I've noticed that some altcoins follow USD pretty closely instead of Bitcoin or Ethereum. That means, most of Bitcoin (and Ethereum) trading volume comes from something else than trading against altcoins, but we already knew that...
Primary market pairs for altcoins for last year or so have been Litecoin first and then Dogecoin. I've seen some very small exchanges switch to stablecoin pairs, but those exchanges barely attract any bigtime traders, so total daily volume is less than 100 USD.
You can check them with statistics sites like CoinLore... Basically the site still shows positive gain values for USD, but negative values for other base currencies... There is few thousand cryptocurrencies listed on most statistics sites, so going through all of them is pointless...
I haven't tried loading all the pages to verify that, but it might well be true.... If the coin or token is worth at least 2 satoshis, then it might be traded enough against Bitcoin.
Most Altcoins have been under performing bitcoin for a while now...
I've noticed that some altcoins follow USD pretty closely instead of Bitcoin or Ethereum. That means, most of Bitcoin (and Ethereum) trading volume comes from something else than trading against altcoins, but we already knew that...
Primary market pairs for altcoins for last year or so have been Litecoin first and then Dogecoin. I've seen some very small exchanges switch to stablecoin pairs, but those exchanges barely attract any bigtime traders, so total daily volume is less than 100 USD.
What altcoins follow USD instead of btc?
You can check them with statistics sites like CoinLore... Basically the site still shows positive gain values for USD, but negative values for other base currencies... There is few thousand cryptocurrencies listed on most statistics sites, so going through all of them is pointless...
My own cryptocurrency clearly follows USD.
Most go up and down with bitcoin.
I haven't tried loading all the pages to verify that, but it might well be true.... If the coin or token is worth at least 2 satoshis, then it might be traded enough against Bitcoin.