Bitcoin News Today – September 16

  • Bitcoin (BTC) continues to establish its dominance as the crypto king
  • Altcoins Are Showing Higher Inflation Figures
  • Bitcoin (BTC) has the lowest inflation rate among cryptos

Bitcoin News Today – Bitcoin (BTC) is the most dominant digital currency in the industry. The digital currency contributes about 70 percent of the entire market cap. It has outperformed all the other cryptos in the market and claimed its title as the crypto king. The recent performance of altcoins has been very poor. In a recent tweet, Alex Kruger – an economic and digital currency analyst – pointed out the relationship between poor price performance and high inflation figures for certain altcoins.

Altcoins Are Showing Higher Inflation Figures

The tweet of Kruger was based on data released on ViewBase – a platform where you can find information on coin dumps. Whether by fluctuating or fixed schedules, altcoins such as XRP (XRP) and Zcash (ZEC) are showing significantly higher inflation figures. For instance, the annualized inflation rate of Zcash (ZEC) is currently more than 35 percent.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$8,170.84
-2.06%

Bitcoin News Today – Over 7,000 ZEC coins are minted every day. This figure results to about 0.098 percent attenuation of the circulating supply. A few months ago, Zcash discovered an inflation bug. This bug has the capacity to create an infinite number of ZEC tokens.

When it comes to fixed inflation, Ripple releases one billion XRP tokens every three months. The annualized inflation of XRP is about 30 percent. According to a previous report by Smartereum, some XRP enthusiasts have shown their disapproval with the constant release of XRP tokens in the market by Ripple. A few days ago, a major move was even noticed on the network. Ripple sent 100 million XRP worth about $26 million to Jed McCaleb – former Chief Technology Officer of Ripple. This move has sparked fears of more sell-offs.

Bitcoin (BTC) Proves It Is the Crypto Kings with Inflation Rate of Less than 4 Percent

Bitcoin (BTC) has proven to be quite different from the rest of the coins in the market. The situation of the world’s largest digital currency by market cap is different as the inflation rate of the digital currency is just 3.97 percent. After Bitcoin (BTC) halving next year, BTC inflation rate will reduce by 50 percent. This would bring the inflation rate of Bitcoin (BTC) lower than the present Federal Reserve interest rate.

Compared to the lean inflation rate of Bitcoin, altcoins such as XRP (XRP) and Zcash (ZEC) seem like penny stocks whose value is always plunging lower. The price of Bitcoin (BTC) is up by more than 170 percent since the beginning of this year. Meanwhile, XRP and Zcash (ZEC) have lost about 25 percent of their value so far.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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