Market share of Bitcoin gradually shrinks

Baku. 26 December. REPORT.AZ/ Bitcoin's share in global crypto-currency market is gradually decreasing. 

Report informs, market share of Bitcoin on December 27, 2016, that is exactly a year ago was 87.94%. Today, this figure is 44.1%. During a year, minimum share of bitcoin in market was recorded on June 18 (37.81%).

Analytical Group of Repot News Agency does not rule out that bitcoin’s role can gradually shrink in crypto-currency market. Gradually, the bitcoin’s power can be abolished as a result of creating subtler "altcoins".

"For example, the Ripple coin used today in money transfers and by European banks seems to be a more promising investment.

Notably, Turkey’s conservative bank Akbank announced that it had started money transfers using the Ripple block chain iin the bank, adding that it would save a lot of money in this way.

Analytical Group says that after a certain period of time, the number of crypto-currencies will decline and there will be a few, possibly even a digital currency worldwide. This currency can be used in all transactions.

Notably, there are currently 1,382 altcoins, 7,887 exchanges in the crypto-currency market. Aggregate capitalization of the market is $ 585 bln.