Bitcoin | Government employee accused of mining crypto at public’s expense

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Bitcoin | Government employee accused of mining crypto at public’s expense
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The cryptocurrency market was worth more than $1.6 trillion by the end of the July 2021. And bitcoin controls more than 47 percent of that market, according to Tradingview.com, down from more than 70 percent at the start of 2021. Altcoins, or alternatives to bitcoin, have surged in number and value since 2018. Crypto networks with advanced technologies such as Ethereum, Polygon and Uniswap have captured more and more of the crypto market. And there’s also stablecoins, utility coins and meme currencies like Dogecoin. Here’s how altcoins work, and why they’re becoming a larger and larger force in the crypto market.

Altcoins have become an increasingly larger part of the crypto market since the beginning of 2021.

“Crypto and blockchain is about moving money and property rights onto the internet,” said Matt Hougan, Bitwise chief investment strategist. “That’s one of the largest addressable markets that the internet has ever attacked.”

At the start of 2021, bitcoin made up more than 70% of the crypto market, according to TradingViews. By the end of July 2021, bitcoin’s market share dropped to 48% of the global $1.6 trillion cryptocurrency market, with altcoins such as ether and USDC eating into its dominance. In fact, the crypto market now contains more than 11,000 different kinds of altcoins, according to Coinmarketcap.com.
“Everybody’s trying to do something that hasn’t been done before,” Mati Greenspan, Quantum Economics founder and CEO, told CNBC in an interview.
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We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.
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