Although there is some merit to the argument that one’s success in the space of crypto helps the health of all crypto in the market, it should be noted that there are some coins whose teams and communities have taken a position of spite and even hatred against their competitor’s projects.
Top 5 Biggest Cryptocurrency Rivals
Here are some of the most well-known rivalries that exist in the cryptocurrency market.
Binance Coin And KuCoin Shares
When Binance was unveiled as one of the top altcoins exchanges at the start of 2017, it suffered a litany of problems like high fees, dust issues, and registration problems that prompted many traders to look elsewhere for a better solution than Binance. As a result of these problems and the mass exodus of Binance customers, Binance and KuCoin are some of the most rivaled coins in contention.
At the present moment, BNB has a cap of nearly USD $900 million, which makes it worth over 3 times as much as KCS. In comparison on an exchange level, Binance has a 24 hour trade volume that currently overtakes all other exchanges with USD $2 billion; this means that the exchange is appreciably bigger than KuCoin. But the daily dividends earned by KCS have earned it a large number of investors, and could conceivably overtake BNB if KuCoin experienced a rise in trade volume.
EnjinCoin And GameCredits
Ever since EnjinCoin began its rebound from its lows in November of last year, the investors of the coin entered new markets looking for revenge. EnjinCoin was not interested in beating other currencies; it wants to be the only coin that’s available for gamers to buy. Enjin’s biggest roadblock is in the form of another competitor: GameCredits, which has so far been the biggest gaming cryptocurrency that has managed to outpace it.
While GameCredits has mostly ignored the drama espoused from its competitor, Enjin’s continual growth in the market is only less than USD $20 million less than GameCredits so, if Gamecredits does not fight fire with fire, it could see its market capitalization overtaken by EnjiinCoin in the near future.
Ripple Stellar Lumens
Ripples has faced scrutiny from the crypto market as a whole due to its centralized nature and the perceived notion that it benefits bankers, which are two ideas that fundamentally go against the philosophies of cryptocurrency. Whilst XRP has kept its top position in the cryptocurrency market, and even overtook Bitcoin in market cap, it now faces a new problem with the emergence of its decentralized partner: Stellar (XLM).
Cryptocurrency purists support XLM over stellar as a more ethical approach to the processing of payments, and its friendliness towards IBM has caught the attention and interest from many speculators. Ripple has a market capitalization of USD $6 billion, which means that XLM still has a long way to go before it will be able to catch up to Ripple, but recent strides in the coin’s movement suggests that may be possible.
Bitcoincash Vs Litecoin
At one point in the not too distant past, the Bitcoin Cash supports were praying for what they call “the flippening,” which would have meant that Bitcoin Cash would’ve been valued higher than Bitcoin, and would regain its title as the true and original bitcoin. However, they were met by the presence of a new rival in the form of Litecoin to steal this dream away from Bitcoin Cash hopefuls.
In 2011, a Bitcoin fork known as Litecoin is much older than Bitcoin Cash, and has played a key role to Bitcoin’s value for many years. With the recent Litepay project and the encouragement of broader exposure as a payment method, Litecoin is in many ways ahead of Bitcoin Cash in terms of technology as well as adoption.
Bitcoin And Ethereum
Ethereum is yet another coin that has at many times tried to overtake Bitcoin as the most recognized coin. Ethereum’s market cap exceeded Bitcoin more than once, and the proponents of Ethereum are quick to suggest that the values that Ethereum was founded upon are not comparable to Bitcoin. Whilst Ethereum has proven its use in a number of ways, such as for the launch of decentralized applications, it still has not come close to eclipsing Bitcoin in terms of value or trade volume.