For anyone in the crypto market, mega volatility is part of the play.
As I was about to get into the task of buy a couple of different altcoins I noticed that I was probably a bit behind in the general culture and offering that the altcoin market had to offer. Actually the only two that had come up on my radar were Ripple and Potcoin
First up was Ripple
Ripple was of interest primarily because of its true potential as a Global
Settlement Network, and the potential to do something real for the financial market through instant, certain, low-cost international payments. So in essence it is something real that will have repercussions on how finance works. In a few words; Ripple works with banks to transform how they send money around the world.
And the second had been Potcoin.
Which I have to admit came up on my radar because of its this story. When ex-basketball star Rodman wore it logo on his trip to North Korea recently. As predicted (and planned by Potcoin marketers) the currency soared. Which in part merits an analysis on its own. Is this the type of price fluctuation you get when there is a simple mention of the currency in a high profile news item. Begs the question of exactly how volatile and how susceptible the currencies can be. Is this to be considered market moving news for the currency? If so I’ like to steer clear of an asset like that.
Many more cryptocurrencies each with strong valuations and different strengths
All said mine was a slightly blinkered approach. The world of cryptocurrecncies will change indefinitely. And as the space gets more and more crowded its good to have some benchmark to tune to to see just how may currencies are around at the moment and where there market value is at.
So as a happy coincidence I discovered the is post and a neat little graph following the fortunes and volatility of most know altcoins around. Its not gospel and certainly doesn’t give the full picture behind market cap and volatility. Still, its in its basic form and interactive graph ranking the 20 Most Valuable Cryptocurrencies Over Time.
Worth a look.