It is evident that Bitcoin remains the world’s leading cryptocurrency across the board. The number of daily active averages for Bitcoin is well ahead of any altcoins, further confirming that alternative assets aren’t gaining any real adoption.
When it comes to the cryptocurrency industry, Bitcoin is the go-to option.
Bitcoin is the Crypto Asset That Really Matters
All alternative markets derive value primarily from Bitcoin’s momentum.
Even the currencies in the top 10 by market cap pale in comparison to Bitcoin regardless of how one wants to look at it.
One important statistic is the number of daily active addresses on the blockchain.
As pointed out by CoinCorner CEO Danny Scott, Bitcoin is clearly ahead of all other markets.
Graph to help visualise #Bitcoin growth of daily active addresses.
Comparison to alts for perspective (Avg daily):
BTC – 700k
ETH – 250k
LTC – 50k
BCH – 25k
XRP – 5k pic.twitter.com/fdqs5n8Yd8— Danny Scott (@CoinCornerDanny) May 20, 2020
In fact, XRP comes out at a much lower figure compared to what most would have expected.
Ethereum is the only one capable of keeping pace with Bitcoin, although it is still well behind the leader.
Surprisingly, Litecoin comes out higher compared to Bitcoin Cash, despite having a lower market cap.
It will be interesting to see how these statistics evolve and change over the coming months and years.
It seems unlikely that Bitcoin will lose its dominant position, even though several people have claimed otherwise.
Image(s): Shutterstock.com
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