This week, Bitcoin's market dominance among the market capitalization of all 12,046 existing crypto assets was above 38%, while Ethereum's overall valuation has a dominance of 19%. A report released on Monday shows that altcoins' market share has tripled since 2014, from 21% in 2014 to 62% today. Report Says Tide Turning, Altcoins “Gain Ground on Bitcoin” A review report published by tradingplatforms.com and author Edith Reads shows that altcoins have increased in value over the past seven years. The author's report explains that "the tide is turning" and altcoins are "gaining ground" on BTC since...
This week, Bitcoin's market dominance among the market capitalization of all 12,046 existing crypto assets was above 38%, while Ethereum's overall valuation has a dominance of 19%. A report released on Monday shows that altcoins' market share has tripled since 2014, from 21% in 2014 to 62% today.
A Test report published by tradingplatforms.com and author Edith Reads shows that altcoins have increased in value over the past seven years. Author’s report explains that “the tide is turning” and altcoins are “gaining ground” BTC as their popularity continues to rise.” It is known that since the introduction of Bitcoin BTC ’s market dominance among all other existing crypto assets was over 80% as of February 2017 February 26, 2017, BTC had 86% market dominance and has never returned above the 80% range since that day.
“Altcoin market share has been on an upward trend since 2014,” explains the author of tradingplatforms.com. Reads notes that as of December 9, 2021, altcoins accounted for 62% of the market share. "The figure represents a tripling of their dominance over the last seven years. They have tripled from a market share of 21 percent to the current 62 percent," the Reads study adds.
The report continues by sharing the growth of the altcoin space and the growing interest in altcoins. “The growth in [the] market dominance of altcoins is indicative of a rethinking of crypto assets,” says Reads. “Many see them as alternatives to BTC. As the crypto space continues to evolve, BTC “’s dominance will come under even greater pressure,” notes the researcher from tradingplatforms.com.
The author claims that market share dominance is a significant factor and BTC The market share is declining. “In December 2014 [ BTC 's] market capitalization was 78 percent," the study highlights. "But this position has continued to deteriorate and stands at 38 percent when the study is published." Read further expressed:
In most cases, higher market dominance leads to higher market capitalization. Market capitalization is a crucial factor in crypto rankings. Large caps indicate safe investment options as such cryptos are usually less volatile. Essentially, it is an indication of how stable the asset is.
Today, there are more than 12,000 crypto assets that have a recorded price value, according to coingecko.com Metrics. While Ethereum ( ETH ) has 19.1% of the $2.54 trillion, many other coins also have a decent share of the overall crypto economy. BNB has a market dominance of 3.64% and the stablecoin Tether ( USDT ) has around 3.06%. Solana (SOL), the fifth-largest crypto market cap today, captures 2.45% of the $2.54 trillion and Cardano ( ADA ) controls 1.97% of the crypto economy.
The tradingplatforms.com study insists that there are some advantages over altcoins BTC including “winning in the [decentralized finance] sector.” Liest says that in terms of scaling, “altcoins are built on better blockchain technology.” She says that BTC also deals with many people who care about the environment, and Reads mentioned that “Elon Musk has been a vocal critic.”
What do you think of tradingplatforms.com's study and Edith Reads' opinions on crypto market share dominance today? Let us know your thoughts on this topic in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons
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