As Bitcoin’s dominance dwindles in the last 5 years, which coins are going to take its piece of the pie? Investors eye direct rival Ethereum, however there is much speculation regarding the future of Pullix and Ripple. Today we will discuss the capabilities of each of these tokens and whether there is space for a new powerhouse in the crypto market.
Bitcoin (BTC) is Losing Dominance in The Long Term
Bitcoin gained 4.98% today, a 2.89% gain during the week and a cumulative 17.52% gain in the recent month. With the upcoming SEC decision to approve a Bitcoin ETF in January and a Bitcoin halving coming up in April, we’re seeing many reasons to be optimistic.
It’s very likely these are going to propel Bitcoin on an upward trajectory. As a Bitcoin ETF could be a $100 billion industry, that’s a big reason for bulls to take over.
However, although Bitcoin is growing, Bitcoin is also losing its dominance in the long term. On a one-year basis, Bitcoin’s dominance increased from 40% to 52%. However, from 20216, it dropped from 90% to 52%. At other times, it reached as low as 34%.
Bitcoin built a brand, a recognizable name, and the first and biggest cryptocurrency. However, how long can this last when other cryptos have much wider utility? Smart contracts, and faster and cheaper transactions.
It’s likely going to remain the USD of cryptocurrency for a while. The name and the brand. But its dominance can’t stay at these rates forever. The onslaught of new and better technology is going to take a bite of BTC’s market share.
Ethereum (ETH) Very Likely to Grow Because of Solidities Capabilities
Ethereum gained 4.25% today and 0.69% during the week, making that 14.27% in the recent month. If the Bitcoin ETF gets approved by the SEC, we’re very likely going to see an Ethereum ETF being approved soon.
This is going to mark a huge boom for Ethereum. Considering the wider utility of Ethereum, we can expect it to take a wider piece of Bitcoin’s cake in the long term. Bitcoin currently can’t compete with Solidity and all the benefits Ethereum offers.
Investors have started targeting Ethereum as they recognize this smart contract system is going to bring more usage.
Ripple (XRP) Fast and Cheap Transactions Provide Growth Potential
Ripple has stagnated recently, losing 0.47% during the last 30 days. However, the daily 3.1% growth indicates some optimism. Following the SEC ruling that Ripple isn’t a security, Coinbase, Kraken, and other exchanges have allowed Ripple to be traded on their platforms.
With the Bitcoin halving coming up, the block rewards are coming down from 6.25 BTC to 3.125 BTC per block.
Since miners become funded more by transaction fees than block rewards, transaction fees are going to rise. As Bitcoin transactions become slower and more expensive, there’s going to be more market interest in cryptos that don’t have this problem. Ripple can easily handle 1500 transactions per second compared to Bitcoin’s 7 transactions per second.
Investors are recognizing this benefit.
Pullix (PLX) Expected to Grow x100 On Launch Date
As Bitcoin dominance falls and moves to Ethereum and Ripple, another coin is going to surge. Pullix is a hybrid trading platform that combines the benefits of CEXs and DEXs.
A lot of trading is going to happen with the changing dominance hierarchy. Pullix is pulling gains, especially considering increased regulatory pressures.
Pullix doesn’t require KYC, and users control their private keys which has seen many privacy-oriented traders making massive investments in the platform. Advanced trading tools don’t exist on any DEX so far, and control of your private keys doesn’t exist on any CEX. Analysts expect this hybrid approach to yield 200% during the presale and 100x at the launch date.
For more information regarding Pullix’s presale see links below: