Bitcoin has been performing well over the past few years and has been ruling the crypto market. But as more cryptocurrencies have been evolved, this trend has started to change.
Top five coins this week on the charts that are moving higher are BCH, Litecoin, XRP, Ethereum and Bitcoin, all but Bitcoin remains constant.
In the past 24 hours, Bitcoin only moved 0.5% in the 24 hours trading. While Ripple’s XRP moved by 10%, Ethereum by 8% and Litecoin and BCH moved 6% higher.
Due to the rise in XRP, markets have gone higher and is a result of a civil war that is being going on in the XRP community. A disturbance has been rising in the XRP community as Ripple sells its XRP to the clients so that various investments can be done in the funds.
A quarter to quarter increase of around 48% has been noted in July. It is estimated that Ripple will own the 60 billion XRP tokens out of 100 billion tokens.
A Twitter user wrote that “I am thinking about forking XRP so we don’t have to deal with the founders dumping and this will be a community effort”.
A petition on Ripple which said to stop dumping Ripple XRP has till now received more than 3500 signatures in one month.
Bitcoin on the while has increased up to 200% has been trading quietly in the last few months as the news of Facebook’s Libra could bring any change in the cryptocurrency market.
On the other side, another door has been opened for the investors as the dominance of bitcoin has weakened and bitcoin, as compared to the rest of the market, climbing to levels in the two years, is not visible.
According to the data of CoinMarketCap, the dominance of Bitcoin has increased from 50% to 70% this year.
On the other hand, the world’s 10th largest cryptocurrency stellar also saw a rise of 10%.