As bitcoin prices have risen in value over the past two weeks, bitcoin dominance levels have fallen to levels not seen since the June 6 low of 41%, and down to 39.97% on the 16th. May 2021. According to the leveraged crypto market price aggregator, bitcoin’s dominance is between 39.99% and 41.52%. Meanwhile, as bitcoin’s dominance has declined significantly, crypto-asset markets like Ethereum, Cardano, Binance Coin, and Tether have seen market dominance, in terms of overall valuation, steadily increase among the 10,000+ coins. existing today.
As Bitcoin Slides Up To 40%, Ethereum Rises To 20% Of Crypto Economy
It is well known that between the first bitcoin (BTC) prices were calculated by market capitalization, until February 2017, BTC had a market dominance of over 80% among all other parts, the majority of the time.
There was one case in 2014, where BTC fell to 77.9% in December and again in March 2016 to 76.42%. After the March 2016 drop, there were a few quick cases of dominance levels dropping below 80%, but nothing quite like what happened in February 2017.
February 19, 2017 BTCDomination’s levels slipped from 85.4% to a low of 37.84% in June 2017. From there, bitcoin has never managed to break the 80% grip since then and into September. 2019 it went above the 70% handle but for only a few. days.
March 1, 2021, BTC again tapped the 70% grip, but has since lost market dominance again. One of the biggest eating markets BTCthe cap is Ethereum (ETH), which holds a 19.4% market dominance according to Coingecko statistics.
Messari.io says ETHThe cap is 19.99% and coinmarketcap.com says the dominance level is 20.1%. Ethereum’s market valuation is around $ 460 billion on Sunday, September 5, 2021. In the past 24 hours, these three aggregators show BTCthe dominance of fluctuated between 39.99% and 41.52%.
Bitcoin’s market valuation at the time of writing on Sunday, September 5 stands at a total of around $ 940 billion. Other market caps registered massive gains, increasing their level of dominance, most notably the top ten digital currencies by market cap. Today, the top ten coins in the top ten list command 80% of the entire $ 2.36 trillion crypto market economy.
The top ten markets by market capitalization today include bitcoin (BTC), ethereum (ETH), gimbal (THERE ARE), piece of money (BNB), attached (USDT), XRP, solana (SOL), dogecoin (DOGE), polkadot (DOT) and USD coin (USDC).
While THERE ARE has over 4% of the entire crypto-economy in terms of market dominance, BNB at 3.71%. The stablecoin tie is approaching the three percentile mark with 2.98% of the overall crypto economy. XRP is a little lower than the tie at 2.21% and the new top ten solana (SOL) has 1.79%.
As for the top ten remaining coins and the rest of the cryptocurrency market caps below them ($ 472 billion) also contribute to the growing value of the global crypto economy of $ 2.36 trillion. . Cryptocurrencies such as fantom (FTM), iota (MIOTA), kusama (KSM), and iost (IOST) have all registered large double-digit gains in the past seven days.
What do you think of bitcoin’s dominance levels falling to new lows? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Coinmarketcap.com, buybitcoinworldwide.com/flippening/,
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