The most Important thing in a nutshell: According to the new report of Binance Trading and Binance Research the Altcoins are going to win in comparison to Bitcoin back to the ground and rise. Binance Trading, the largest OTC traders in the Crypto-Space, is even assumed that in the medium term, the market capitalisation of Bitcoin will stabilize at around 50% of the entire industry.To put it differently: Bitcoin will fall from a 70% dominance on 50%””, which in turn means that the Altcoins in Relation to Bitcoin.The Research Department of the world’s leading Crypto Exchange Binance has just released its monthly report for August. Reason enough to take a deeper look at the findings of the report.
Contents
Binance Research published a monthly report
The latest report of Binance Research reflects first of all the atmosphere in the crypto-market. While Bitcoin dominates the market, what is Bitcoin dominance of 70.9% to derive, lose Altcoins becoming more and more important – already a look at the trading volume shows how high the interest in BTC is compared to Ethereum, XRP and co.
In cooperation with @Binance Trading, here is our latest overview of August’s #cryptocurrency markets through an institutional lens.Amongst them, #Bitcoin dominance reached new highs, and altcoin volumes were near an all-time low. https://t.co/pNHAzYA7tJ— Binance Research (@BinanceResearch) September 4, 2019
Bitcoin dominance-on-the-rise – Altcoins such as ethers, XLM, LTC and ADA bleed
In the document Binance Research provides statistics and analyses for the month of August. Even if many of the metrics (for example, the Coin-in Performance) can be taken from other sources (for example, coin360), the publication of the current Binance Research report well, what a ’hard time‘ Altcoins are going through.Particularly revealing are the Figures for the change in the market capitalization of the ten most important crypto-Assets in this context.Since the last report, the price of Bitcoin fell by just 2.9 percent. The view on the Performance of the Altcoins provides, however, for sweating for many investors.Ether, Binance Coin, EOS, Stellar lumens (XLM) and Cardano (ADA) all reported declines of more than 20 percent compared to the previous month. Litecoin, the worst Top-Ten-Performer of the past month, fell by as much as 33,42 percent. Many of the gains that were priced in the framework of the Halving Events already, are now a thing of the past. Less strong it has made XRP, Monero and Bitcoin Cash. Less -19,67, EUR 15.69 and 15,68 percent is, in this specific case.In the Following you will see the table with the monthly changes of the main Altcoins.Performance of Bitcoin and major Altcoins in the last month, to the extent of the condition. In the Binance report, the current developments in Binance are of course documented. That is to say, the new trading pairs, or the recently added ability to take out loans. The interesting section, however, comes from Binance Trading and deals with ‘the future’ of Altcoins.Trade on the most successful Crypto-exchange. If you’re looking for a reputable point of contact, to act with real crypto currencies, then take a look at our Binance Test 2019! In this article, we have analyzed all the features and benefits of the crypto-exchange in more detail and evaluated. The most the most popular crypto-stock exchange today! Now on Binance sign up.
The Altcoins strike back comes the awakening?
In the second part of the report, the Binance OTC trading Department speculated mainly about the potential for a renewed “Altcoin-Season”. It is said in the report, first of all, a little sobering:
According to our perspective, Bitcoin does not need necessarily support the Altcoins to be a digital Store of Value.
Then Binance is called a (in my opinion) the most important points in what concerns the Performance and the success of Altcoins. Namely, the fact that a lot of Altcoins and their Teams to deliver behind only sparse. And so in the report.
The Altcoin Performance continues to be affected by project self-dependent. For the development of the entire Crypto-industry Altcoins are an integral part of the ripening process.
The OTC Desk confirmed – and now we come to the encouraging part – a forecast he had made in his last monthly report. Binance stated therein, namely, that it assumes, as before, assume that the dominance of Bitcoin is going to go back to about 50 to 60 percent. What time is this, however, will arrive, can Binance open. The only indication that the Trading Desk makes, and reads as follows:
On a short-term point of view, the Bitcoin domination may, however, remain at the current level ‘hang’.
Bitcoin dominance of 70%, an anomaly?
Finally, Binance Trading argued that the Bitcoin-dominance is at its current level of almost 70 per cent of an anomaly in recent history:
It is mainly the last three months, have shot to the Bitcoin dominance so drastically to above. And since then, everyone in the Crypto feels world as a kind of prisoner of the Moment.
At this point, however, I must disagree. Because a look at the history (and not just the past 24 months) the Bitcoin dominance is more likely that values below 70% is an anomaly. But what is normal in the current crypto-market?Do you see opportunities for a return of the Altcoins come from? Can there really be an Altcoin-Season?Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock, Coinmarketcap, Binance Research)