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The Year of the Altcoin
It’s no doubt that 2017 was a remarkable year for Bitcoin, with a single Bitcoin valued at almost $20, 000. That said, Bitcoin’s movements over the last year have certainly paved the way for up-and-coming altcoins.
Alternative coins refer to any other cryptocurrency that isn’t Bitcoin. Based on price growth and market cap, Fortune Jack analysed the top performing altcoins from 2017, to find out where these altcoins will be headed in 2018.
Quick View: The Fastest Growing Altcoins of 2017
2017 PERFORMANCE OF TOP ALTCOINS | ||
Currency | Percentage Growth | Market Cap |
1. Ethereum | 9 162% | $119,952,919,813 |
2. Ripple | 36 018% | $79,398,972,323 |
3. Litecoin | 5 046% | $13,161,359,753 |
4. Bitcoin Cash | 501% | $43,522,892,183 |
5. NEM | 29 842% | $12,785,579,999 |
All stats as of 18 Jan 2018
- Ethereum
Seeing a massive 36 018% return in 2017, Ethereum is first on Fortune Jack’s list of altcoins to watch in 2018. In 2017, the coin overtook Bitcoin, which grew 9 162% compared to Bitcoin’s 1000%. Ethereum is a well-known contender to Bitcoin, not only for its leading growth over the last year, but also for its functionality built on a blockchain with several applications and for being a remarkable investment tool.
- Ripple
The second coin to watch in 2018 is the much talked about Ripple, which has a total market cap of more than $79 billion. The price of Ripple appeals to many, with one token costing as little as $2.05 at the time of writing, compared to $2,574.19 for Bitcoin Cash. Ripple has made remarkable progress in 2017, having the highest growth compared to all coins on this list – growing an unbelievable 36 018% last year. And in December, Ripple overtook Ethereum for the number two spot by market cap.
- Litecoin
Launched in 2011 by a former Google engineer, Litecoin has been referred to as the silver to bitcoin’s gold, with a market cap of $13,161,359,753 and a total circulation of more than 54 million tokens. Popular for drastically reducing the time needed to confirm new transactions while insuring more inclusive use of the coin, this alternative to Bitcoin has a growing following of loyal supporters around the globe.
- Bitcoin Cash
Having only been on the market since August 2017, and created as a result of a hard fork, Bitcoin Cash has earned the fourth spot on this list of coins to watch in 2018 – with an impressive total market cap of about $43 billion. Each coin costs around $2 574.19 and investors are looking forward to seeing this newer coin outperform some of the bigger altcoins on the market.
- NEM
Having gained the nickname as ‘China’s Ethereum’, NEM is the currency popular for its POI (proof-of-importance) rather than a proof-of-work system. NEM grew 29 842% in 2017, three times the amount than Ethereum did, with a market cap of more than $12.5 billion.
Investing in Altcoins in 2018
With each coin offering something unique to the blockchain user, here’s a breakdown of what makes each coin a good investment this year:
- While Bitcoin has had a volatile 2017, Ethereum’s growth has been consistent, and it’s expected to reach new heights this year. Not only will its value grow, but so will the number of Dapps on its platform – leaving many excited about the prospects for ETH this year.
- Ripple is known for being the centralised, bank-focused digital currency – but it’s not just a currency, it’s also a system on which any currency, including bitcoin, can be traded. Founded by a fintech start-up, the number of XRP circulating is about 7 billion out of a maximum supply of 100 billion – larger than the other currencies on Fortune Jack’s list of coins to watch.
- Heavily influenced by bitcoin during its development, Litecoin is also one of bitcoin’s biggest global competitors. But, it’s also popular for having four times the total number of bitcoins that can be mined, with a lifetime cap of 84 million coins. On top of that, it has a faster block generation rate, thus offering a faster transaction confirmation. And it’s not just for developers or peer-to-peer transactions – LTC can be widely used, from purchasing a can of soda to buying property.
- Bitcoin Cash is said to take over bitcoin this year since prominent Bitcoin figure, Craig Wright, recently announced his backing for BTH over BTC in 2018. Many investors are now looking to altcoins like BTH for better returns, with Bitcoin Cash already beating bitcoin’s slow transaction times and high costs.
- Similar to what Bitcoin does with payments, NEM levels up with its “smart assets” – taking the appeal of bitcoin and applying it to all technological infrastructures. From loans to health records, businesses see the need to invest more into their company’s digital structure. And since anyone is able to use NEM, (yes, you don’t need to be a programmer to use it and NEM allows coding in any language!) the coin has fast-tracked its way onto the list of coins to watch this year.
2018 Predictions
If you’re looking to invest in one of the currencies on this list, market growth for altcoins in 2018 looks great. Bitcoin’s “dominance” factor is currently only 37.5% – 52.5% down from a year ago when it exceeded 90%.
Remember that no currency is protected from investors pulling out, laws changing, or the growing adoption of altcoins. At the time of writing, the crypto market was in the middle of a huge crash amid a major selloff. And even though most of those values have bounced back, the market is well known for its fluctuating nature, because, like any investment, values are subject to change based on uncontrollable and unpredictable factors
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Industry News
MiFinity to Showcase Innovative iFrame at SiGMA 2024
MiFinity, a leading global payment services provider, is excited to announce its participation at SiGMA 2024, held in Malta from 12 to 14 November. Visitors can find MiFinity at Stand 2012, where the team will be showcasing its award winning PayAnyBank service, and the latest version of the MiFinity iFrame and demonstrating how it helps iGaming operators acquire and retain players with a seamless, flexible payment experience.
