Altcoins will return to prominence as Bitcoin market cap share is bound to decrease, cryptocurrency exchange Binance has stated.
Binance: Bitcoin Dominance ‘Sticking Around’
In its latest bulletin which went live on September 4, Binance Research, the exchange’s analytics arm, repeated claims made in July that Bitcoin’s current market dominance would not last indefinitely.
Officials also revealed they had fielded interest from investors keen to buy altcoins at lower prices.
“…We stated that we eventually believe BTC dominance will go back down to the 50-60% range. We still believe in this, partly because BTC dominance was below 60% for an extended period, from May 2017 until June 2019,” the bulletin reads.
“It has only been in the past three months or so that BTC dominance has shot up so dramatically, and the crypto-world has found its way of making everyone feel like a prisoner of the moment.”
Altcoins’ fall from grace has become a hot topic among cryptocurrency commentators. As Bitcoinist reported,…