At the beginning of 2019, Bitcoin was trading around $ 3,500. The cryptocurrency, which has gone up to $ 13,300 as time goes by, is now attempting to recover a price, while the dominance of subcoins has reached record levels.
Bitcoin dominance is expected to reach 68.6% as of August 14, 2019, and soon reach 70 %. As a matter of fact, the beginning of an altcoin season is a dream for most cryptocurrency experts.
But three subcoins seem to exclude themselves from this generalization:
Binance Coin (BNB)
BNB and LTC at the summit
According to data from David Martin, BlockforceCap Investment Director, San Diego-based asset management company, there are two subcoins that outperform Bitcoin. These are Binance Coin (BNB) and Litecoin (LTC), the local token of the leading cryptocurrency exchange Binance.
Binani Co.’s (BNB), the building of the stock market helped to continually expand their services and gained more traction because it showed a strong rise against Bitcoin. Cryptocurrency increased by 364% in 2019.
Why is BNB’s performance so good?
The secret of Binance’s success stems from the quarterly incineration process.
The Binance Exchange burns 20% of the circulating BNBs. Thus, demand for BNB is increasing, supply is decreasing and this causes a price increase.
In addition to the Token incineration process, BNB has also become attractive due to the Binance Launchpad, where investors can access special token selection.
What brings LTC to the top?
The Litecoin was halving on 5 August, when the LTC price rose to $ 100. After Halving, the block award for miners was reduced to 12.5 LTC and the price fell below $ 100.
At the time of writing, the LTC is trading at $ 86. Compared to Litecoin, which recorded an increase of 214% in the first 8 months of 2019, Bitcoin increased 168% in the same period.
LINK completes the trio
Chainlink (LINK) also recorded an outstanding performance. LINK, which traded at $ 0.29 in early 2019, rose to $ 2.35 at the beginning of this month.
LINK also established high-profile partnerships with Google and Oracle. Therefore, LINK’s price performance is not predominantly based on the crypto market.
In 2019, subcoins, recovery, and new ATHs showed weak momentum towards a vision. Some of these subcoins were crypto coins that did not show any hope of recovery, such as XRP and XLM, which basically stagnated 2019. According to David, XRP remains 9th in the top 10 subcoins, while Stellar ranks last.
According to experts, while the dominance of Bitcoin continues to increase, these three subcoins have proved to be suitable options for investors wishing to expand their portfolios.