Is There An Oligopoly In The Crypto Currency Market?
The number of transactions on blockchain is increasing in hundreds by the second, which obviously goes on to show the impact digital currencies are having on the world. But there is a certain trend of increase which blockchain is very keen to show, and that trend has shown that a few currencies have absolutely dominated the market relative to others.
You will probably find some familiar names here, and you can be assured that this fame is not for granted.
The Mother of crypto currencies will never die out despite of how haters come up and declare that it has gone obsolete or has saturated its market. The developers of the currency know just how much it is in demand, and there is no doubt that it is still the leading player at blockchain, Coinbase, or any other exchange and statistical site you find.
Though Bitcoin may be the leader of the market today, people tend to believe that Ethereum is just waiting on the perfect time to take over. With backing from top controlling organizations in the world such as Microsoft, and an increasing number of western private investors validating the currency, it has had an upward trend that refuses to go down over the past few months.
XRP is by far one of the cleanest crypto currencies out there, because the developers have not gone through any questionable hacking strategy that might give the currency an edge over its competition. It is increasingly being used as a safe exchange to Bitcoins, but will very soon establish itself as an entity in its own.
This is a rather shady currency, with not a lot of coins out there but certainly a lot of demand. Dash has been accused to be the currency that finances criminal acts, and has gone a lot of reordering, but professionals know just how solid the program really is and how it can bounce back in the market.
Can The Tides Turn?
As far as the future is concerned, there is nobody who can predict if the structure is likely to be the same or can change considerably. Seeing how people have started springing leaks in the system and use it for fraudulent purposes, there is a chance that many countries might get rid of these before they fully reorder.
However, one trend that seems to be making investors unsure of where to place their bids on is the rising trend of Ethereum and the stalled position of Bitcoins. Very soon, experts are saying that the two will become almost perfectly interchangeable, because Ethereum is superior to Bitcoins in most aspects except for the number of people who know about it.
Once it reaches out to more heated markets, the lead of Bitcoins might be broken, and if that happens, maybe the oligopoly can break to form a monopoly, especially because there are many Ethereum powered crypto currencies out there. However, there is still a lot of time before these shifts might come to life, so use the currencies wisely for short term investments.
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