ada, BCH, Binance Coin (BNB), Bitcoin, Bitcoin (BTC), bitcoin cash, Bitcoin Price, bnb, BTC, BTC Dominance, crypto assets, crypto economy, Ethereum, Market Caps, Markets, markets and prices, Percentages, Tether, USDT, Valuations, XRP

Bitcoin dominance, the metric that measures bitcoin’s overall market capitalization against all the other crypto asset valuations has dropped considerably in recent weeks. At the end of February, bitcoin dominance levels started sliding downward from 61% to today’s 50%. Meanwhile, from the same point in time ethereum’s market capitalization has increased from 11.8% to today’s 14.5%.

Bitcoin Dominance Sinks to 50%

Ever since the birth of alternative crypto assets, people have used a metric called bitcoin (BTC) dominance, a measurement that records BTC’s entire capitalization against all the market capitalizations held by other coins.

Interestingly, minus a few small dips, BTC’s dominance was above the 80% range from the day it was conceived to February 2017.

ada, BCH, Binance Coin (BNB), Bitcoin, Bitcoin (BTC), bitcoin cash, Bitcoin Price, bnb, BTC, BTC Dominance, crypto assets, crypto economy, Ethereum, Market Caps, Markets, markets and prices, Percentages, Tether, USDT, Valuations, XRP
BTC/USD hourly chart on April 23, 2021.

During the first week of January 2018, BTC’s dominance dropped to an all-time low of 33%. This year, bitcoin dominance levels have been mostly above the 60% region and in January 2021, it neared 70%.

However, since February 28, BTC dominance has slid from 61% to a low of 50% on April 23. At the same time from February 28 until now, ethereum (ETH) has climbed from 11.8% to 14.5%.

A Myriad of Competitors Push Bitcoin Dominance Levels Lower

Ethereum’s market cap is not the only coin eating away at BTC’s dominance levels. Binance coin has captured the third position in terms of crypto market valuations and commands 4.33% of the crypto economy’s entire $1.87 trillion market cap.

The stablecoin tether (USDT) holds 2.8%, XRP has 2.25%, and cardano (ADA) has 1.9% today. The top 15th position held by solana (SOL) and all the way to the seventh position dogecoin, commands .50% of the entire crypto-economy or more.

ada, BCH, Binance Coin (BNB), Bitcoin, Bitcoin (BTC), bitcoin cash, Bitcoin Price, bnb, BTC, BTC Dominance, crypto assets, crypto economy, Ethereum, Market Caps, Markets, markets and prices, Percentages, Tether, USDT, Valuations, XRP
ETH/USD hourly chart on April 23, 2021.

From October 2020 until today, the overall crypto capitalization excluding bitcoin has increased a great deal from $145 billion to close to a trillion. A great number of coins have seen gains alongside BTC’s climactic bull run, but a few coins, in general, have eaten a lot more than most.

Tokens like ethereum, binance coin, cardano, XRP, and tether (USDT) as well have done the most damage to BTC’s dominance levels.

What do you think about BTC’s dominance levels dropping to record lows for 2021? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Ethereum Classic Rose 220% This Week, but Why?

Ethereum Classic, a seemingly forgotten cryptocurrency, reached the attention of many this week when its price skyrocketed out of the blue, but there might be some reasons behind it. Also, Bitcoin Cash and other Bitcoin-based forks enjoyed a healthy week in the green, alongside Dogecoin, whose price boosted on the news of Elon Musk appearing […]

Xem chi tiết: Ethereum Classic Rose 220% This Week, but Why?

