all about cryptop referances
Over the past 100 days or about three months, bitcoin’s market dominance among 21,958 different cryptoassets worth about $850 billion has been below 40%. Bitcoin dominance has been below 40% since August 27, 2022, with a brief rise above the 40% area 52 days ago on October 15.
Bitcoin’s market cap has been above the $325 billion region since November 29, 2022. At the time of writing, bitcoin’s (BTC) total market cap is around $328 billion, representing around 38.3% of the crypto economy’s entire market cap of $856,947,917,107.
The second leading crypto asset, ethereum (ETH), on the other hand, has a market capitalization today of around $155.38 billion or 18.1% of the total of $856 billion. In the early days, BTC’s market dominance was above the 90% region from when it first gained value in 2010, right up until the second week of November 2014.
Crypto market dominance, among thousands of digital asset market values, refers to the relative size of the coin’s capitalization compared to the total market value of the entire crypto economy. After mid-Nov. In 2014, BTC’s market dominance dipped below the 90% region, but stayed above the 80% range right up until the first week of March 2017.
Essentially, during the early days, BTC’s market dominance was 90% for 61 months, and after November 2014, it was over 80% for 33 months. However, there were a few instances in January 2015, March 2016, May 2016 and September 2016 where BTC’s market dominance fell below the 80% region.
Bitcoin dominance has been lower than 80% for 68 months to date, and it has struggled to hold the 40% range in recent times. On May 15, 2021, and until August 27, 2022, BTC’s market superiority in terms of capitalization had been above the 40% interval which was around 15 months.
Today, there have been more than three solid months of BTC dominance below the 40% range, and dominance has not been this low since May 2018. From a logarithmic perspective, ethereum’s (ETH) market dominance, among all other digital assets, has proven . a significant increase since January 2020.
ETH dominance increased by 130.86% since January 2020, while BTC dominance gradually declined by 41.96% in that time frame. From January 2020 to today or roughly 35 months, tethers (USDT) market dominance jumped 285%, compared to the combined value of more than 20,000 listed cryptoassets.
BNB saw its market dominance grow by 440% over the past 35 months and usd coins (USDC) dominance increased by 2500%. Like bitcoin (BTC), xrps (XRP) market supremacy has declined over the past 35 months, falling 47% since January 2020.
Of the top ten digital assets in terms of market valuations, BTC’s and XRP’s dominance levels have seen the worst declines. Meme token dogecoin’s (DOGE) dominance level, on the other hand, has jumped 1100% higher over the past 35 months.
There are many people who do not place much value in market cap and dominance data when it comes to digital currencies. For example, a bitcoin maximalist would say that BTC’s market cap is all that matters, and others might say that a meme coin like DOGE shouldn’t be compared to blockchains that weren’t meant to be a joke.
However, many crypto followers believe that market dominance levels provide meaningful data. Bitcoin and ethereum, for example, can be perceived relative to their competitors as having high levels of market superiority, which can have a significant influence on the market. More often than not, when BTC’s and ETH’s prices go up or down, alternative cryptoassets follow the dominant crypto’s market patterns.
What do you think about bitcoin’s dominance levels among thousands of market caps? Let us know what you think about this topic in the comments section below.
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