Wednesday, January 3, 2018

While the top 4 cryptocurrencies hold their spots, the rest of the top 10 continue to jockey for market cap dominance

When discussions take place over cryptocurrencies, inevitably the focus usually goes towards the top 4 on the food chain.  These of course are Bitcoin, Ethereum, Ripple, and Bitcoin Cash.

But when it comes to the next level of cryptocurrencies, the field is wide open, and in fact between the end of December and the beginning of January 2018, those cryptocurrencies ranking between number 5 and 10 have shifted numerous times, with older ones falling out and new ones taking their place.


And as you can notice in the chart above, there is a new addition to this list at the start of 2018, and it is the cryptocurrency known as Stellar.
The hottest digital coin as 2018 kicks off is stellar, which has climbed more than 65 percent since Friday into the 10 largest cryptocurrencies by market capitalization. 
By Tuesday, stellar had a market cap of $10 billion as the eighth-largest digital currency, according to CoinMarketCap. The digital coin traded 17.5 percent higher on the day near 56.4 cents, the website showed. 
Stellar operates a network with the blockchain technology behind bitcoin. But unlike the popular digital currency, Stellar's transactions settle in 2 to 5 seconds and allows users to quickly exchange government-backed currencies, such as turning U.S. dollars into euros, according to its website. Stellar's coins are officially called lumens, or XLM. - CNBC
Cryptocurrency trading has become the new rage, replacing Forex trading in many areas around the world, and by many investors... in particular in Asia.  And while cryptocurrency traders in China, Japan, and South Korea still make up the bulk (70%) of all trading in this sector, what it means in the long term is that obscure cryptos will rise and fall in the top 10 and 20 dependent upon news and popularity, and it is in finding the up and comers where most of the big money will be gained in cryptos in 2018.

0 comments:

Post a Comment