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Non-Bitcoin Asset Blockchain Market Capitalizations Jump 1600% in 3 Years

Bitcoin remains king of the hill in blockchain market capitalization, but alternative asset blockchains are nipping higher at bitcoin’s heels.

Non-bitcoin asset blockchains have expanded market value significantly in the last three years, jumping 1,600% while bitcoin’s market gap grew 300%, according to an analysis of coinmarketcap data by Venturebeat.

The article, written by Alex Sunnarborg, chief financial officer and co-founder at Lawnmower.io, a mobile app for investing in blockchain and bitcoin technologies, notes that the expansion of non-bitcoin assets offers investment opportunities for those looking to diversify portfolios.

Blockchain Assets Grow

The market for non-bitcoin blockchain assets totaled $92 million on April 28, 2013, while bitcoin exceeded the $1 billion cap one month earlier. The non-bitcoin blockchain market exceeded $1.6 billion on March 21, 2016. (By then, bitcoin was at $6.318 billion.)

Chart 1

Data Source: Coinmarketcap

Chart 2

Data Source: Coinmarketcap

Charta 3

Data Source: Coinmarketcap

Chart 4

Data Source: Coinmarketcap

Charat 5

Data Source: Coinmarketcap

Source: Coinmarketcap

Data Source: Coinmarketcap

Source: Coinmarketcap

Data Source: Coinmarketcap

Bitcoin accounts for roughly 80% of the total blockchain asset market. Fifteen blockchain assets have surpassed the $50 million market cap.

Bitcoin’s Lead Frim

A list of the top 15 bitcoin assets based on the highest market cap reached indicates that bitcoin commands a clear leadership position at more than $13 billion, reached Dec. 1, 2013. The only other blockchain asset to exceed $1 billion is Ethereum, which hit $1.103 billion March 13, 2016. The third highest asset was Litecoin at $934,938,972 on Dec. 1, 2013, followed by Ripple at $756,028,823 on Dec. 21, 2014.

Bitcoin’s lead is even larger as of March 20, 2016, holding $6.317 billion, followed by Ethereum at $820,598,600, Ripple at $273,362,766, and Litecoin at $143,750,234.

Source: Coinmarketcap

Data Source: Coinmarketcap

The Top Altcoins

Following is a review of the top non-bitcoin asset blockchains.

Ethereum is a decentralized platform that operates smart contracts on a custom-built blockchain. The applications run according to a program, with no chance for censorship, downtime, fraud or outside interference.

The initial sales of Ethereum’s Ether currency in September 2014 delivered more than $18 million, marking the fifth place highest funded crowdfunding project ever.

Also read: Ethereum’s growth draws support from more platforms

Litecoin, released in October 2011, features decreased block time compared to bitcoin; 2.5 minutes versus bitcoin’s 10 minutes. It also has a larger supply – 84 million, four times as many currency units as bitcoin. There is a different proof-of-work block-hashing algorithm than bitcoin – scrypt instead of SHA256.

Ripple, launched by Ripple Labs in 2012, is creating a global financial settlement network consisting of system integrators, financial institutions, international payment originators and others to provide an alternative to the current system for cross-border settlements. Ripple’s system of confirmation is called consensus and does not require mining, resulting in a different supply structure. One way it differs from bitcoin is that Ripple can automatically exchange and send any currency.

Dash, currently number five in current market capitalization with $37,326,845, is based on the bitcoin software. It claims to be a privacy-centric digital currency providing instant transactions.

Maidsafe, number six in current market capitalization with $37,169,240, developed the Secure Access For Everyone (SAFE) network from unused processing power, data connection and hard drive space from its users.

Featured image from Shutterstock.


TheBitcoinNews.com – leading Bitcoin News source since 2012

Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.

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