Bitcoin market dominance falls to three-year low of 40%

Bitcoin market dominance falls to three-year low of 40%

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....


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Bitcoin dominance falls under 40%

While Bitcoin critics claim this means that BTC is losing its first-mover competitive advantage, others are anticipating the “altcoin season” is just around the corner, or might even be already underway. Bitcoin’s market dominance has continued to fall, bottoming out below 40% this week. That’s very close to the all-time low of 36.7% in Jan 2018 according to data from Tradingview.Bitcoin (BTC) market dominance refers to the ratio between BTC’s market cap and the total crypto market cap.It's not the first time dominance has dipped in 2021. Back in May, Cointelegraph reported that BTC had....

Bullish Signal? Ethereum Market Dominance Sitting Above 20%

In the last five years, Ethereum has not only taken a significant market share from bitcoin, but it has consistently grown in the same time period. While bitcoin had maintained the majority of the market dominance for the longest time, it has not taken altcoins a long time to come for the majority share. In fact, this year, the market dominance of bitcoin feller 50%. As ethereum’s market dominance has grown, it is important to look at what this might mean for the digital asset and how it may play out in the future. Ethereum has no doubt had an incredible run this year but does growing....

Why Another Wave Up For Altcoins Is Probable According To BTC Dominance

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....

Bitcoin Crashes Below $30,000, Bear Market Or Bullish Setup?

Bitcoin has finally crashed below $30,000 for the first time in a month after the digital asset had recovered above this point following the crash to the $28,000 range in the last month. Market volatility levels have continued to remain low while the digital asset price continues to suffer. Market sentiments seem to remain in the extreme fear range as investors hold off putting more money into digital assets. Bitcoin continues to show bearish tendencies as, despite best efforts, bulls have not been able to drag the coin out of its three-month-long decline. Breaking the critical $30,000....

Bitcoin Dominance Down As Market Hits $2 Trillion, Altcoins Are Taking Over

Bitcoin market dominance continues to decline as the markets make their way back up the charts. The top cryptocurrency has seen its market share consistently dropping as investors get interested in altcoins. Over the five years since it has been in operation, Ethereum now has a bit under half the market dominance of the digital asset. This has translated to altcoins like Ethereum rallying despite what direction the price of bitcoin is headed. Now, once again, as is the same with all bull markets, the altcoins are breaking away from the influence of bitcoin. As the bull rally continues to....