CRYPTO Markets Making Wild Changes

I am definitely shocked. Earlier in June, we were talking about the "Flippening" with Ethereum taking over Bitcoin. Now, Ripple has just surpassed Ethereum!! This is pretty wild to me. Before the rise of most other alts, Litecoin was the 2nd place condender, and now that just got passed by Cardano!

These markets are sure wild right now. What's crazy is that now, the race isn't even close for second place. Ethereum would have to rally 32% at this point just to tie Ripple's market cap. I think this could be possible, but definitely seems like a huge struggle.

In addition to the overtakings of some places, we see the BTC dominance in the market keep slipping. It used to be that if BTC fell below 50%, there'd be a huge rally and we'd see BTC pull back into more than 50% market dominance. The crazy thing is that Ripple is only about 2.5 times away from BTC. Now, I definitely believe we will see something take over BTC since it's such a garbage coin in terms of fundamentals and fees. One thing I never would have predicted is that we'd be looking at Ripple being the contender for now to do it.

I'll make a post later about the usages of cryptocurrencies, but primarily my thoughts are that they will stay within the utilization of whatever chain they are on. What's certain for now though is that hype is sustaining and once hype starts building for one specific thing, it's tough to slow it down.

It'll be interesting to see what'll happen soon and if BTC can extend it's lead, or if Ripple can maintain second place.

Happy trading!