Bitcoin over the last 100 days or about 3 months of 21,958 different crypto assets worth about $850 billion in market dominance below 40%. Bitcoin’s dominance has been below 40% since August 27, 2022, but 52 days ago he had a moment above the 40% range on October 15th.
35 months
Bitcoin market cap exceeds $325 billion since November 29, 2022. At the time of writing, the overall market valuation of Bitcoin (BTC) is around $328 billion. It accounts for approximately 38.3% of the $856,947,917,107 market capitalization of the entire crypto economy.
Meanwhile, the second largest crypto asset, Ethereum (ETH), has a current market capitalization of approximately $155.38 billion, or 18.1% of the total $856 billion. In its early days,BTC‘s market dominance was over 90% all the way through the second week of November 2014, from its first rally in 2010.
Among thousands of digital asset market caps, crypto market dominance refers to the relative size of a coin’s market cap compared to the overall market cap of the entire crypto economy. Since mid-November 2014,BTC‘s market dominance has fallen below the 90% range, but remained above the 80% range all the way through the first week of March 2017.
Basically, the market dominance of BTCin the early days was 90% for 61 months, and over 80% for 33 months after November 2014. was However, in January 2015, March 2016, May 2016 and September 2016, there were a few brief instances ofBTCmarket power falling below the 80% region. .
Bitcoin’s dominance has dipped below 80% in the last 68 months, and has recently struggled to maintain the 40% range. From May 15, 2021 to August 27, 2022, the market dominance of BTCin market capitalization was above the 40% range, about 15 months.
Ethereum, Tether, and Dogecoin Market Dominance Levels Rise
BTC Domination Below the 40% Range Today, Domination Percentage Drops in 2018 It hasn’t been this low since May 2015. From a logarithmic perspective, Ethereum (ETH) market dominance has shown a significant rise since January 2020 among all other digital assets.
ETH dominance increased by 130.86% from Jan 2020, whileBTC dominance gradually declined by 41.96% over that timeframe Did. From January 2020 to today, or in about 35 months, Tether’s (USDT) market share surged 285% compared to the combined value of over 20,000 listed crypto assets Did.
BNB saw a 440% increase in market power over the last 35 months, and a 2,500% jump in US Dollar Coin (USDC) dominance. Similar to Bitcoin (BTC), the market dominance of xrp (XRP) has declined over the past 35 months, dropping 47% since January 2020.
Of the top 10 digital assets in market valuation,BTCand XRPdominance levels show the worst drop. Meanwhile, the dominance level of the meme token Dogecoin (DOGE) has increased by 1,100% in the last 35 months.
When it comes to digital currencies, there are many who place little value on market capitalization or dominance data. For example, Bitcoin maximalists will sayBTCmarket cap is all-important, and others will compare meme coins like DOGE to blockchains that are no joke. You might say you shouldn’t.
However, many cryptocurrency proponents believe that market dominance levels provide meaningful data. For example, Bitcoin and Ethereum can be seen as having a high market advantage over their competitors, which can have a significant impact on the market. When the price of ETHrises and falls, alternative crypto assets follow dominant crypto market patterns.
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