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The prices of cryptocurrencies begin to cring a period of slow but regular earnings in the last 48 hours, the bitcoin leading the charge again and most altcoins are lagging behind in the recovery. In a recent article on the X platform, Popular Bitcoin maximalist And the CEO of January 3, Samson Mow, described the deceptive nature of the unitary bias among altcoins.
According to Mow, Ethereum at $ 9,200, XRP at $ 5,800 and Solana at $ 3,400 is practically impossible, given the current offer of these tokens.
Unit bias and market capitalization: the figures do not lie
Mow post on x Defy how investors perceive the value of altcoins like Ethereum, XRP and Solana. He proposed a reframing of Altcoin assessments by applying the Bitcoin supply model to them. Bitcoin was created with a possible circulating offer of 21 million units, including 19.85 million people currently in circulation.
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At the time of writing, a unit of 21 million bitcoins is Exchange about $ 88,000. This price could be too much for retail merchants. As such, the idea of having an entire XRP or Solana unit feels more accessible to newcomers And retail merchants in relation to the purchase of a Bitcoin fraction with the same capital.
To expose to what extent this state of mind can be misleading, Mow reinvents the assessments of the Altcoin by dividing their total stock markets by the supply ceiling of 21 million bitcoin. This essentially requires which unit of these assets would cost if they had the same supply shortage as Bitcoin. Based on current stock market capitalizations, Ethereum would be estimated at around $ 9,200, XRP at $ 5,800 and Solana at $ 3,400.
Given the current price of Ethereum, Solana and XRP, these figures are unrealistic and reveal the quantity of appeal of the Altcoin is driven by unit bias rather than by real value. In addition, this shows that Bitcoin has better fundamental principles and rarity in its dynamic of the offer.
Narrative of the domination of bitcoin becoming stronger
For mower Other Bitcoin maximalists, The disparity in the supply of bitcoin and that of popular altcoins is yet another reason why the domination of bitcoin is likely to strengthen in the long term. In particular, the entries in the Bitcoin Spot ETF and the growing recognition of traditional financial investors strengthen the case For the domination of Bitcoin in the future.
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In particular, MOW’s prospect is opposed to the prospects held by certain analysts who always anticipate an incoming Altcoin season. These analysts believe that the domination of Bitcoin, although currently seated at an annual summit of 63.5%, could be on the verge of reversal. A notable technical analysis even projected a net accident in dominance towards the 40% mark in the coming months.
At the time of writing this document, Bitcoin is negotiated at $ 88,530, up 1.3% in the last 24 hours. Ethereum is negotiated at $ 1,620, which represents a decrease of 1.5% over the same period. Solana is down 0.5% to $ 140 and XRP is negotiated at $ 2.09 after a drop of 1.63% in the last day.
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