(Newswire.net — August 25, 2014) 61 Connaught Road, 61 Connaught Road — BitsharesX Poised To Overtake Litecoin For The #2 Position In The Crypto Currency World.
What has been a record shattering month for BitSharesX, the world’s newest decentralized peer-to-peer exchange, shows no signs of slowing. The market cap of BitSharesX rocketed from #7 to #3 in less than two weeks. (source: coinmarketcap.com).
BitSharesX was introduced a month ago as an alternative to standard crypto exchanges. It’s a fully decentralized “personal vault” that allows users to trade various assets called “bitAssets.” Following closely the value of real world currencies and commodities like the dollar (bitUSD) and gold (bitGLD), BitAssets function as crypto-derivatives.
Additionally, the open-source software supports user issued assets, such as shares of decentralized autonomous companies, known as DAC’s. Some liken it to a “bank” combined with a stock, commodities, and currency exchange. BitSharesX (BTSX), can be purchased on several exchanges such as BTER and BTC38. As transactions take place in the exchange, the profits go to the BTSX shareholders.
Today the 24 hour volume of BTSX shares passed Litecoin, the reigning prince to Bitcoin’s king. If this volume holds, it will stand as the second highest volume of any crypto currency or crypto equity, outside of Bitcoin. Some are speculating it will become the next billion dollar crypto “company” or more accurately, DAC.
BitSharesX appears it may soon overtake Litecoin not only in overall daily volume as it has today, but in total market cap. If so, BitSharesX will be the first to break past the long held position. At the time of this writing, BTSX would need to surpass $.09 cents per share to take the #2 spot.
BitShares has been boldly predicting such a move since July when BitSharesX went live. It’s certainly on the industry’s radar now and time will tell if they meet the claims they made last month to be #2 in the world. Information for BitSharesX can be found at www.bitshares-x.info and for BitShares at www.bitshares.org
About BitsharesX
BitsharesX is the world’s most advanced crypto-currency and crypto-equity exchange. It’s based on the same technology as Bitcoin but features multiple assets all under one roof.