The cryptocurrency market in April 2017 is witnessing a three-way battle for altcoin supremacy that could reshape the hierarchy of digital assets for years to come. Dash, Litecoin, and Monero — each representing a different philosophy of what a cryptocurrency should be — are posting impressive gains while Bitcoin consolidates above $1,200 following Japan’s landmark decision to legalize the digital currency as a payment method.
The Contenders
Three altcoins have emerged as the strongest challengers to Bitcoin’s throne in April 2017, each offering a fundamentally different value proposition to investors and users alike.
Dash is leading the charge with a market capitalization of $545 million, narrowly edging out Litecoin for the number four spot on CoinMarketCap. Trading at $75.34, Dash has posted a 16.26% gain over the past seven days, driven primarily by its ambitious expansion into cash-payment networks and merchant adoption. The cryptocurrency’s InstantSend and PrivateSend features give it a unique positioning as both a fast payment rail and an anonymity tool.
Litecoin, the silver to Bitcoin’s gold, is trading at $10.71 with a market cap of $542 million. Charlie Lee’s creation has surged 23.99% in the past week, making it the best performer among the top five cryptocurrencies by market capitalization. Litecoin’s faster block times and lower transaction fees compared to Bitcoin continue to attract users looking for practical payment solutions.
Monero, the privacy-focused cryptocurrency, rounds out the trio at $20.46 with a $292 million market cap. While its weekly gains are more modest, Monero’s Ring Signature technology and stealth addresses make it the gold standard for anonymous transactions, a feature set that neither Dash nor Litecoin can match in its purest form.
Tech Stack Showdown
Under the hood, these three cryptocurrencies represent fundamentally different approaches to blockchain technology. Dash operates on a two-tier network consisting of miners and masternodes, with the latter providing the infrastructure for advanced features like InstantSend and the decentralized governance system. Running a Dash masternode requires a collateral of 1,000 DASH, approximately $75,000 at current prices, which creates a built-in economic incentive for network participants to act honestly.
Litecoin remains technically closest to Bitcoin, using a modified version of Bitcoin’s codebase with a Scrypt-based proof-of-work algorithm instead of SHA-256. The practical impact is significant: Litecoin generates blocks every 2.5 minutes compared to Bitcoin’s 10 minutes, enabling faster transaction confirmations. The upcoming Segregated Witness activation on Litecoin could further enhance its capabilities and serve as a testing ground for Bitcoin itself.
Monero takes the most radically different technical approach, using the CryptoNight proof-of-work algorithm designed to resist ASIC mining and keep the network decentralized among individual GPU and CPU miners. Its implementation of Ring Signatures, RingCT (Ring Confidential Transactions), and stealth addresses makes Monero transactions untraceable by default — a stark contrast to the transparent ledgers of Bitcoin, Litecoin, and even Dash’s optional PrivateSend.
Community and Ecosystem
Dash boasts the most structured community organization in cryptocurrency. Its decentralized governance by blockchain, or DGBB, allocates 10% of the block reward to a budget that funds development, marketing, and community initiatives. In April 2017, Dash is funding expansion into Venezuela, where the cryptocurrency is being promoted as an alternative to the collapsing bolivar, as well as integrations with payment processors across Asia.
Litecoin benefits from the charismatic leadership of creator Charlie Lee and a dedicated developer community that is closely aligned with Bitcoin’s Core development team. The close technical relationship between the two projects means that improvements to Litecoin often serve as a proving ground for Bitcoin upgrades. The Litecoin community has been particularly vocal in advocating for Segregated Witness activation.
Monero’s community is driven by a passionate group of privacy advocates and cypherpunks who view financial anonymity as a fundamental right. The development team operates with a high degree of transparency regarding technical decisions but maintains strict privacy standards for users. Monero has become the cryptocurrency of choice on darknet markets following the exit scams and law enforcement actions that have plagued Bitcoin-based marketplaces.
Adoption Metrics
Japan’s legalization of Bitcoin as a payment method on April 1, 2017, has sent shockwaves through the altcoin market. Consumer electronics retailer Bic Camera has already begun accepting Bitcoin payments, and the Japanese yen is now the second-most liquid Bitcoin trading pair globally. This regulatory clarity is creating a ripple effect that benefits altcoins as well, as Japanese exchanges list a growing number of digital assets.
Dash is actively pursuing merchant adoption through partnerships with payment processors and its own Dash Direct initiative. The cryptocurrency is accepted at over 4,000 merchants and counting, with a particular focus on regions with unstable fiat currencies. Litecoin is accepted at a growing number of online retailers and benefits from integrations with major payment platforms.
Monero’s adoption story is more nuanced. While it lacks the mainstream merchant acceptance of Dash or Litecoin, Monero dominates in privacy-sensitive use cases. Trading volumes on major exchanges have been increasing steadily, and the cryptocurrency is becoming a preferred store of value for users who prioritize financial confidentiality over merchant utility.
The Final Verdict
In April 2017, the altcoin market is experiencing a rare convergence of positive catalysts. Japan’s regulatory embrace, Russia’s pivot toward cryptocurrency regulation, and growing institutional interest are lifting the entire sector. Among the three contenders, Litecoin currently has the momentum with its near-24% weekly gain and the SegWit narrative, while Dash leads in market cap and governance innovation. Monero remains the niche play with the strongest technical moat.
For investors evaluating these three altcoins, the choice ultimately comes down to investment thesis. Litecoin offers the closest thing to a Bitcoin hedge with faster transactions and an active development community. Dash presents the most ambitious roadmap for becoming a mainstream payment currency. Monero is the purest bet on the enduring value of financial privacy in an increasingly transparent world.
What is clear is that the altcoin market in April 2017 is no longer an afterthought. With a combined market cap exceeding $1.3 billion among just these three cryptocurrencies, Dash, Litecoin, and Monero are proving that there is room for legitimate alternatives to Bitcoin in the evolving digital asset ecosystem.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before making investment decisions.
Dash at 545M market cap and people were calling it the bitcoin killer lol. That aged like milk. Monero was the only one with real staying power from this era.
Litecoin at $11.50 seems laughable now. Charlie Lee was pushing it hard on Twitter back then and most of us ignored him.
the dash instantsend pitch was so compelling in 2017. too bad their governance token model incentivized all the wrong things