The bitcoin and other altcoins move conversely with respect to price values and dominance in the markets of digital assets. The Bitcoin was standing at $3,500 at the start of 2019 but its rally achieved the mark of $13,300. The dominance of Bitcoin overcome the power of other cryptocurrencies and one can see the downfall of altcoins when compared to BTC.
3 Altcoins out of total Cryptocurrencies
The 68.6% dominance of BTC as compared to 31.4% of all other coins is revealing the overall downfall of altcoins. But it is surprised to find that three coins are competing for the digital gold and swimming above the surface level which are as follows:
- Binance Coin (BNB)
- Litecoin (LTC)
- Chainlink (LINK)
These 3 coins have managed to outstripped the Bitcoin so far as data revealed, collected by the David Martin, CEO of Blockforce Cap, San Diego based firm.
Binance Coin: 364% growth
According to the data, Binance coin (BNB) jumped up to 364% in 2019 as Binance is providing services efficiently to its users that attracts the attention of traders and investors. Moreover, the exchange burns almost 20% of digital coins for circulation purposes that retain a high demand for tokens in the markets.
Litecoin: 214% Growth
LTC is successful in maintaining its position with an increase of up to 214% in 2019. The price was waving at $100 before its halving on 5TH August but now standing at $86 but overall has a good gain in this year.
Chainlink (LINK) has shown a great movement and wondered everyone with an increase of up to 500% in 2019. The price rose from $0.29 at the beginning of the year to $2.35 touched in this month of August. This rally of token outshined both other coins and BTC as well.
Chainlink (LINK) is a better option for investment according to a prominent analyst Josh Rager:
Comparing $LTC and $LINK for someone and thought I’d share. There are huge fans of both but right now $LINK is clearly the asset to be in even with the LTC halving upon us
What do you think about these altcoins? Let us know in the comment section.