Bitcoin Dominance Sinks to Lowest Level in 3 Years as Ethereum, Numerous Comp...
Bitcoin dominance has dropped to the lowest level in just over three and a half years since June 3, 2018, at 37%. Last year, at the end of March, bitcoin dominance hovered just above the 60% zone but since then, numerous digital asset market caps have swelled in value and gathered prominence in the market rankings along the way. Bitcoin Dominance Dips Below 38% The crypto economy currently has roughly 12,247 crypto assets traded across 542 exchanges worldwide. Crypto markets have shed more than 7% over the last 24 hours, dropping to a low of $2.16 trillion by 8:00 a.m. (EST). While people....
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Altcoins have risen to a three-year dominance high after tagging a record combined capitalization of nearly $1.5 trillion last week. While Bitcoin tumbles in response to Elon Musk’s Twitter account yet again, altcoin dominance has surged to its highest level in roughly three years.As of this writing, Bitcoin represents 40.3% of the combined crypto asset capitalization — the lowest it has been since June 2018, according to CoinMarketCap.Bitcoin hit a market dominance low of 33% in January 2018 when it was cooling from its previous peak while the altcoins were just hitting theirs. It is....
Bitcoin price was rejected from above $55,000 and is now back to sinking lower. Meanwhile, altcoins like Ethereum continue to climb complete unaffected by the leading cryptocurrency by market cap. The recent divergence between the top dog and the rest of altcoins, has resulted in Bitcoin dominance taking a nosedive to levels not seen since […]
The $3 billion USDC influx puts the total supply of the stablecoin at around $14,4 billion, reaching over a quarter of Tether's market cap. More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop. New USD Coins are minted whenever a customer exchanges their U.S dollars for the stablecoin, and Friday’s influx amounted to over 26% of its market cap at the time. The sudden arrival of $3 billion worth of USDC into the cryptocurrency market coincides with a surging altcoin market, evidenced....
Data shows the Bitcoin trading volume has dropped to its lowest level in 14 months, signaling that FOMO around the crypto may be no more. Bitcoin Trading Volume Sinks To Lows Not Seen Since December 2020 As per the latest weekly report from Arcane Research, the BTC trading volume has continued its decline this week, […]
BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000....