New Website Puts Altcoins in the Shoes of Bitcoin & Shows Their Real Price

New Website Puts Altcoins in the Shoes of Bitcoin & Shows Their Real Price

There are lots of altcoins on the market, which not long ago were trading at less than $1 and recently have started surging up at an unprecedented rate. This has led to the situation whereby some altcoins’ enthusiasts claim these altcoins to overcome the value of the BTC one day.

But what these investors forget is the digital deficiency. It means that the abundant coins are understandably low-cost in comparison to those, which are confined to supply, for example, bitcoin. But the case is to be improved thanks to a new online tool called Bitcoin Price Equivalence.

Our top trading bots

The Real Price of Altcoins

Given the growing embrace of altcoins, in 2017 the dominance index of bitcoin dropped by around 52%. In its turn, Ripple demonstrated an impressive 330-fold growth in value. Meanwhile, such promising crypto coins as Litecoin and Ethereum increased by minimum 50-fold in the space of the past year. Litecoin, by the way, grew by 7,000% in 2017, according to The Wall Street Journal.

Such a growth of altcoins has stirred arguments over their true price. Last week a tweet called “Removing Unit Bias” questioned this issue, asking users whether they would still purchase cheap coins if their supply cap was the same as bitcoin’s one. The tweet also included a screenshot with listed famous cryptos and their price. However, that price was based on the assumption that each of these altcoins was limited by the allowed number of all coins for existence – 21 million.

Eric Wall, the columnist for the News.Bitcoin.com, commented this issue on his blog, explaining:

“Of course, the unit price of a coin is a totally senseless basis for making investment choices on. Any cryptocurrency–even Bitcoin–could have been a sub-cent item, if Satoshi chose the final cap to be 21 quadrillions instead of 21 million.”

Today, everybody may learn about how much altcoins truly worth with the help of the website Bitcoin Price Equivalence. It presents prices for all altcoins, purging unit offset, based on their individual circulating supply, and adjusting them in accordance with the BTC’s 21-million-coin limit. Therefore, one can see that some altcoins indeed are costlier than one can expect.

“Equalizing” Rivals

Imagine, all altcoins had the same supply as the “Big Daddy”. Then their prices would look quite pretty different, and that’s what the new website shows. In this case, one Ripple would cost approximately $11,400, as Ethereum would be around $7,800, whereas Litecoin would trade at $788 and Stellar – at about $3,200. Currently, Ripple costs just $1.92, Ethereum is worth $1,351, Litecoin’s price is $242 as Stellar is traded at merely $0.52, according to the CoinMarketCap.

Now all those who are wishing to pile into altcoins are at the crossroads: would they purchase those coins if they knew the price given the BPE? Stellar may seem quite appealing at the price of just sub-$1, but it is interesting to know who would really pay $3,200 for it. Same for Ripple.

The good news is that it is easy to see and distinguish the underestimated and overrated altcoins now. Moreover, it is also possible to find out which “cheap” coins still have room for growth thanks to the BPE. Now it is all up to investors’ intuition.

Charts Sources: bpeindex.com; coinmarketcap.com

Top Israeli bank to accept BTC and ETH trading through Paxos' collaboration
Leumi Bank, one of the largest lenders in Israel, reportedly started to accept Bitcoin (BTC) and Ether (ETH) trading.According to a Thursday report by Reuters,...
The Sandbox Metaverse hits 2M users, begins K-Pop partnership
The Sandbox metaverse game owned by NFT investment giant Animoca Brands has surpassed 2 million registered users amid its play-to-earn season 2 alpha launch....
Thailand scraps 15% crypto capital gains tax following public backlash
Thailand has decided to suspend the implementation of its 15% cryptocurrency capital gains tax for now. The proposal, which was presented earlier this year,...
0.01% of Bitcoin holders control 27% of all circulating coins: Study
Less than 1% of the biggest Bitcoin (BTC) hodlers allegedly control more than a quarter of all BTC in circulation, according to a new study.The National...
DEXs growing faster than CEXs but Binance still sees 171M visitors in a month
A new Chainalysis report shows that the number of decentralized exchanges (DEXs) is growing faster than all other types of crypto exchanges. But Similar...
Cointelegraph Consulting: How Avalanche is reimagining DeFi
It’s not the first time that the native token of the Avalanche blockchain has encountered wild fluctuations. In February, AVAX shot as high as $60 only...
Latest DeFi hack targeting BSC sees $12.7M in Bitcoin stolen from pNetwork
Cross-chain DeFi platform pNetwork has become the latest protocol to be targeted by hackers on Binance Smart Chain, reporting a loss of roughly $12.7 million...
Axe reveals limited run of Dogecoin-themed body spray
Popular male grooming product manufacturer, Axe. is set to launch a limited run of Dogecoin (DOGE)-themed body spray dubbed “Dogecan.”Axe’s Dogecans will...
South China Morning Post to tokenize 118-year-old archive with NFTs
Veteran Hong Kong-based newspaper South China Morning Post (SCMP) is creating a series of NFTs using a new token standard called “ARTIFACT,” designed to...
$3.6B in Bitcoin vanishes in 'hack' along with owners of South African crypto platform
Around 69,000 Bitcoin has vanished from a South African investment platform along with two brothers who owned the crypto firm.Although the facts are yet...
The NFT bubble may have popped, but the sector is still primed for expansion
Nonfungible tokens (NFTs) took the world by storm in March and April of this year with an onslaught of daily headlines about record-breaking sales and big-name...
VCs back Balancer with $24.25M investment
The capital raise was led by Blockchain Capital, Fintech Collective, LongHash Ventures, Fenbushi Capital, Continue Capital and Kain Warwick, the founder...
Voyager Digital sees 16X increase in quarterly revenue, first operating profit
Crypto asset trading firm Voyager Digital has announced financial results for the first quarter of 2021, and they are impressive.The retail crypto trading...
Hotbit crypto exchange shuts down for maintenance after attempted hack
Cryptocurrency exchange platform Hotbit has shut down all of its services after an attempted cyberattack on Thursday.“Hotbit just suffered a serious cyber-attack...
Price analysis 3/29: BTC, ETH, BNB, ADA, DOT, XRP, UNI, THETA, LTC, LINK
On Monday Visa announced that it had launched a pilot program with Crypto.com to enable its partners to settle fiat transactions by sending USD Coin (USDC)...