Data shows that mineable cryptocurrencies are more valuable than non-mineable ones

There are currently 2,121 digital currencies tracked in the market, with a net asset value of approximately $140 billion. Statistics at the end of the first quarter of 2019 show that mineable digital assets are the most valuable cryptocurrencies on the market today, with the top 8 mineable currencies accounting for 68% of the entire crypto economy.

Mineable cryptocurrencies account for nearly 70% of the market share

There are many cryptocurrencies, but only a few have significant value and community supporters. Currently, only 4 of the top 10 cryptocurrencies by market value can be mined, and the rest, such as Ripple's XRP, Stellar's XLM, and some other initial tokens and some tokens using the PoS mechanism, are not mineable. The total market value of the top 4 mineable cryptocurrencies (BTC, ETH, LTC, BCH) is about 91.7 billion US dollars, accounting for 65.5% of the entire crypto market, and the total market value of the remaining 6 is about 24 billion US dollars, accounting for 17% of the entire crypto market.

The top ten cryptocurrencies by market capitalization, highlighted are mineable ones

Additionally, there are 8 mineable cryptocurrencies in the top 20 crypto market cap, namely BTC, ETH, LTC, BCH, BSV, XMR, DASH, and ETC, and these mineable cryptocurrencies are worth $3.32 billion, accounting for 2.2% of the entire crypto economy. These 8 cryptocurrencies combined have a dominance of 67.7%, which is worth more than 2,100 other tokens. These mineable super-powerful tokens can all be mined by anyone with a standard GPU and ASIC machine. Tokens like XMR and ETH have some community members who believe in some form of ASIC resistance. When LTC was originally launched, it was considered ASIC-resistant, but this goal failed almost immediately.

Some mining pools involve multiple cryptocurrencies

An interesting fact is that four of the top ten mineable coins all have the same mining pools to mine them. BTC and BCH have a large overlap of available mining pools processing coins on both networks, including BTC.com, Antpool, Bitcoin.com, and Viabtc, among others. Similarly, the LTC network also has some overlap with the BTC and BCH networks, including F2pool, Antpool, Poolin, and Viabtc, among others.

There is a lot of overlap between BTC and BCH mining pools

It is worth noting that in the three networks of BTC, BCH and LTC, these mining pools have a major share of hashrate in each network. ETH has very few overlapping mining pools because F2pool occupies the vast majority of the share. At the end of the first quarter of this year, BTC and BCH also had a considerable number of unknown miners. Currently, unknown miners processing BCH account for about 19.4% of the network hashrate, while unknown miners on the BTC chain account for 23.9% of the current hashrate.

Except for F2pool, there is almost no overlap between ETH and LTC mining pools

There are a variety of cryptocurrencies out there, with many teams criticizing mineable cryptocurrencies for “wasting” resources. This is a huge discussion point for some pre-mined tokens that abandon the PoW algorithm, but the data clearly shows that mineable cryptocurrencies are worth nearly 2/3 more than non-mineable cryptocurrencies. We can also see that a large portion of mining pools have diversified their mining, which shows that they have confidence in these mineable cryptocurrencies.