The term Marketcap refers to the whole value of the entire digital currency and is calculated by simply multiplying the supply of the virtual coin by the price per unit. Currently, Bitcoin is the largest cyrptocurrency by market cap, it created a massive buzz last year but so far has a gentle, slow start to the year.
Many cryptocurrency investors are looking at alternative cryptocoins since they missed out on the opportunity of investing early in Bitcoin.
Ethereum and ripple seem to have a great start to the year. People are already speculating which cryptocurrency is in hot seat to takeover Bitcoin as the biggest cryptocurrency in 2018.
Currently, Both Ethereum and Ripple have been juggling for the second spot. That jostling turned un-expectedly volatile on last Monday as the price of ripple tumbled but so did Bitcoin and other cryptocurrencies as well. Ripple is still facing a down slide at the time of writing this article but there is something investors need to watch out.
Ripple’s current circulation is 38,739,144,847 digital coins. Although ripple plunged down $7billion in last 48 hours but it is still tipped as the cryptocurrency to outster Bitcoin.
For ripple to surpass this, the cryptocurrency just needs to get to $6.57. This would require a rise of 164 percent. It rose nearly 36,000 percent last year. That being said, if Bitcoin sees a substantial surge in price in 2018 again like it did last year, it will make it harder for any cryptocurrency to go over it.
Still, some experts have suggested that ripple has run ahead of itself. Ripple typically works with big institutions and unlike bitcoin, many ripple coins are actually owned by the company.