Paul Kavanagh, CEO of MiFinity, commented: “SiGMA is a fantastic opportunity for us to showcase our latest developments and engage directly with the iGaming community. The MiFinity iFrame is a game-changer for operators looking to streamline their payment processes and enhance the player experience. We look forward to demonstrating its capabilities and connecting with both existing and prospective partners.”
MiFinity’s Business Development and Account Management teams will be on-site to discuss the new iFrame features in-depth and highlight how MiFinity can optimise payments for iGaming operators. They will also be showcasing MiFinity’s innovative suite of payment solutions developed specifically for the iGaming sector, including MiFinity PayAnyBank — a powerful tool that enables operators to send payouts directly to players’ bank accounts in multiple countries and currencies, enhancing the user experience with faster, more localised transactions and reduced FX fees.
The MiFinity Affiliates team will also be available to explain the benefits of MiFinity’s affiliate program, which offers some of the highest commissions in the industry and unique promotional opportunities via the MiFinity Bonus website.
Meet the MiFinity team at Stand 2012 at SiGMA 2024 to learn more about the company’s solutions and how they are transforming the iGaming payment landscape. Pre-book a meeting with the MiFinity team or drop by the stand during the event to explore how MiFinity can support your business.
Book a meeting here > outlook.office365.com/book/[email protected]/
Latest News
ECA and AGEM applaud creation of Association Assembly at ICE Barcelona
The news that January’s ICE Barcelona will include a major new feature dedicated to global gaming’s most influential trade associations has been welcomed by organisations in Europe and abroad.
Making full use of the additional space at the Gran Via Fira de Barcelona, the first ICE Association Assembly has been created to enable trade bodies to promote their values and create new opportunities for the gaming community across every sector and geography, including both the Brussels-based European Casino Association (ECA) and the Association of Gaming Equipment Manufacturers (AGEM), the global trade association for gaming equipment suppliers with its primary headquarters in Las Vegas.
Erwin Van Lambaart, Chair of the ECA confirmed: “Our members are already planning their week in Barcelona and they will be at this historic edition of ICE in great numbers. ICE is a pivotal event for the global gaming community and having a show floor feature which will enable us to engage directly with all sectors is a unique opportunity.
“Traditionally, our association’s involvement at ICE and its Conference program has primarily centred around networking and product development orientation—connecting with our members, regulators, suppliers, and fellow trade bodies. However, ICE 2025 marks a significant milestone. For the first time, the ECA will have the chance to fully interface with the global industry supply chain in its entirety. We are looking forward to this unique opportunity to articulate our vision for the future to a diverse and comprehensive audience, where innovation, responsibility and significant partnerships for guest and customer centricity will have centre stage.”
Daron Dorsey, CEO of AGEM added: “We represent the interests of our gaming suppliers whose well-known brands are global in reach, so to be given the opportunity to explain our agenda and engage with what is a truly international audience of association colleagues on the ICE show floor is invaluable.”
January’s editions of ICE and iGB Affiliate will occupy 120,000sqm of space compared to the 100,00sqm at ICE 2024. In a major endorsement of the opportunities offered by the relocation to Barcelona 72% of the 25 biggest exhibitors will have an increased stand presence at ICE 2025.
Industry Awards
Blask Wins Prestigious “Startup of the Year” at 2024 Starlet Awards
Blask, the pioneering AI-powered analytics ecosystem for iGaming, has been named “Startup of the Year” at the prestigious 2024 Starlet Awards. The company earned this recognition for developing a groundbreaking market intelligence platform that has redefined how gaming operators leverage data and market insights.
Award Recognition
The award confirms Blask’s revolutionary approach to market analytics and its significant impact on how iGaming companies access and utilise market intelligence. Powered by AI models including Computer Vision and Natural Language Processing, Blask analyses billions of data points across 2000+ active brands to provide unprecedented market insights.
The Starlet Awards recognition follows Blask’s recent SiGMA Asia Startup Pitch 2024 Award victory. “Winning these awards affirms our belief that innovation and bold ideas can reshape the iGaming landscape. The recognition underscores the impact of our cutting-edge AI technology and our relentless pursuit to transform data into actionable insights”, reflects Max Tesla, CEO and Co-founder of Blask
Blask provides operators with a strategic edge across multiple critical areas. Its real-time market analysis capabilities deliver instant access to crucial market metrics, while the high-granularity data available at one-hour intervals enables swift, informed decision-making. The sophisticated AI modelling system estimates GGR and FTD by analysing a comprehensive range of inputs, including historical data, third-party OSINT data, market performance, competitor metrics, historical brand performance, market reports, and public company disclosures.
Beyond analytics, Blask offers robust brand monitoring and competitor analysis tools, alongside strategic and tactical planning capabilities particularly valuable for market entry decisions and maximising performance during major events. The recently introduced customer profile feature harnesses AI to generate detailed, country-specific user profiles, adding another layer of strategic insight for operators.
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