Has The FTX US President Predicted Bitcoin’s Market Share Loss to Altcoins in Near Future?

The leading US Crypto Exchange Institution’s President states that Bitcoin’s supremacy in the market share is not inevitable in the future. FTX US President Brett Harrison shared his opinion of altcoins such as Ethereum and Solana are eating into Bitcoin’s portion of the pie. After the fame gathered by Bitcoin (BTC), altcoins were introduced into the crypto space. They became the finest alternative cryptocurrencies in the cryptocurrency market to address Bitcoin’s drawbacks and provide better alternatives to various new versions. It has been seen that altcoins are gradually gaining control of the cryptocurrency market. According to Harrison, the popularity garnered by Bitcoin’s competitors and the trend of BTC’s waning dominance over the crypto market will most likely continue. As he discusses Bitcoin dominance, he states that “The percentage of market cap and market moves coming from Bitcoin has been plummeting down over time.” An asset like Ether, various alternative proof-of-stake assets such as Solana (SOL), and many other altcoins are all assisting the increase in market capitalization. The cryptocurrency market has been experiencing the advantageous benefits of Altcoins. This is beneficial for investors to reap rewards of smart functionalities like improving Bitcoin flaw that includes mining cost, creating space or new competition to the Bitcoin system, and creating a more secure blockchain with lesser transaction fees. ...