A Brand New Market Cap Wow! Look at it go! I’m talking of course about that ever-expanding coin market-cap, touching $800 Billion as I write these words. Yes, that’s very close to a Trillion bucks. And it’s still growing. At the start of the year (just over 5 days ago) we sat around $670 Billion, when seemingly out-of-nowhere, we all started watching the Ethereum (ETH) in our digital-wallets expand with fiat value. A World of Smart Contracts First to $750, then to $1000. Ethereum (ETH) may not be finished yet as it skyrockets alongside this new market-cap. But Ethereum (ETH)
A Brand New Market Cap
Wow! Look at it go! I’m talking of course about that ever-expanding coin market-cap, touching $800 Billion as I write these words. Yes, that’s very close to a Trillion bucks. And it’s still growing. At the start of the year (just over 5 days ago) we sat around $670 Billion, when seemingly out-of-nowhere, we all started watching the Ethereum (ETH) in our digital-wallets expand with fiat value.
A World of Smart Contracts
First to $750, then to $1000. Ethereum (ETH) may not be finished yet as it skyrockets alongside this new market-cap. But Ethereum (ETH) isn’t the only game in town. Altcoins utilizing the Ethereum blockchain, incorporating smart contracts into their peer-to-peer platforms, are also benefiting greatly from the influx of cash into our favorite exchanges. As an example, Ethlend (LEND), a little-known lending platform based on Ethereum (ETH) and ERC-20 tokens, has more than doubled with the new growth. Tron (TRX), a potential digital media platform that will transfer user information across games, social media sites and even casinos, shot up from 5 cents to over 20 (quadrupling once again) in the immediate stages of this new cash-influx (yeah, I know, it fell a bit since).
But these aren’t the only examples. Go ahead and look at your own wallet(s) if you haven’t in a week or so. You might be surprised at what you find. It seems it’s an Ethereum (ETH) based world we live in now, and this doesn’t look to be the regular pump-and-dump kind of action we came to expect from the half trillion-dollar market of yester-year.
Predictability in the Market
Better still, the rise in all of our favorite altcoins (I’m thinking outside of the mainstream coins on Coinbase here) is happening on a somewhat predictable schedule with the slight dips we see in the price of Ethereum. In this new crypto-universe, it seems money is no longer held fast to Bitcoin’s (BTC) gravitational pull. Instead, after transferring Ethereum over to the exchanges, it is traded out to some degree for these smaller, lesser known coins.
And why not? How many quadrupling’s, how many 1000% gains, have to occur before we all realize where the real money is in the crypto-space.
Bitcoin (BTC) is Still the King
With great reward comes great risk, however. And as we dip our toes into the expanding options offered on these burgeoning exchanges (I’m looking at you Binance), we should both fear and respect the influence of the king, Bitcoin (BTC). After all, with this much money in the market, there should be no doubt any longer that Bitcoin (BTC) has survived the shock of winter and is coming right back to secure it’s place at the top of the heap (not that it ever lost it’s position).
And when Bitcoin (BTC) rises, the influence of Ethereum is again lost (if only temporarily). And with Lite-speed (we see you Litecoin (LTC)), our gains from the day seemingly vanish as the masses clamber to secure their wealth in this awesome powerhouse of value. With that said, you better believe that Bitcoin (BTC) is still very much king around here. It’s just not the only player in town anymore.
Conclusion
So whether you are an Ethereum (ETH) or Bitcoin (BTC) believer, chances are you will do well this year, as there just may be room for both with this brand-new market-cap. For Ethereum, the utility of the product and it’s derivatives are immutable. The smart contract and it’s effects on all of our lives will no doubt be solidified and documented throughout the year(s). And as for Bitcoin (BTC), the ultimate storage for our coveted Satoshis, we should probably all still pay homage when we’ve reached a comfortable level of gains in the alternative currency market (If we want to keep them).