By Ftreporter.
Those who dig deep into cryptocurrencies are familiar with the term market capitalization. But what does it really mean? Market capitalization or just market cap refers to the total value of the currency network. How is it calculated? Very easily, you just have to multiply the number of tokens in circulation with the price for one coin.One look at coinmarketcap’s charts and you’ll get it straight away. The largest cryptocurrency by market cap is bitcoin, followed by Ethereum and Ripple. The numbers are constantly changing because cryptocurrency prices are highly volatile. And while the numbers of ether and ripple tokens are way higher than Bitcoin’s their price per unit is much lower. But is it even possible for any altcoin to dethrone Bitcoin from the top position?Both Ripple and Ethereum had quite a strong rallies in the first days of the year. However, on January 8, Ripple price tumbled from $3.47 to $2.14. Bitcoin also suffered a downfall but Ethereum managed to go up against all odds. The changes took place after CoinMarketCap decided to exclude several South Korean exchanges from its database due to the high premiums at which cryptos are sold in Korea.
Bitcoin’s current market cap fluctuates around $230 billion. If Ripple is to surpass Bitcoin, XRP should reach $6.57. It doesn’t seem as far-fetched, does it? Having in mind that it rose more the 35.000% last year, the new challenge of 164% is quite obtainable. What do the calculations say about Ethereum? There are 96,929,580 Ether tokens circulating in the market and the price per unit should rise to $2.700 if it is to become number one. In other words, Ethereum must have at least 130% growth.
Both currencies have bigger supplies than Bitcoin, which has 16.789.425 units operating. This means that neither Ripple nor Ether tokens have to become as expensive as Bitcoin’s. Bitcoin’s dominance happened mainly because it was the first digital currency to gain the attention of the masses. However, many alternative currencies rose around it and now have a significant impact on the market.
Bitcoin’s current market cap fluctuates around $230 billion. If Ripple is to surpass Bitcoin, XRP should reach $6.57. It doesn’t seem as far-fetched, does it? Having in mind that it rose more the 35.000% last year, the new challenge of 164% is quite obtainable. What do the calculations say about Ethereum? There are 96,929,580 Ether tokens circulating in the market and the price per unit should rise to $2.700 if it is to become number one. In other words, Ethereum must have at least 130% growth.
Both currencies have bigger supplies than Bitcoin, which has 16.789.425 units operating. This means that neither Ripple nor Ether tokens have to become as expensive as Bitcoin’s. Bitcoin’s dominance happened mainly because it was the first digital currency to gain the attention of the masses. However, many alternative currencies rose around it and now have a significant impact on the market.
No comments:
Post a Comment