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The dominant position in the bitcoin market fell to a monthly low of just over 51% of the total market capitalization, while Ripple and Bitcoin Cash both recovered more percentage points during the last week.
The overall value of Bitcoin in the cryptocurrency market is an important barometer in the progress of the space as a whole. If the Bitcoins still have a value of 100%, then the price changes in its markets would have an impact on the overall capitalization much more than they do now.
Ripple constantly upward, close to mating with ether
The market trend of Ripple is the most noticeable in recent times, pushing it to be almost equal to Ethereum. Ethereum's request comes from many dozens of sources on a regular basis, as token platforms require that I work and process ICO transactions and launches. Ripple's question is a little more complicated and depends on the needs of large institutions that in recent years have integrated the platform as a means of transferring low-cost money across borders.
Ripple continues to impress, having overcome a long winter of low ratings and pushing more and more towards a realistic dollar parity. By this we mean parity that does not depend entirely on the astronomical price of Bitcoin – that someone is actually willing to take a dollar and exchange it for a single Ripple, which could be different from the prices reflected on the BTC / XRP charts on a given day. Nevertheless, at the moment, they represent more than 50 cents in chips.
Looming fork propina cash Bitcoin
Many factors enter the recent increase in both price and volume on Bitcoin Cash, but probably the next major hard fork will be two big fields around the currency. The same people who bifurcated Bitcoin into Bitcoin Cash are now actively working to pay out Bitcoin Cash in something else.
The prospects of a profitable tertiary fork that grows with Bitcoin Cash are an arbitrage opportunity that many veterans of encryption recognize – when the Bitcoin Cash forks happened, anyone who bought Bitcoin before the fork and was holding it in their hands, Bitcoin Cash also immediately held, which started to negotiate rather high.
This is likely to be the main motivating factor for the increase in demand and volume around Bitcoin Cash, but certainly, other factors are at stake like the budding ecosystem and the economy around the crypto. .
Although Bitcoin maximalists may not like it, a decline in the Bitcoin market dominance over the total cryptographic market capitalization is probably a positive sign of health. I consider it in franchising – the flagship store may not work as usual, but the franchises are growing well.
It is also worth noting that this is not a zero-sum game. In many cases, newcomers to Crypto may not have entered at all if it were a strictly Bitcoin world they were watching. Ethereum, in particular, presents a number of opportunities for the investment and use of the blockchain to which companies and individuals have been attracted, and Ripple mainly serves large institutions. Together they currently account for almost 20% of the total market capitalization, so their contributions should not be taken lightly.
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