+1.47% Bitcoin (BTC) 16086.16 EUR
+4.06% Ethereum (ETH) 1191.13 EUR
+3.99% Litecoin (LTC) 74.86 EUR
+0.83% B-Cash (BCH) 108.61 EUR
+2.64% Ethereum (ETH) 0.0747703 BTC
+2.66% Litecoin (LTC) 0.00470256 BTC
-0.58% B-Cash (BCH) 0.0068276 BTC
+1.37% Bitcoin (BTC) 16612.884 USDC
+0.09% USD Coin (USDC) 0.96 EUR
+1.34% Bitcoin (BTC) 16621.873 USDT
+0.10% Tether (USDT) 0.97 EUR
+1.02% Chainlink (LINK) 7.15 EUR
-0.56% Chainlink (LINK) 0.00044862 BTC
+7.22% Dogecoin (DOGE) 0.09 EUR
+5.91% Dogecoin (DOGE) 0.00000627 BTC
+3.22% Uniswap (UNI) 5.32 EUR
+1.93% Uniswap (UNI) 0.00033491 BTC
+1.07% Cardano (ADA) 0.3 EUR
-0.73% Cardano (ADA) 0.00001892 BTC
+0.81% Tron (TRX) 0.05 EUR
-0.30% Tron (TRX) 0.00000329 BTC
+1.13% Shiba Inu (SHIB) 0.00000892 EUR
+1.67% Zcash (ZEC) 39.04 EUR
0.00% Zcash (ZEC) 0.0024543 BTC
-0.79% Basic Attention Token (BAT) 0.00001379 BTC
+0.50% TradeFlow (TFLOW) 0.05281499 BUSD

Bitcoin dominance falls under 40%

12-30-2021

Bitcoin’s market dominance has continued to fall, bottoming out below 40% this week. That’s very close to the all-time low of 36.7% in January 2018, according to data from TradingView. Bitcoin (BTC) market dominance refers to the ratio between BTC’s market capitalization and the total crypto market cap.

 

It’s not the first time its dominance has dipped in 2021. Back in May, Cointelegraph reported that BTC had dipped to represent just 40.3% of the combined crypto asset capitalization, according to CoinMarketCap, and it neared the same level again in September. Bitcoin critic and Europac chairman Peter Schiff tweeted about the event on Wednesday, saying that it’s indicative that BTC is “losing its first-mover competitive advantage.”

 

Research published by TradingPlatforms on Monday stated that the data may signal an incoming “alt season.” Over the last seven years, altcoin market dominance has increased threefold from 21% in 2014 to around the 60% mark this month. Ether’s (ETH) market dominance continues to sit above 20% at almost​​ $500 billion. Over the past year, ETH’s market dominance has doubled from 10%.

 

In a Friday tweet, Crypto analyst Altcoin Sherpa claimed that the “alt season” has already been underway for an entire year. They referenced a chart tracking BTC’s market dominance, suggesting that the downward trend may continue.

 

It remains to be seen whether institutional investments will help put a floor under the dominance metric. In a Tuesday interview with CNBC, Genesis Trading head of market insights Noelle Acheson said that she could see “strong signs” of institutional crypto investment growth accelerating during 2022.

 

Back in October, analysts from international banking giant JPMorgan stated that the BTC rally at the time was being fueled by an increased appetite from institutional investors. They claimed that “institutional investors appear to be returning to Bitcoin, perhaps seeing it as a better inflation hedge than gold.”

 

Source: Cointelegraph