Why altcoins are the future and not bitcoin or ethereum
In today's cryptocurrency blog post we will be discussing why I believe altcoins are the future and not Bitcoin or Ethereum. In this blog, we are going to cover topics such as bitcoin losing its dominance to altcoins and why Ethereum is slowly becoming next. Now there are many altcoins so there isn't one for sure yet to take over the dominance these coins have but it is surely happening as I'm writing this blog and as you read it. We will start seeing altcoins becoming mainstream as time goes on and we can already see it happening with celebrities and companies getting into these altcoins by adopting and investing in them. Let's get into the rest of the blog and discuss today's blog article.
Bitcoin loosing market dominance
One of the main reasons that bitcoin is going to lose its dominance is because it's the first cryptocurrency. Since it's the oldest crypto and is still very basic with the bitcoin team just recently getting smart contracts onto the blockchain it's eventually in the future going to lose its number one spot. Now if that means Ethereum is going to take over or some altcoins I don't know but what I can say is that when this happens altcoins will pump to the moon. We can already see bitcoin losing its dominance over the last couple of months. With bitcoins dominance already going down by 5% percent over the course of a month. This proves that bitcoin is already at an increasing rate losing its dominance.
Ethereum slowly getting less and fewer dominance gains
Ethereum has slowly been getting fewer gains compared to other altcoins in dominance for the market. We can see this happening with the chart below showing that Ethereum has slowly been getting less dominance as pumps come and go. It has already lost 1 percent since the initial pumps back in May. Now I don't expect it to start going negative in dominance like how bitcoin is now but I do expect it to get to that point at some time down the road. However for now it seems that Ethereum will slowly start losing gains till it starts losing dominance. Now the reasons for this do vary but what I think are the main causes are high gas fees that persist and the fact other ecosystems are developing and offering more incentives than Ethereum and are making adoption easier than Ethereum. This leads us to our next topic of discussion.
Why Altcoins will soon lead the market
Now altcoins I deeply believe will be what leads the future market and I've partially explained why outside of altcoins themselves why that is by discussing bitcoin and Ethereum's dominance. But there are many more reasons for this I'm just going to cover the main important points as for this. So to start I think we should cover the number of opportunities there are in altcoins to make money compared to Ethereum and bitcoin. I don't know how many times a day I hear about an altcoin getting some crazy gains compared to Bitcoin or Ethereum. Now if we want to talk about a realistic runner-up to bitcoin and Ethereum then it's probably not going to have crazy gains like 100x or 50x but more like getting gains like 10x or 5x. What is going to lead altcoins to the top though is the technology and concepts behind them. This leads to our next topic at hand.
Which Cryptos will lead the way
Now to be completely honest I can't give you a completely accurate pick of cryptos that will be leading the market in the future. But I can give you some ideas on which crypto will most likely take the lead. So to begin I think one of the most likely options to take over as the number one spot is Polkadot and my reasoning for that is because of the technology and goals behind the team and project. What Polkadot is going to do is revolutionize the cryptocurrency market by allowing different ecosystems to talk and operate with each other through Polkadot. Polkadot is almost essentially a layer zero cryptocurrency that will connect all the blockchains and allow them to interoperate with each other.
Another crypto we should consider is a layer 1 called Cardano(ADA). This cryptocurrency is a serious competitor to Ethereum. The reasons for that are the cheap and pre-set fees and the fact the ecosystem is looking promising. Now as of right now Cardano's ecosystem isn't as developed as Ethereum's. Nonetheless, the projects on the ecosystem are looking promising. Another group of potential layer ones that could take over is the centralized cryptos. Coins such as Binance coin and Solana are good examples of these cryptos that are centralized and could take over. Although that would be quite ironic as the point of blockchain and cryptos is to be decentralized.
My Final Words
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