As market capitalisation is now the focus of cryptocurrency enthusiasts and investors, reports are appearing which predict what an altcoin needs to usurp Bitcoin as the biggest cryptocurrency.
According to a CNBC report, Ripple's XRP current circulation is 38,739,144,847 digital coins which mean the price would only need to get to $6.80 for its market capitalisation to be bigger than bitcoin's. That means XRP would need to surge 165% from the current price. But that's not unlikely though, given that Ripple price increased by more than 35,000% in 2017.
Currently, XRP is traded at a price of $2.38, loosing significant value from last week when it had reached $3,80, and its market cap is $92 billion, according to CoinMarketCap. Bitcoin's market cap, meanwhile, is $250 billion.
Another contender for the cryptocurrency throne, Ethereum, would need to rise more than 130% from its current price to surpass Bitcoin, given it has a a circulating supply of 96,846,982 ETH. But that surge is more unlikely because Ethereum is already at $1,078, thus an increase of 130% means that Ether price would need to reach $2,700 to surpass the market capitalisation of Bitcoin.
Apparently, both XRP and ETH benefit from having larger circulating supplies than Bitcoin. It means the price of each digital coin can be lower to achieve a higher market cap. Bitcoin's supply is capped at 21 million with the current supply standing at 16,789,425.
What do you think? Will XRP reach 7 dollars to overthrow Bitcoin? Is Ethereum likely to rise to $2,700 and above soon? Will Bitcoin defend its dominance among all cryptocurrencies?