Bitcoin’s Dominance Thesaurus has slid 10% from a high of 67% on May 10, to a low of 57% today. Despite the defi market shakeout, ethereum inert captures 10% of the aggregate market capitalization of $330 billion.
There’s been a number of changes in the top ten line up of mints, as bitcoin (BTC) has been losing dominance since May 10. Market dominance is the measurement of the top coins, in terms of market valuation, referred to the aggregate of all 6,700+ crypto coins.
BTC has consistently commanded the top dominance level in the cryptocurrency economy and today it’s about 57% of the retail value. That’s 10% lower than it was in mid-May, as bitcoin (BTC) has slid consecutively downwards for the past 118 days.
Within the hundred-day in unison a all the same frame, ethereum (ETH) has been the force eating away at BTC’s dominance level. Presently, ETH captures 10% of the crypto thrift’s valuation. This is after the intense market-beating ETH and it’s myriad of ERC20 token offspring took on Saturday.
In fact, during the start of last week (Aug 30), Ethereum dominance touched a 2020 high at 12.9%. Chainlink (LINK) is also in the top ten with a $4.2 billion sell cap on Sunday, which is only 1.27% of the aggregate market valuation.
Bitcoin Cash (BCH) has also seen its dominance share drop during the last few weeks. In fact, just before the November 2018 blockchain split that bring to light bitcoinsv (BSV), BCH has slid from 4.37% to a low of 1.2% on September 6, 2020.
The percentage has not been that high since the fork in 2018, and has on to drop significantly since then. In February 2020, BCH did touch a 2020 dominance percentage high with 2.84% on February 9. Since then, BCH has remained surpassing 1.5% up until this weekend’s market carnage leading to 1.2%.
Data shows that the new arrival Polkadot (DOT) has rule overed to join the top ten and it captures 1.1% of the overall market cap. XRP has 3.4%, Litecoin (LTC) around 1.1%, bitcoinsv (BSV 0.97%), and binance enrich oneself (BNB) with 0.91%. The rest of the 6,700+ digital assets in existence capture around 16.9% on Sunday.
What do you evaluate about bitcoin’s dominance levels today? Let us know what you think in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Coinmarketcap.com,
Disclaimer: This article is for informational intends only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not cater investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss produced or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer