First of all, I would thank my professor @imagen for delivering an informative lecture on different
aspects of Cryptocurrency market. I hope these lectures will enable us to generate productive
outcomes in future. Below is my homework task that I have been assigned, I hope it will be
informative for dear colleagues.
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Explain in your own words, the concept of Dominance in the world of cryptocurrencies
Dominance refers to supremacy of an asset in a market. Same it is in terms of cryptocurrency where dominance means the ascendancy of a currency over other currencies. As the world of crypto is progressing, there is a competition on daily basis or if I say every moment in which currencies compete one another to dominate in market. The more is the demand of currency, the more it is strengthened. Investors across the globe also play an important role to make a currency dominant in market. When flow of investments increase, the currency tends to grow up in the market. High interest rates also strengthen currencies because people are likely to invest more and this increases demand of that currency. Below we can see that Bitcoin is dominant in the market over all other currencies with a value of $49,142.61.
Screen taken from Coinmarketcap.com

There is an easy formula to find out dominance of a currency in a market.
It is:

Bitcoin Dominance

Bitcoin Dominance refers to the measure of how much Bitcoin market capital is occupied in total market capital. It indicates the latest trends and value of currency in the market. The more is the demand and interest rate of Bitcoin, the more it dominates in market. I would like to give here an example of how Elon Musk tweeted for Bitcoin and its value increased by leaps and bounds. In past couple of years, as investors have taken interest in BTC, its value has tended to rise up.
Bitcoin dominance tells that what is the trend of altcoins against BTC. If BTC dominates, altcoins lose their value and if BTC dominance decreases, altcoins gain value against BTC. Below we can see the % dominance of BTC in crypto market at 13:15 pm PST 5/15/2021.
Screen taken from tradingview.com

As you can see that Bitcoin Dominance is 40.89%. It means that if total market capital is 100%, then BTC has 40.89% market dominance over all other currencies. Bitcoin dominance has increased since investors have taken interest to invest in BTC. When more is the demand and limited is the supply, the value of currency shows an upward trend. An important aspect to know is that BTC dominance in market is inversely proportional to value of altcoins.

You can understand from this equation

Mention at least 2 times where the market had strong falls, mention several affected currencies.

When we discuss about cryptomarket, we cannot ignore this fact that it is very volatile and prices fluctuate every moment. Although billions of dollars are being invested but it is not stable every time. Crypto market has experienced strong falls in a couple of months and it may be due false news that have influenced investors to take out money or when international economy has faced any disruption.

Fall of Bitcoin on 28th February, 2021

Fall of Bitcoin on 28th February, 2021
From 21st February to 28th February, Bitcoin value fell from $58136.33 to $44.514.80. This is a very steep downfall in just a week. Below you can see the trend on 28th February 2021
Screen taken from CoinMarketCap.com

Fall of Bitcoin on 23rd April, 2021

From 14th April to 23rd April, Bitcoin value fell from $64,501.58 to $48084.55. It is also a steep downfall in just 9 days. Below you can see the trend on 23th February 2021

Screen taken from CoinMarketcap.com

Fall of Ethereum on 28th February, 2021

On the same date when market had shown a downward trend, many currencies were affected. Above I have demonstrated Bitcoin price fall, now I will show Ethereum price fall on 28rd February.

Screen taken from CoinMarketcap.com

The price of Ethereum fell from $1963.47 (21st February, 2021) to $1359.44 (28th February, 2021).

Fall of Binance BNB on 28th February, 2021

Binance BNB also experienced a decrease in value on 28th February. Its price fell at $205.25 from $301.38 on 21st February, 2021 as you can see below
Screen taken from CoinMarketcap.com

Many other cryptocurrencies were effected on this date. It includes Dogecoin, XRP, Polkadot and Tether.

What is the Altcoin Season?
As we can understand by the name Altcoin refers to Alternative Coins. When Bitcoin is a dominant currency in market, all other currencies are altcoins. They are also based on blockchains and allow peer-to-peer transactions. When Bitcoin had gained a limelight in Crypto market, altcoins were introduced to attract other investors.

Following are some altcoins

• Ethereum
• Ripple
• Binance BNB
• Dogecoin
• Tether
• Dash
• Monero

These altcoins provide a competition to Bitcoin and also have low transaction fees. Bitcoin has market dominance of 40.89% but still these coins appeal as a variety in cryptomarket.

Altcoin season arrives as Bitcoin loses its dominance.

Below you can see that as Bitcoin is losing its value this week, Ethereum is going up.

