Bitcoin dominance drops below 40% for the first time in 6 months
During the seLast month, the price of bitcoin hovered below the $ 60,000 range and digital currency advocates are wondering where the market is heading next. At the time of writing, the crypto economy is valued at $ 2.81 trillion and bitcoin market dominance has fallen below the 40% region for several days now. >
Bitcoin dominance drops to 39.7%, while Ethereum Dominance Commands 19%
The price of bitcoin (BTC) hit $ 69,000 on November 10 and six days later on November 16, price fell below the $ 60,000 area and has not returned above that region since then. Today, according to cryptocurrency market aggregators, around 11,117 coins are traded on 525 cryptocurrency exchanges. The value of all over 11,000 crypto coinsexisting is approximately $ 2.81 trillion and its value has increased 3.9% in the past 24 hours.
Bitcoin ( BTC ) and ethereum ( ETH ) levels dominance on Thursday, November 25, 2021 at 12:00 p.m. EST.
Bitcoin (BTC) has an aggregate market cap of around $ 1.1 trillion and as of Thursday, November 25 BTC dominance is 39.7%. BTC has not been so weak since mid-May 2021 , or about six months ago. The last time it was below 40% before the mid-May drop was three years ago, June 17, 2018. Statistics from Coingecko.com indicate that the second crypto asset , ethereum (ETH) , holds about 19% of the market dominance on Thursday. Ether has a market valuation of around $ 525 billion at the time of writing.
While ethereum (ETH) has a significant share of dominance, a large number of other crypto assets in the top 20 positions also increased in value and increased their own levels of dominance. Binance coin (BNB) orders 4.02% of the $ 2.81 trillion crypto economy and the stablecoin tether (USDT) captures 2.74%. Solana (SOL) has increased in value a lot this year and currently SOL commands 2.43% of the overall value of the crypto economy. Cardano (ADA) is another which contains more than 2% like The stock market valuation of ADA Thursday is 2.13% of the crypto economy.
11,116 crypto assets order 1.71 trillion dDollars in Fiat value
Only five other crypto assets control more than 1% of the fiat value of the crypto economy and six coins have more than 0.5% of the value of 2.81 trillion dollars. dollars. Interestingly, bitcoin (BTC) dominance above the 60% range for two months this year, but BTC dominance fell below 60% at the end of February. Another interesting fact is that BTC dominance has maintained above the 80% region for its entire lifetime (minus a few brief instances) until the end of February 2017 .
BTC 's dominance It never returned above the 80% region but reached 70% on January 3, 2021, the 12th anniversary of the network. Bitcoin has a lot more competition than at the beginning, because before 2013 it was not There were only a few hundred competitors. At the time BTC fell below the 80% dominance range in 2017, there were a few thousand alternative digital assets. , BTC holds at $ 1.1 trillion in fiat value while 11,116 crypto assets hold $ 1.71 trillion in fiat value.
Tags in this story ada , BCH , Bitcoin (BTC) , bitcoin dominance , bnb , BTC , Dominance BTC , Cryptocurrencies , dogecoin , ETH , Dominance ETH , Dominance Ether , Ethereum , Ethereum (ETH) , SOL , Solana , USDT , XRP
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