Bitcoin Dominance Rate Hits 50% For First Time in 2018

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Bitcoin currently makes up 50 percent of the whole cryptocurrency market capitalization. Soon previous 03: 00 UTC on August 11, CoinMarketCap’s bitcoin dominance speed – an indicator that monitors the percentage of the total cryptocurrency market capitalization contributed by the leading cryptocurrency – reached 50 percent for the very first time since December 19th, 2017. At that time, bitcoin’s market capitalization currently records $105, 785, 552, 545, which will be about $901 million more than the market capitalization of each other cryptocurrency combined. Chart via CoinMarketCap. The preceding chart shows bitcoin’s dominance speed has been on a constant slope on the last several months, currently representing a 14 percent increase from May 1st.

At the same time period the market dominance of the rest of the crypto-currencies are largely been on the decline. Conditions were substantially different the last time bitcoin’s market dominance was over 50 percent. On Dec. 19th, the normal cost of BTC was $17, 605.81 across exchanges – an 65 percent greater cost compared to cryptocurrency’s value today, in accordance with the CoinDesk Bitcoin price index. Picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

This article is intended as news item to notify our subscribers of different events and developments that impact, or which could in the future affect, the value of the cryptocurrency described above. The info contained herein isn’t meant to provide, and it doesn’t provide, adequate info to create the basis of an investment decision, and you shouldn’t rely on this info for this purpose. The info presented herein is accurate only as of its date, and it wasn’t prepared by a research analyst or other investment professional. You need to seek additional information concerning the merits and risks of investing in any cryptocurrency before choosing to buy or sell any instruments. Combine 10, 000+ traders that come to us to be their eyes on the charts, supplying all that is hot and not in the crypto markets.

Sources:
coindesk.com
strict set of editorial policies

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