Screen taken from CoinMarketcap.com

Give a brief description of at least 2 altcoins that are in the TOP 50.

ETHEREUM

Ethereum stands at #2 in crypto market after Bitcoin.
It is a decentralized blockchain open-source platform with its own Ether cryptocurrency. In a white paper by Vitalik Buterin, Ethereum was first identified in 2013. In summer 2014, Buterin secured funding for the project along with other co-founders in an online public sale. The blockchain was formally unveiled on 30 July 2015. Major objective of Ethereum is to develop a global platform for decentralized applications which enables users worldwide to write and run censorship-proof, downtimes and fraud-resistant apps.
Current price of Ethereum is $3,888.74 USD with trading volume of $43,390,283,806. Circulating supply of Ethereum is 115,884,549 ETH coins. Following are the exchanges for Ethereum trading:

• Huobi
• Binance
• OKEx
• ZG.com
  Screen taken from CoinMarketcap.com

BINANCE COIN BNB

Binance Coin BNB was introduced in July, 2017 by Binance exchange which is one of the most known exchanges in the world. It has a max supply of 170, 532, 785 BNB coins and a circulating volume of 153, 432, 897 coins. Initially BNB coins were launched as ERC-20 tokens but soon Binance started its own blockchain and now BNB are issued from Binance. Current price of BNB coin is $586.29 with trade volume of $3, 390, 461, 263. Following are the exchanges for BNB coin trading:

• Binance
• FTX
• CoinTiger
• BitZ
• BiONE
  
  Screen taken from CoinMarketcap.com
  
  How can relevant news influence thse screenshots) (Example: SENSO announced a 70% token burn, in a week the price increased more than 100%)
  
  In this modern era of digital technology, news have a great influence on economy. Many business giants are a keen listener of daily news. Trading in cryptomarket usually encounter up or down trends, if any relevant news has arrived in market. Following are some examples:

1.As much as $365 billion wiped off cryptocurrency market after Tesla stops car purchase with Bitcoin

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Elon Musk tweeted on Wednesday, 12th May that Tesla will not accept digital currency for purchase of its vehicles. The reason of this non-acceptance was environmental concerns. After this, price of Bitcoin dropped by 17% and $365.85 billion were wiped from cryptomarket.
screen from coinmarketcap.com

As we can see in above screenshot, price of Bitcoin fell after Elon Musk tweet on Wednesday

2.Bitcoin tumbles below $50,000, other cryptos sink over Biden’s Tax Plans
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As Biden talked about his tax plans that he would double taxes on capital gains to 39.7% for people who earn more than $1 million. After this, price of Bitcoin fell to $47,555 since early march. Ether and XRP fell by 3.5% and 6.7%.

3.Crypto Markets, Apart from Dogecoin, Join US Stock Sell-off as Yellen Warns on rates
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As US Treasury Secretary, Janet Yellen warned of high interest rates to avoid economy from overheating. Soon after her statement, cryptocurrency market fell because of higher interest rate risks. Bitcoin price had a downward trend just below $55,000 on Tuesday while Ether had a downfall at $3,242 from $3500 on early Tuesday.

Describe one of the following Penny cryptocurrencies: Shiba Inu, Safeemon, or Eclipse

SHIBA INU

As mentioned by the penny cryptocurrencies are of much low value, so that is why they are names as penny cryptocurrencies. I will discuss Shiba Inu here and also tell some facts about it.
It is hilarious to know that Shiba Inu was introduced after a dog inspired people to buy tokens with dog image. It is also mentioned as ‘Dogecoin Killer’. It was introduced in August 2020. SHIB is also based on decentralized Ethereum blockchain, and currently a proof-of-work blockchain. Soon it will shift to proof-of-stake. Shiba Inu has grabbed the attention of dog lover artists from all over the globe to take part in ‘artistic Shiba movement’.
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Current price of Shiba Inu is $0.00001563 with a trade volume of $2,322,244,492. It is interesting to know that, it is a penny cryptocurrency so traders hold billions or trillions of them. It stands at #29 on CoinMarketCap ranking.
CONCLUSION
This lecture has made me to dive deeper into crypto concepts and explore markets that are highly prone to relevant news. From top, Bitcoin to penny cryptocurrency, Shiba Inu, it has been a learning experience throughout and I believe as days are passing, I am understanding theoretical as well practical skills of cryptomarket. I want to thank my professor @imagen for giving me such knowledge.

Cc:-
@imagen
@pelon53