Bitcoin's dominance falls significantly, further worrying for BTC investors



This morning the cryptocurrency markets are experiencing a sideways movement (UTC + 3) with total market capitalization showing stability above $ 250 billion and current levels of $ 254.65 billion. The same can not be said of the dominion of the King of Crypto in the markets. The Bitcoin domain (BTC) seems to be falling to current levels of 47.4%. The BTC fell from 48.76% of the levels assisted less than 3 days ago on 3 August. This is a fall of 1.36% over the same period.

BTC domain on 3 August. Source, coinmarketcap.com

The dominance of Ethereum (ETH) is however increased up to 16.26% compared to the 15.62% observed on 3 August.

The same August 3 saw the BTC 24-hour trade volumes of $ 4.6 billion. That volume is now at $ 3.799 billion which indicates a significant decline in Bitcoin's market share. ETH volumes fell from $ 1.88 billion to current $ 1.4 billion in the same period of time

Looking at the preferred stable currency – Tether (USDT) – during periods of falling markets, its Daily trading volume has been steadily increasing in the last month or so. This indicates that investors choose to keep the USDT whenever market turbulence occurs.

Normal daily USDT levels vary from $ 1.5 billion to about $ 3 billion. But on July 28th, this value reached an incredible $ 13.487 billion in one day. This is a clear indication of an investor base of Bitcoin and Ethereum worried or overly cautious.

What has also been noted in the last 24 hours is that some alternative currencies have gained significantly in the markets, indicating a shift from the five main cryptographic resources of BTC, ETH, XRP, BCC, EOS and LTC.

Ethereum Classic (ETC) is still basking in the news of a confirmed addition to Coinbase and currently has increased by 4.26% in the last 24 hours and traded at 17.32 dollars. ZCash (ZEC) is also up 3.37% in the last 24 hours and currently trading at $ 182. DigiByte (DGB) has risen 3.58% in the last 24 hours and is currently trading at $ 0.0334.

MOAC current value. Source, coinmarketcap.com

The most impressive of the 100 best digital assets according to coinmarketcap.com is MOAC (MOAC) which is currently growing 12.67% in the last 24 hours and trading at $ 4.50 at the time of writing this [19659011] Disclaimer: This article is not intended to give financial advice. Any opinion here should be taken as well as it is. Perform your research before investing in one of the many cryptocurrencies available.


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