BTC dominance in Blockchain ecosystem is over, Knowing that about 17 cryptocurrencies have by far outperformed BTC this year
There are 17 cryptocurrencies within the top 100, which have doubled their price so far this year.
The cryptocurrency ecosystem is adding more and more investors and people interested in contributing to its ecosystem. Beyond Bitcoin (BTC), the most used digital asset in the world, other digital currencies are pumping in millions into Blockchain and are reducing the utility of BTC. Some analysts predicted a BTC drop before 2020 but that could not materialize because of the serious pandemic the world experienced within 2020, which projected BTC to its highest peak of about 65k. The drought caused by the 2020 pandemic made big players and Blockchain developers start thinking out of the box. They went into developing different Blockchain platforms, to fight and reduce the monopolistic market BTC has created in the cryptocurrency market.
Ethereum (ETH), the second-valued Blockchain and cryptocurrency industry, announced the Ethereum merger, with the motive to reduce the amount of energy consumed in the Ethereum ecosystem,
"The Ethereum Merge refers to a software upgrade that swapped the platform's consensus mechanism from a proof-of-work protocol to a proof-of-stake system."
The birth of new companies in the crypto space, with the varieties of Blockchain ecosystem from 2020. Contributed to the bearish and crash of BTC from 2020 to the end of 2022.
Earlier in 2023 BTC started its bullish momentum, from 15k to 25k within February 2023. But with proof-of-stake mechanism, some coins have outperformed BTC, and in some cases, they are even presented as a striking alternative, given that, specifically, there are 17 cryptocurrencies within the top 100, which have doubled their price so far this year.
THESE 17 CRYPTOCURRENCIES HAVE DOUBLED THEIR PRICE IN 2023
A total of 17 cryptocurrencies from the top 100 have doubled their price so far in 2023. These are assets with increases that range between 104% and 796% in just a month and a half.
According to the CoinMarketCap list. The most prominent, with almost 800% increase to date, is the AGIX token of SingularityNET, an artificial intelligence platform.
In addition to AGIX, the list also includes The Graph (GRT), a big data platform currency that has appreciated 178% so far this year.
Other notable assets in this group include Optimism's OP, Fantom (FTM), Lido Dao's LDO token, and Aptos (APT), a cryptocurrency created by former Meta workers.
Of the cryptocurrencies that doubled in price this 2023, the most valuable on the market is Solana (SOL). It is ranked 11th among those with the highest cumulative capitalization, and has risen 114% so far.
These are the cryptocurrencies that have doubled in value, according to information from CoinMarketCap.
Comments
Post a Comment