The share of bitcoin in the overall market capitalization of cryptoLights has fallen to a record low in the early days of the new year, writes Quartz. The global market valuation of electronic currencies has reached $ 628 billion on January 2, but bitcoin accounts for only 36% of it.
By comparison, a year earlier, the most popular cryptoLight was 87% of the value of all electronic money. According to experts, the collapse of cases is due to the fact that while the bitcoin price has remained relatively stable in recent weeks, the market value of other digital vapors such as ethereum and ripple has seen significant growth, setting consistent records. At present, these two cryptocells account for about 14% of the total market. Bitcoin cash, a bitcoin variety, accounts for 7%.
Some of the digital assets that have increased their value, such as ethereum and ripple, may be more useful, easier to obtain, and make quicker bitcoin operations, sometimes viewed as a kind of "digital gold" .
Another litecoin - handles transactions faster than bitcoin, and now accounts for around 2% of the market value of all digital currencies. Her creator Charlie Lee suggests that some people are buying this crypto, because bitcoin is very expensive and they do not realize they can buy some bitcoin.
Another possibility for the current rise of other cryptoactives is that people who fear they have dropped bitcoin are trying to repeat this success by buying some of the newer digital currencies.