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.
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