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Hi everyone What's the most recommend way to swap RVN for BTC or ETH? Came across simple swap but not sure if there's a better way. Using Trust Wallet as well. Thanks! submitted by /u/jams100 [link] [comments]
I apologise for the rant. I know this is an Internet forum – but to many of us, this is truly a community. A community that has been around for a long time, where bonds have been made, and people, friends even, have gone through the ups and down of this wild wild crypto ride…
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A new non-fungible token (NFT) project crafted by the American actress and producer, Mila Kunis, has made millions selling NFTs tied to an animated series called “Stoner Cats.” The project is a show that will only allow token holders the ability to watch the upcoming series produced by Orchard Farm Productions, a studio owned by […]
BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000 Validators Milestone, Over $14 Billion Now Staked In ETH 2.0 Over the years, this dominance has decreased as more and more investors put money in altcoins. One reason for this being a lot of investors feel they have missed the boat with bitcoin and thus are trying to get in early enough on altcoins. Others revolve around the new technological advancements being made by altcoin projects. Hence, investors are putting money into projects that they believe in. How Current BTC Dominance Affects Altcoins BTC dominance has continually declined over the past couple of months. Currently sitting at 48.97% dominance, bitcoin now has less than half of the entire market dominance. This trend shows that demand for altcoins is on the rise. So, BTC dominance will continue to see declining numbers. As the dominance declines, the value of altcoins will continue to go up. Market trends indicate that BTC dominance is poised to drop following the latest recovery. BTC dominance currently sits at less than 50% | Source: Market Cap BTC Dominance on TradingView.com When this happens, the demand for alts is expected to pick up very quickly. Leading to another upward wave for the altcoin market. Coins like the number 2 coin Ethereum are forecasted to gain even more dominance as the project gains more notoriety among the investment sector. With ETH 2.0 moving the network to proof of stake and using significantly less power to mine. The reduced environmental impact will mean that mining will become less of a problem. What This Means For Bitcoin Alts gaining more dominance does not negate the value of bitcoin. Currently, there are over 5,000 coins in the market all vying for market share. And some of these projects come with some very innovative ideas and tech. Thus, it is expected that as time passes, some of these projects will become popular. Therefore gaining more market share as more investors come into the market. Related Reading | Fast Money’s Brian Kelly Remains Bullish On Bitcoin, Here’s Why The declining BTS dominance just means that bitcoin is not the only digital asset investors are rushing to get into. Despite decreasing dominance, bitcoin still remains the number 1 coin in the market. Being the first cryptocurrency and the reason why cryptocurrencies are currently so popular. But as alts rally in what is usually known as “alts season,” bitcoin will continue to see declining dominance. This will translate to the price of altcoins rallying massively as interest in them grows. Featured image from CryptoPotato, chart from TradingView.com
