Examining Why Cryptocurrencies You Can Mine are Much More Valuable Than Non-Mineable Assets
Even though there are many cryptocurrencies on the market, not all of them have value attributed to them. The most valuable are those that are minable and that have the most market capitalization. These include BTC< ETH, LTC, and BCH. Together, they have a market capitalization of approximately $91.7 billion, or 65.5 percent of the net worth of the crypto ecosystem. As for the rest, the ones that have been mined include Ripple XRP, Stellar XLM, and other coins that apply a proof-of-stake mechanism.
There are also eight cryptocurrencies within the top 20 that are mineable and that have high market capitalization. These include BSV, XMR, DASH, and ETC. Together, they are valued at $3.32 billion and they make up 66.6 percent. These cryptocurrencies can be mined with the traditional technology – GPU and ASIC machines. Of course, there are also those who are part of the XMR and ETH community that only will follow ASIC for mining purposes.
The top four minable coins in the top ten are also part of the same mining pools that process coins. Particularly BTC and BCH, whose pools tend to overlap and are part of the same organizations, like BTC.com, Bitcoin.com, Viabtc, and Antpool. As for LTC, it also slightly overlaps with BCH and BTC. Its pools overlap too.
The three mining pools have a large share of the hashrate on their networks. However, when it comes to ETH, it does not have a lot of overlap or hash power. Ultimately, when it comes to coins, there is a lot to choose from. For coins that are not mined yet, they do face criticism for the waste in resources that their mining will cause. The good news is that there are many mined cryptocurrencies already on the market and that is more valuable as well.