Bitcoin Vs. Altcoins: Performance
By Lamium on Altcoin Academy
How bitcoin’s performance can be compared with altcoins? When comparing altcoin prices to the US dollar (USD), the majority of altcoins seem to have been rising in value. However, when cross-checking price data with bitcoin, altcoin performance during the second quarter of 2019 does not look that bullish.
Litecoin (LTC)
Litecoin was launched by Charlie Lee in October 2011 as an attempt to make bitcoin more scalable and faster. Litecoin’s price compared with bitcoin dropped drastically at the end of 2019’s second quarter, peaking at 0,018 in May, dropping to 0,01 in June.
Ethereum (ETH)
Ethereum is a public, open-source, blockchain-based distributed software platform, that allows developers to create and deploy decentralized applications. The platform’s currency is called ether. Ethereum’s price has stayed in the 0,3 range, dropping to 0,026 in late June.
Ripple (XRP)
Ripple is known as a Real-Time Gross Settlement System, the currency traded is known as XRP and transfer times are immediate. XRP isn’t made up of a blockchain but rather a “hash tree” and its currency can’t be mined because there are a finite number of coins, one billion. Ripple (XRP) dropped from April high 0,0000754 BTC to May low 0,0000416 BTC, continuing the bearish trend in late June.
Bitcoin SV (BSV)
Bitcoin SV (Bitcoin Satoshi’s Vision), was created out of the hard fork of bitcoin cash (BCH) on November 15, 2018. It seeks to implement the proposed “original vision” of bitcoin through an emphasis on scaling on-chain as fast as possible. BSV’s price rocketed briefly to June 0,029 BTC, later dropping into 0,017 BTC in late Q2.
Monero (XMR)
Monero was created in 2014. Monero utilizes senders’ unique ring signatures, confidential, recipient addresses and Ring Confidential Transactions to enable privacy and prevent coins from being spent more than once at a time. Monero’s price remained relatively stable compared with bitcoin, slowly inching lower from April 0,014 range to June 0,008 and consequently below.
Dash (DASH)
Dash, a derivate of litecoin (and bitcoin), was introduced in 2014. A unique feature of dash, is that it has masternodes that stake at least 1000 DASH in order to have the ability to instantly confirm transactions. The price of dash lost its momentum against bitcoin, dropping from early quarter 0,027 BTC to late quarter 0,013.
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