Bitcoin: Rival cryptocurrencies quietly gaining ground on all-conquering market leader

Bitcoin continues to be the most prominent cryptocurrency on the market, its profile greatly raised by the surge in value it experienced over the Christmas period. That sudden increase saw its worth peak at $19,850 (£14,214) in mid-December before returning to a more stable norm around the $10,500 mark (£7,568), where it remains today. But the recent rise and rise of bitcoin and the excitement it has stirred among investors has overshadowed the quiet but steady growth of several of its key rivals. Ethereum's coin ether, for instance, has a market capitalisation of $76.5bn (£55bn) compared to bitcoin's $178bn (£128bn), according to CoinMarketCap. While still a long way behind, this is impressive given that the currency was only launched in 2015 and the fact that there are 98m ethers in circulation, compared to just 16.9m bitcoins.