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The Crypto Ping List covers the following:
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Posted on 05/10/2021 4:44:41 PM PDT by aMorePerfectUnion
Over the last week, the altcoin market has added over $500 billion taking the overall crypto market cap to above $2.5 trillion. Ethereum (ETH), Binance Coin (BNB) and Dogecoin (DOGE) have been the top performers in the crypto market while Bitcoin (BTC) has been consolidating for a long time time.
As altcoins continue to extend their market dominance, Wall Street investors are worried over Bitcoin’s falling market dominance. From over 70% at the beginning of 2021, the BTC dominance has now dropped to under 44%. Strategists at JPMorgan Chase & Co and DataTrek Research LLC calling it a warning sign reports Bloomberg.
In a note to clients last Friday, JPMorgan’s chief strategist Nikolaos Panigirtzoglou noted that Bitcoin’s waning dominance echoes “Froth”. He also noted that the current rally in the altcoin space has been driven more by retail demand.
Well, it is very much clear that Ethereum (ETH) has been continuously gaining dominance over Bitcoin (BTC) in terms of percentage returns. Earlier today, Ethereum (ETH) touched an all-time high above $4150 levels extending its year-to-date gains to a massive 480%. On the other hand, BTC’s year-to-date returns stand just over 100%. Check the below chart of how the ETH price has surged against Bitcoin.
(Excerpt) Read more at coinmarketcap.com ...
If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain
mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
PING!
It seems we’ve entered into a bit of mania, as internet stocks did in ‘99-00.
Anyway, interesting article.
Boy, that’s not a headline designed to hype up Altcoin, is it.
Hard to say - ETH and other altcoins have been growing like crazy as BTC is stuck...
The fiat pot calling the crypto kettle black...
I’m stealing that.
The first rule of economics is that things are worth what people will pay for them
The second rule is that resources and more importantly, the rate of resource extraction are not infinite
No need to steal, my friend. What’s mine is yours.
with nothing to back these coins up, I expect them to crash and burn sometime in the future.
And my rule: The value of money is not determined by the issuers, but by those that actually use it.
BTC and ETH are two different coins with two different purposes.
There is no rule that a person cannot own either or both.
Why do writers make it seem like these are an either/or proposition?
So I’m still confused - what color tulip bulbs am I supposed to bet on?
The Alt coins tend to have a little more utility. All you can do with Bitcoin is per to peer money exchanges but it costs too much, though not as much as ETH. There are some alt coins that do peer to peer fast and cheap. Then of course there are alt coins that do a whole lot more with Blockchain tech than peer to peer exchanges.
The same can be said of the dollar.
Oh, a communist, eh?
;-)
The only reason they’re concerned is because they bought nothing, backed by nothing.
Not necessarily. Don’t confuse price with value. If someone pays $100,000 for a gallon of milk, that doesn’t make it worth $100,000. True, there may be a bigger fool that buys the same gallon of milk for $100,100, but it’s still only a gallon of milk. Eventually everyone notices it’s only milk. Same applies to tulips.
I'm interested in Hyper Fund
Can you pay your taxes in bitcoin?
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