Bitcoin (BTC) now makes up 50 p.c of all the cryptocurrency market capitalization.
Shortly previous 03:00 UTC on August 11, CoinMarketCap’s bitcoin dominance price – an indicator that tracks the p.c of the full cryptocurrency market capitalization contributed by the main cryptocurrency – reached 50 p.c for the primary time since December 19th, 2017.
At press time, bitcoin’s market capitalization now information $105,785,552,545, which is about $901 million greater than the market capitalization of each different cryptocurrency mixed.
The above chart reveals bitcoin’s dominance price has been on a gentle incline over the previous few months, at the moment representing a 14 p.c enhance from Might 1st. In the identical time interval the market dominance of all different cryptocurrencies have largely been on the decline.
Circumstances have been a lot totally different the final time bitcoin’s market dominance was above 50 p.c.
On Dec. 19th, the typical worth of BTC was $17,605.81 throughout exchanges – an 65 p.c greater worth than the cryptocurrency’s worth right now, in keeping with the CoinDesk Bitcoin Value Index.
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