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Rise of smaller rivals throws up fresh challenge to bitcoin

From reuters.com

Bitcoin’s weathered hacks, heists, booms and busts to reign as the king of cryptocurrencies through its first decade. But now there’s a fresh challenge to its dominance of the fledgling market: some 2,000 smaller digital coins. Collectively, “altcoins” are gaining ground on their bigger cousin. Individually, they are gaining traction among users, gathering communities of developers and users often deeply devoted to their goals. Bitcoin now accounts for around 60% of the $240 billion crypto market, down from nearly 90% just over two years ago. That fading dominance reflects tough times for the original cryptocurrency ... (full story)

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  • Category: Fundamental Analysis