I’ve been looking at some of top altcoins, such as Bitshares, Monero and such.
Bitshares’ market cap is $9 million (so, more than
MAID), its largest exchange is Polo (same as
MAID, but 80% vs. 100% share in case of
MAID) and there’s just 129 BTC of buy orders (vs. 52 BTC for
MAID, but Bitshares is v2.0 whereas the SAFE Network hasn’t yet launched).
At the same time, in the past 24 hours as many as 1,759 BTC (!) was traded. That is totally crazy.
Obviously one of main reasons is the ongoing BTC craze, but one can’t help but wonder whether these until recently supposedly promising Bitcoin 2.0 altcoins will ever recover. Probably they were impacted by Ethereum as well (the smart contracts/apps side of altcoins).
Today there’s a “catch-up” in some of them, which is also very interesting. Perhaps the buyers think BTC is already overpriced so they’re buying the next thing that ought to go up?