As documented here early Saturday, crypto mania is closing out 2017 on a characteristically outlandish note with Ripple overtaking Ethereum as the second-largest digital currency.
Ripple’s furious December rally has translated into a YTD gain of more than 30,000%, a number so mind-bogglingly ridiculous that it renders the English language completely insufficient as a tool for communicating the sheer scope of the absurdity.
The fact that Ripple has a fidget spinner for a logo only serves to enhance the comedic value of the story. The only way it could be any more amusing is if they changed it to a flying pig.
Of course the rise of alt-coins comes at the expense of Bitcoin dominance. That’s much to the chagrin of the Bitcoin crowd which is loath to relinquish the coin’s iron grip on what amounts to a monopoly on make-believe internet money.
And so it brings us great pleasure on Saturday to present the following chart from coinmarketcap which shows that Bitcoin dominance is approaching an all-time low:
Fortunately, there’s still time to “diversify”…
The Ripple organization has a professional appearence. It also is transacting a feasible cost. Given a murky future in this space, it was clearly waiting to be “discovered” a month ago. It is more profitsble to take the temperature of the water than be a skeptic. That is the world we live in. BitCoin is swimming in the Arctic.