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Bitcoin (BTC) now represents 50% of the entire cryptocurrency market capitalization.
Just over 3:00 UTC on August 11, CoinMarketCap bitcoin dominance rate – an indicator that tracks the percentage of total cryptocurrency market capitalization from the major cryptocurrency – reached 50% for the first time since December 19, 2017.
At the time of printing, bitcoin market capitalization now registers $ 105,785,552,545, which is about $ 901 million more than the market capitalization of any other combined cryptocurrency. [19659004] Chart by CoinMarketCap
The graph above shows that the bitcoin dominance rate has been steadily increasing in recent months, currently representing a 14% increase from 1 May. In the same period the dominance of the market of all the other cryptocurrencies is largely in decline.
The conditions were very different the last time the bitcoin market dominance was over 50%.
On 19 December, the average price of BTC was $ 17,605.81 through exchanges – a price 65% higher than the value of cryptocurrency today, according to CoinDesk's bitcoin price index.
Image via Shutterstock
The leader of the blockchain news, CoinDesk is a point of reference that is committed to the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in criptovalute and blockchain startups.
This article is intended as news to inform our readers of various events and developments that influence, or could influence in the future, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and does not provide, sufficient information to form the basis for an investment decision, and you should not rely on such information for this purpose. The information presented here is accurate only at the date and has not been prepared by a research analyst or other investment professionals. You should look for more information about the merits and risks of investing in any cryptocurrency before deciding to buy or sell such instruments.
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