Bitcoin dominance falls below 40% for the first time in 6 months-market tactualizations

In the last week, the Bitcoin price floated below the range of USD 60,000 and supporters of digital currencies are wondering in which direction the market will develop next. At the time of writing, the crypto economy is estimated at $ 2.81 trillion and Bitcoin's market dominance has fallen under the 40%region for a few days.

Bitcoin dominance drops to 39.7%, while Ethereum dominance masters

The price of Bitcoin (btc) reached 69,000 USD on November 10, on the 16th, the price fell below the 60,000 USD zone and has not returned over this region since then. Today, according to the crypto coin market aggregates, around 11,117 coins are traded on 525 cryptocurrency exchanges. The value of all more than 11,000 existing crypto coins is around $ 2.81 trillion and has risen by 3.9% in the last 24 hours.

Bitcoin (BTC) has an overall market capitalization of around 1.1 trillion US dollar and on Thursday, November 25th, btc The dominance is 39.7%. btc ’s dominance was not so low since mid-May 2021 , or about six months ago. The last time he was below 40% before the decline was on June 17th, 2018. Statistics point out that the second largest crypto asset, Ethereum (eth) , has around 19% of the market dominance on Thursday. Ether has a market assessment of around $ 525 billion at the time of writing.

While ethereum (eth) has a significant share of dominance, a number of other crypto-assets have also gained value in the top 20 positions and increased their own dominance. binance coin (bnb) dominates 4.02 % of the crypto economy of $ 2.78 trillion and the stablecoin Halt rope (USDT) records 2.74 %. Solana (sol) this year has gained a lot of value this year and SOL has 2.43% of the overall value of the crypto economy. cardano (ada) is another one that lasts more than 2%, since ada The market evaluation of on Thursday is 2.13% of the crypto economy.

11.116 crypto-assets have a Fiat value of $ 1.68 trillion $

Only five other crypto assets have more than 1% of the Fiat value of the crypto economy and six coins have more than 0.5% of the value of $ 2.81 trillion. Interesting, bitcoin (btc) this year stayed over the 60%brand for two months, but btc at the end of February the dominance fell below 60 %. Another interesting fact is that btc Dominance over the 80%region (minus a few short cases) until the end of February) 2017.

btc ’s dominance never returned via the 80%region, but reached on January 3, 2021, the 12th anniversary, 70%. Bitcoin has a lot more competition than in the early days, as there were only a few hundred competitors before 2013. At the time btc 2017 slipped under the 80%dominance span, there were a few thousand alternative digital assets. Still still, btc with a fiat value of 1.1 trillion US dollar, while 11.116 crypto-assets is a fiature of 1.68 Have billion US dollars.

What do you think that Bitcoin's dominance drops below the 40%zone? Let us know your opinion on this topic in the comments below.

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