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Bitcoin Loses Market Dominance While Ripple Surpasses Stock Market Companies

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There are a couple of altcoins which keep gaining more and more value as each day passes. We are talking about the likes of Bitcoin, Ripple and Ethereum which continue to grow and attract more attention to the cryptocurrency market. Just take a look at Ripple XRP which skyrocketed from $0.23 to $3.79 in no time or at Cardano ADA which rose from $0.27 to $.188.

Bitcoin Loses Dominance

The most interesting about cryptocurrencies such as Ripple XRP, Cardano ADA and Stellar XLM which are growing in value is the fact that Bitcoin is losing dominance. Bitcoin is known as the “poster boy” for the cryptocurrency market but its power is slowly declining while other altcoins are surging.

Right now, Bitcoin’s market dominance has dropped down to 34% from 55%. This is a significant drop, but it doesn’t mean that Bitcoin is going away. Even though other altcoins are growing in value, Bitcoin is sitting on the top with the biggest market capitalization.

Ripple XRP Exceeds Stock Market Companies

Talking about market capitalization, Ripple XRP is holding more than $147 billion which is $10 billion lower than Unilever ULVR who is one of the stock market’s biggest companies. Unilever ULVR is a British-Dutch multinational company who is known for employing more than 170,000 people and its products are being utilized by more than 2.5 billion people a day.

The most amazing thing about Ripple XRP is that in May 2017, it was worth only $2.1 billion while Unilever ULVR was valued at $144 billion. This shows us how much traction altcoins are getting and how the entire stock market is changing to adapt to them.

Nonetheless, now that 2018 is here we can be sure altcoins are going to surge even higher especially since the entire world is paying attention to them.