Bitcoin Raises to 10K Before Dropping Back to 9K
Photo by Clifford Photography on Unsplash
Bitcoin has had an interesting rally recently with a few drops here and there. It reached it’s highest value so far in this year. Just recently it also dropped to $9,800. Bitcoin continues being the top cryptocurrency by market capitalization and may continue to be so for some time. With a circulating supply of 18,210,250 and a halving that is right around the metaphorical corner, Bitcoin is starting to see some movement. From the top ten coins, Tezos seems to have made its way to the top of the top ten cryptocurrencies by market capitalization. Litecoin is making its way back to sixth place by market capitalization after a recent increase of value to $73.
Each coin in the top ten may stay there for some time or may actually trade spots depending on the technological advances and improvements they make. The original coins of Bitcoin, Ethereum, and Litecoin seem to keep there place. Forked coins also go along with the original coins such as the forked Bitcoin coins and Ethereum coins. Tether seems to be in the top ten simply for it’s stability and holder of value.
EOS seems to be innovative in its platform by allowing a different way to mine and create new coins while avoiding the overuse of electrical resources. Binance Coin allows for the benefit of getting discounts or avoiding fees while trading when used on the eponymous exchange. Tezos seems to be similar to EOS in the sense that it wants to improve the blockchain ecosystem by avoiding the overuse of resources, improving voting processes, and prevent attacks against the network through the verification and voting process.
Whether these coins will remain in the top spots is difficult to know. The interesting part is following up on the different solutions that these coins try to offer to the digital world. XRP has increased in pricing while Stellar has minimally increased in value.
Both cryptocurrencies occupy similar niches in attempting to merge cryptocurrencies and fiat banking, whoever one attempts to do so with big banks while the other wants to provide options for the un-banked. It will be a very interesting months ahead.