Wealth Manager Vaneck Files Application for an Ethereum ETF, Aims for Cboe BZX Listing

Public documents show the wealth manager Vaneck has applied for an ethereum based exchange-traded fund (ETF). Vaneck Digital Assets’ Form S-1 filing with the Securities and Exchange Commission (SEC) was filed on May 7, while the company’s bitcoin-based ETF is still under review. While Waiting for Approval for Its Bitcoin ETF, Vaneck Files With the […]

Xem chi tiết: Wealth Manager Vaneck Files Application for an Ethereum ETF, Aims for Cboe BZX Listing

Real Estate Listings Accepting BTC Touch Record Highs, 14.3 Homes per 100,000 Accept Crypto

Bitcoin and the crypto economy have been making their way into the world of real estate these days. A recently published report shows that Realtor.com data indicates that people selling property for crypto assets have risen a great deal. Statistics show that there are 14.3 crypto accepting listings per 100,000 homes in the company database. […]

Xem chi tiết: Real Estate Listings Accepting BTC Touch Record Highs, 14.3 Homes per 100,000 Accept Crypto

Crypto Payment Firm Simplex Acquired by Publicly-Listed Canadian Firm Nuvei for $250 Million

The publicly-listed Canadian firm Nuvei Corporation announced the acquisition of the cryptocurrency company SimplexCC Ltd in an all-cash deal for $250 million. The deal is pending regulatory approval and Nuvei expects Simplex to “enhance†the firm’s portfolio of alternative payment method solutions. Nuvei Acquires Crypto Payments Provider Simplex On May 6, the Canadian company Nuvei […]

Xem chi tiết: Crypto Payment Firm Simplex Acquired by Publicly-Listed Canadian Firm Nuvei for $250 Million

Marathon Mines First OFAC Compliant Bitcoin Block

Marathon, one of the biggest bitcoin mining dedicated companies in the U.S. and Canada, has mined the first OFAC compliant bitcoin block, only accepting transactions that comply with the directives of this government office. This has caused a stir in libertarian circles, that argue this can be the start of censorship in the bitcoin blockchain […]

Xem chi tiết: Marathon Mines First OFAC Compliant Bitcoin Block

FBI Puts Warning Signs on Bitcoin ATMs in This US County Following a Scam

The Federal Bureau of Investigation (FBI) is putting up warning signs on bitcoin ATMs in Cuyahoga County of the U.S. state of Ohio to warn residents not to fall for scams asking victims to send money to scammers via bitcoin ATMs. FBI Putting Warning Signs on Bitcoin ATMs The Cuyahoga County Scam Squad in Cleveland […]

Xem chi tiết: FBI Puts Warning Signs on Bitcoin ATMs in This US County Following a Scam

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Precious metals (PM) markets have been trading a bit higher in recent days, while cryptocurrency markets have been seeing gains as well. Spot gold prices have jumped to $1,805 per ounce, up more than 1.3% during the last 24 hours, while silver prices have increased by 2.5%. As PMs have gathered strength this week, crypto-asset […]

Xem chi tiết: ‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

‘Once in a While You Get Shown the Light’— Jerry Garcia Art to be Auctioned as an NFT for $1 Million

The now-deceased and former lead guitarist for the Grateful Dead, Jerry Garcia, will have a rare piece of his artwork sold as a non-fungible token (NFT) collectible asset. The NFT is a digital piece called “Gift†and is being sold by the Jerry Garcia Foundation, a nonprofit that supports “environmental, artistic and humanitarian causes through […]

Xem chi tiết: ‘Once in a While You Get Shown the Light’— Jerry Garcia Art to be Auctioned as an NFT for $1 Million

Wallstreetbets Forum Members Targeted by a Crypto Scam That Reportedly Left Over $2M in Losses

FBI Puts Warning Signs on Bitcoin ATMs in This US County Following a Scam

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Crypto Analytics Firm Coin Metrics Raises $15 Million, Goldman Sachs Leads Funding Round

Venture Capitalist Proposes a Single Decentralized Crypto as a Solution to Boost Africa’s Inter-Regional Trade

The $70B Meme Coin Market: Dogecoin Skyrockets Past a Half Dollar, DOGE Market Cap Eats Into BTC Dominance

Bitcoin Cash Slated for May 15- Upgrade to Bring Improvements for Users and Merchants

How Did Satoshi Nakamoto Remain Anonymous? A Detailed Look at the Bitcoin Creator’s Opsec