BTC remains dominant despite its declining market share
May 6, 2022 (Investorideas.com Newswire) Bitcoin (BTC) is the predominant crypto asset in market capitalization terms. The premier crypto has a cap of $752.48B at writing, but that is on a downward trend. Many alternative coins (Altcoins) have sprung up, challenging its stranglehold of the crypto market.
Ethereum is the second most popular crypto after BTC, with a market cap of $353.62B, that's half the latter's. Rounding up the top three is the Tether (USDT) stablecoin. The digital asset has a cap of $83.15B and is the most traded currency.
What's the crypto attraction?
There are various reasons why people invest in cryptocurrencies. One reason is that they believe in these assets' long-term potential and growth rate. Cryptos have some of the highest returns on investments (ROI), making investors find them better options than traditional stocks or bonds.
Secondly, some want to profit from trading cryptocurrency coins and not just holding them. The highly fluid crypto space is perfect for experienced hands to profit from trading cryptos quickly. Besides, new developments in the space like DeFi enable investors to earn handsome returns by providing financial services.
While there is no doubt that blockchain technology has disrupted many industries, it is still essential to be cautious when investing in cryptos. They are highly volatile and risky ventures.
Read the full story here: The number of cryptocurrencies worldwide are now in excess of 10,000
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