Bitcoin’s dominance declines as altcoins take over

In the following years, a host of new cryptos were launched, such as Litecoin and Ethereum , each offering novel features and use cases that were lacking in bitcoin .

The following chart shows BTC’s dominance since 2013 – meaning, what percentage of the total crypto space it occupies in terms of market cap.“Bitcoin’s dominance of the crypto space has declined from 100% a decade ago to around 42% today,” says Jon Ovadia, CEO of crypto company OVEX. “That’s still a large chunk of the total crypto market but it shows that there are other interesting cryptos that have steadily grabbed a piece of the spotlight.

“Cryptocurrencies like Fantom [FTM] have been exceptional performers over the last year. It is up 11 000% over the last 12 months, because of the commercial opportunities it presents. It operates in the smart contract space, and can reduce transaction speeds to less than two seconds – which any successful project in decentralised finance [DeFi] strives to achieve” says Ovadia.

“Clients can purchase these cryptos through OVEX. While we generally offer this to those prepared to invest R250 000, we are negotiable on this point. Our clients want to be able to access a far wider range of coins, including stablecoins, than is generally available on local exchanges in SA.

OVEXIO Crypto is the future here!!

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