Ripple victory against SEC leads to loss of Bitcoin market rule, old coins win in dominance
Ripple victory against SEC leads to loss of Bitcoin market rule, old coins win in dominance
Title: Bitcoin market content drops to Ripple-Sieg-Altcoins benefit
subtitle: Return of the "Altcoin Season" ensures increasing dominance of alternative cryptocurrencies
The market share of Bitcoin (BTC) has dropped significantly after the victory of Ripple against the US stock exchange supervision SEC. This has led to the market share of the market leader for the first time in a long time under 50 %.
The so-called Bitcoin Dominance, i.e. the dominant market share of Bitcoin on the overall market capitalization of all cryptocurrencies, was 49.76 % on July 14th-based on the data from TradingView.
A few weeks ago, BTC was able to exceed the 50 %brand again after more than two years. This was mainly due to a number of applications for a Bitcoin index fund (ETF) in the USA. In the past 24 days, the market share of the largest cryptocurrency has moved between 51 % and 52 %.The decline in Bitcoin dominance is not surprising. The crypto community sees this in connection with the return of the “Altcoin Season”.
trigger for the increase in alternative cryptocurrencies was the successful Ripple process against the Sec. The Ripple token XRP was then able to increase a whopping 83 % and briefly took fourth place under the greatest cryptocurrencies.
But the euphoria about the victory of Ripple is not limited to the payment service provider. Several other old coins that are accused of being securities were also able to record double -digit growth on July 14th.
Ethereum (ETH) rose by 8 % and was able to exceed the important mark of $ 2,000 for the first time in three months. Cardano (ADA) even grew a whopping 25 % and achieved a price of $ 0.357.
Solana (Sol), another old coin that is classified by the SEC as a potential security, was able to increase by 34 % and achieved a price of $ 29. Polygon (Matic) improved by 20 % to $ 0.854.
also Stellar (XLM), a payment network that was created in 2015 as a fork of the Ripple blockchain, followed a price increase of over 50 %.
after the message However, it remains to be seen whether this upswing of the old coins is long -lasting. The overall market capitalization still seems to be in a sideways movement. At the time of the editorial deadline, the Bitcoin dominance was able to briefly increase to 50.11 %. In contrast, Bitcoin itself could only buy moderate 3.5 % and closed at $ 31,686.
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