As of this writing, bitcoin has a market dominance of 62.7% – representing more than 60% of the entire cryptocurrency markets for the first time since April 2017.
Bitcoin Continues to Reclaim Market Dominance
Bitcoin’s current total market capitalization is more than $126.5 billion USD – currently comprising approximately 62.7% of the $202 billion USD cryptocurrency markets.
At the beginning of 2017 bitcoin had a market dominance of approximately 87% percent, as bitcoin confidently ramped up to test the $1000 USD area for the first time since December 2013. Starting in March, many altcoin markets started to rally, with many leading altcoins making gains of over 1000% in a matter of just weeks. The ensuing altcoin bubble quickly gave birth to an initial coin offering bubble as well – both of which eroded bitcoin’s market dominance, which reached a historic low of just under 40% in June. Bitcoin quickly bounced back to hover around the 50% dominance area from mid-July until October. During October bitcoin’s market dominance steadily rose from 50% to 60%.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://news.bitcoin.com/bitcoin-regains-60-crypto-market-dominance-first-time-7-months/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @channelcom! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit