In the August bear market recovery, Altcoins with progressing prospect of successful projects increased valuation and performed better than Bitcoin, Ethereum and meme coins. ADA and SOL are amongst the outperformers at all-time high, due to favourable ecosystem and growth prospects.
| 10am UTC | 2/1/2021 | 19/5/2021 | 30/6/2021 | 31/7/2021 | 8/8/2021 | 15/8/21 | 22/8/21 |
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| 1 | BTC | 70.68 | 39.22 | 46.36 | 48.62 | 45.59 | 44.28 | 44.10 |
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| 2 | ETH | 10.79 | 19.14 | 17.36 | 17.69 | 20.13 | 19.14 | 18.14 |
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| 3 | ADA | 0.71 | 3.13 | 3.01 | 2.57 | 2.57 | 3.52 | 3.75 |
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| 4 | BNB | 0.71 | 3.81 | 3.18 | 3.33 | 3.26 | 3.44 | 3.62 |
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| 5 | XRP | 1.40 | 2.73 | 2.23 | 2.14 | 2.06 | 2.97 | 2.71 |
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| 6 | DOGE | 0.09 | 3.01 | 2.36 | 1.67 | 1.85 | 1.92 | 1.99 |
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| 7 | DOT | 0.96 | 1.86 | 1.07 | 0.95 | 1.12 | 1.13 | 1.32 |
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| 8 | SOL | 0.01 | 0.74 | 0.64 | 0.54 | 0.59 | 0.63 | 1.01 |
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| 9 | USDT +USDC | 3.25 | 3.54 | 6.05 | 5.46 | 4.88 | 4.56 | 4.39 |
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| 10 | others | 11.40 | 22.82 | 17.74 | 17.02 | 17.94 | 18.40 | 18.95 |
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The market share of all smart contract platforms as a percentage of total crypto market cap, which now exceeds 27%, up from 14% at the beginning of 2021. Among the top 50 coins by market cap, VanEck sees some half dozen with the track record, size and community engagement to perhaps someday rival Ethereum, or at least to turbocharge adoption of decentralized applications by offering users more choice of platforms on top of which to build.
Cardano (ADA), a blockchain protocol which plans to release smart contract functionality this month, ranks8/10 on quantitative measurements of historical network performance but 2/10 on social engagement, according to a VanEck research. The market has bid the Cardano coin to a $44B valuation in anticipation of a successful launch, based on technical projections put forth by Cardano and the pedigree of its founder, Charles Hoskinson, a co-founder of Ethereum.
Solana (SOL), a smart-contract platform that promises an absurd 50,000 transactions per second, presents another challenge. Although the protocol says it has processed a whopping 23B transactions since early May (more transactions than all layer one protocols combined since inception), Solana does so with extremely low fees, which raises questions about the prospects for monetization. According to SOL CEO Anatoly Yakovenko, who worked on TDMA radio technology at Qualcomm before founding Solana in 2017, the protocol's unique "proof of history" consensus-building algorithm may eventually support more than 700K transactions per second, fast enough to trade regulated, tokenized securities representing nearly any asset class in the world simultaneously, with the entire order book on the blockchain.
As cash transactions continue to decline in proportion, and crypto-enabled wallets continue to take market share from banks, consumers will increasingly encounter a range of smart contract platforms and decentralized apps on which to perform transactions ranging from large-scape financial settlement to encrypted chat, low-value NFTs, music filesharing, securities trading, and lots in between. The successful rollout of Ethereum's new pricing model represents a major step forward in bringing additional transparency and a more inclusive economic model to the largest smart contract platform. However, in the absence of capacity increases, which don't arrive until 2022, ETH could struggle to hold market share vs. competing smart contract protocols that promise faster throughput at lower prices.
https://seekingalpha.com/article/4449137-ethereum-competitors-and-the-race-to-innovate
