Bitcoin began to lose crypto market share to other digital currencies, since a number of competitors appeared on the market like Ethereum, Litecoin and Ripple.While a number of new digital currencies witness a rapid growth of their value, Bitcoin has begun to lose market share. According to Quartz, Bitcoin made up 87% of the crypto market one year ago. Now, this rate is only 36%. Reason of this quick fall might be that other digital currencies are easier to use and they are safer for business.
Ethereum is used for smart contracts, while Ripple is touted as a new kind of payment system for banks.