Bitcoin's Market Dominance Hits Record Low, Ripple Surges

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, which experienced a more than 30 percent price drop off its recent ‎highs, today had a record low in its percentage of cryptocurrency’s total market ‎cap as investors hedge with other prominent ‎altcoins.‏

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While the scaling debate and price swings have been going on during the ‎last few months, the Bitcoin Dominance Index, which shows how much of ‎the entire cryptocurrency economy is dominated by Bitcoin, has been ‎dropping all the way to reach a record low at 37.6%. ‎

Today’s figure is the coin’s weakest level since June 2017, and many point ‎to the increasing popularity of altcoins such as Ripple and Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term as a ‎convenient reason why.

Ripple has experienced a massive short-term advance in market cap, after ‎seeing a staggering $80 billion increase within a month. The sudden and ‎dramatic ascension through the ranks has taken Ripple to the position of the ‎world’s second-most valuable cryptocurrency‏.‏ ‎ It had already overtaken ‎Ethereum for the first time since May 2017, with its market cap surging to ‎‎$85.2 billon. ‎

Although Ethereum has managed before to regain its previous position, but ‎this time Ripple has built a strong adoption among major banks in Japan ‎and South Korea, where the majority of its trading volume is ‎concentrated in‏.‏