New SFOX Report: Don’t Call Ethereum an ‘Altcoin’ Anymore

Institutional cryptocurrency exchange San Francisco Open Exchange (SFOX) suggested that Ether (ETH) may not be an altcoin anymore, in its latest market report published on July 24.

In its post, SFOX suggested that “it may no longer be accurate to classify as an ‘altcoin.’” The reason why the exchange is suggesting that ETH may not fit into the altcoin category is that BTC’s current correlation with Ether is markedly higher than its correlations with other altcoins. The author of the post also notes:

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