Bitcoin’s dominance in the cryptocurrency market is shrinking. At the beginning of July, Bitcoin started surging upwards after months of steady decline, and now it looks like it’s not the only cryptocurrency that’s on the rise.
Most altcoins lost over 80% of their value in 2018 when Bitcoin dropped, but some of the top altcoins have been growing at a rate that has surpassed even Bitcoins, despite their recent surge. Our friends at crypto code live, a crypto trading site shares more info with us regarding the same.
In the past six months alone, Bitcoin’s market capitalization has declined to other cryptocurrencies, known as altcoins, which have seen explosive growth. Many of these altcoins are now outperforming Bitcoin regarding technology and investment potential. Today, we’re going to look at five altcoins surpassing Bitcoin. Hence, living in a period requires an individual to be up to date with the latest happenings.
Many other cryptocurrencies, often called ‘altcoins,’ are all trying to get a piece of the market that bitcoin currently dominates. Thus, with the bitcoin era being the backbone of the virtual currency in the present times, it is becoming increasingly important to rock the crypto market.
Best altcoins
Altcoins are cryptocurrencies that were developed after bitcoin. They don’t get widely traded or used as bitcoin but are proven fruitful if you want to diversify your portfolio.
Below are the best altcoins that need an individual to contribute and invest in the financial and monetary terms of the present world. These altcoins have performed better than bitcoin in recent months:
1. Solana
Solana runs on its blockchain rather than a layer on top of another blockchain—like Ethereum—it is not as vulnerable to attacks like DDoS and spamming. Solana is an up-and-coming blockchain project that aims to solve this problem by developing a high-performance blockchain that does not sacrifice security or decentralization for transaction speed.
Thus, this crypto asset enables developers to create applications with instant transactions and high throughput. Thus, Solana is one of the leading virtual currencies in the modern world of financial investments.
2. Cardano
Cardano is a cryptocurrency that came into the limelight when founded by Charles Hoskinson, one of the founders of Ethereum. It is unique because it allows for smart contracts, which are contracts that are written into code and executed when certain conditions are met.
This currency, which trades under the abbreviation ADA, has a coin value that is very close to $0.05 at the time of writing. Thus, with its top-notch features and characteristics, Cardano is set to ace the race of monetary well-being.
3. Litecoin
Litecoin is an altcoin founded by Charlie Lee and funded by Google Ventures and MIT. Litecoin uses a different proof-of-work algorithm, making it easier to mine blocks than bitcoin (which requires a lot of computing power). Litecoin, similar to bitcoins, employs script, including its concrete evidence method, rather than SHA-256.
4. Ripple
Ripple was founded by Jed McCaleb as well as Chris Larsen as a transaction structure that lets individuals send funds in just about any denomination anyone wishes.
It is a decentralized blockchain architecture, which means that no strong federal government administers it. Came to the forefront in 2012; this crypto asset is leading the world today with the features it has.
The final takeaway
During the talk of the time, cryptocurrencies have emerged on the market. There are a variety of altcoins that are gaining traction and becoming more popular than Bitcoin. Most notably, Cardano has made significant gains in the past year and is currently one of the most traded crypto coins.
Litecoin, another altcoin that has recently surpassed Bitcoin’s popularity, is also becoming a household name for those interested in cryptocurrencies. Finally, Ripple has seen an incredible growth rate over the last few months, and its future seems to be a bright one for investors.
As mentioned above, all the altcoins aim to increase the cryptocurrency world’s security and well-being. These altcoins have seen tremendous growth and are becoming serious competitors to Bitcoin. Though Bitcoin is still the number one cryptocurrency, these altcoins could surpass it shortly. Thus, all the above three given altcoins prove to be a cherry on top when virtual currencies are the race.
