendik Norheim Schei | Arcane Research analyst

According to Coinmarketcap, the Bitcoin dominance in the cryptocurrency market is currently about 68%, but Arcane Research analysts believe that in reality it reaches 90%.

The researchers emphasized that the services, when assessing the dominance of the first cryptocurrency, do not take into account liquidity in the market and a decrease in the price of an asset when mass selling tokens.

"One might be able to sell one token for 3 dollars, but what happens if you want to sell 1 million? Without accounting for liquidity, market capitalization becomes a meaningless measure,

the report says.

Researchers calculated trading volumes of various cryptocurrencies as an indicator of liquidity, and it turned out that Bitcoin occupies up to 90% of the market. At the same time, stablecoins were excluded from the study, since, according to analysts, they do not compete with other crypto assets.


Thus, alternative currencies are even less likely to take the place of Bitcoin than we thought. Moreover, the effect of the crowd means even more in the financial world, where "liquidity is everything!" 


"Bitcoin is best positioned to become the money of the internet Every day Bitcoin stays ahead, it becomes less likely that any other cryptocurrency can compete as a money. That is important to understand not only for investors and those building out payment infrastructure, but also those building out solutions leveraging the security of a public blockchain. The value of Bitcoin as is what makes its blockchain the most secure and makes users take good care of their private keys," 

said Bendik Norheim Schei, Arcane Research analyst.

In early July, cryptocurrency trader and TV presenter Max Keiser expressed confidence that the altcoin season would not come and that the dominance of Bitcoin in the market would continue to grow. 

SOURCE

2
Mark Carney: cryptocurrency like Libra should beco...
Spencer Bogart: Bitcoin will survive even during a...
 

Comments (0)

There are no comments posted here yet

Leave your comments

  1. Post comment as a guest (Moderator approval).
    To comment without approval Sign In or Register
0 Characters
Attachments (0 / 3)
Share Your Location