It is apparent that the cryptocurrency market is expanding by the day. The digital currency, which is now at $31.6 billion market value has caught the attention of hundreds of financial professionals. This is perhaps the reason why Bloomberg Terminal has added another three crypto-currencies; Ripple, Ethereum, and Litecoin to its terminal service.
This comes at a time when Ripple is still pushing to take the third position in the market of Cryptocurrencies having surged 89 percent. The currency is in stiff competition with Bitcoin, which all along has been soaring and attracting more mainstream investors.
Cryptocurrencies have become the hottest inclusions
Digital currencies have been around for some time now and as a fringe asset. However, in a span of twelve months, they have become a hot inclusion, particularly among brokerages and exchanges. The inclusion is expected to grow further with the addition of the new leading altcoins. Apparently, the said leading altcoins can be used retail and institutional investors.
Nonetheless, Bitcoin remains the center of interest given that it has maintained the largest cap cryptocurrency of close to $300 billion. However, Litecoin, which is built as a quicker and a more efficient clone of Bitcoin, is expected to take even a better position. On the other hand, Ethereum is also gaining quick popularity; thanks to the fact that it is a versatile type of software.
But it seems Bloomberg Terminal may add even more cryptos to its offering
Apparently, bitcoin dominance index has decreased. According to many analysts, this has been caused by the migration of users from bitcoin to alternative Cryptocurrencies. In any case, more users have begun utilizing the alternative currencies in processing small transactions. Meanwhile, bitcoin has maintained its expensive status and it is currently trading at $16,500.
The rising interest in the alt-currencies has created massive speculations on the addition of another set of cryptos by Bloomberg Terminal. This is because the market cap other cryptos continue to rise in the wake of every sunrise. It is obvious that the Luxembourg-based exchange is one of several platforms seeking to make life easy for digital currency users.