Let’s start with the fact that the first cryptocurrency appeared in the world in 2009. It was Bitcoin, it was the most dominant asset in the growing crypto market. All other digital currencies were named altcoin and this has caught on to today several thousand other digital currencies exist.
Below is offered some information about altcoins, which you can bet on this year and whether or not another coin will ever be able to grow in value of Bitcoin and even overtake it.
Altcoin is a digital option that is an alternative to BTC, which was the 1 created cryptocurrency. The market has fallen for Bitcoin and everything else. Other cryptocurrencies were even treated with derision and called shieldcoins.
We defined that any cryptocurrency except Bitcoin is called Bitcoin, if earlier there were dozens of such coins, now their number exceeds several thousands. Nevertheless, even today Bitcoin has the largest capitalization, for example, bitcoin capitalization is two times larger than capitalization of the most perspective coin, Etherium.
What kinds of altcoins there are
There are a lot of speculators on the market who select for themselves those altcoins with which you can make more money. The 10 largest cryptocurrencies are offered below together with CoinMarketCap.com.
Bitcoin is the first and most important currency.
Etherium – the second most popular capitalization, which has a very promising blockchain, and it is based on this blockchain that many other cryptocurrencies are created
Tether – sometimes called the digital dollar, it is always equal to one dollar plus or minus a few hundredths
BNB – it is also called binance Coin. it is a proprietary cryptocurrency in the largest cryptocurrency exchange. As the number of crypto exchange customers grows, so does the price of this token
This is a very approximate list, the ranking can be updated depending on the number of planets created and any of the crypto coins has a particular volatility.
So, we have defined what is altcoin, Bitcoin, reviewed the list of the most popular crypto coins, now let’s define what to look out for in 2021.
Etherium is the number two cryptocurrency, in just one year here it went from $775 to the $4,000 mark. Now this cryptocurrency has given up a bit, but not for long. Etherium fully supports smart contracts.
Dogecoin in early 2021 could be bought for one cent, at its peak it reached a value of $0.75. Fortunately, this success was due to the special love of Tesla CEO Ilon Musk for this cryptocurrency. Now the big question is whether it will grow further or if it was just a market manipulation.
Solana – This is a fairly new coin that began its journey in the spring of 2020 with an initial price of $1 only now it can be purchased at $100 per token. What is the reason for the sharp rise? Maybe the reason is that such an operation to get is quite high and the number of coins is limited to 480 million units.
Will the time come when Bitcoin will pass the primacy to other cryptocurrency?
When Bitcoin appeared on the world scene, they owned 100% of the market, though few people took the cryptocurrency seriously. After the emergence of its closest competitors, the overall share of the cryptocurrency market has grown, while the percentage of bitcoin in the foreign exchange market has decreased. Option that Bitcoin’s capitalization has always exceeded the capitalization of cryptocurrencies.
Today, the total amount of money invested in Bitcoin is less than 50% of the total number of investments in cryptocurrency, as new coins appear every day. It can be assumed that the percentage of Bitcoin will steadily decrease, and it is not related to the possible growth of the cryptocurrency price in the future.
Will there ever be a cryptocurrency that exceeds the value of Bitcoin. In theory, this is possible, the closest competitor is Etherium.
There are 1000 altcoins on the market now, no one can say their exact number, many of them have shown explosive growth especially in 2020 and 2021. As of today, no single coin can dethrone Bitcoin from its leadership position, but it is inevitable that the percentage of Bitcoin investments will decrease day by day.