Home Bitcoin News Bitcoin Dominance Fee Hits 50% For First Time in 2018

Bitcoin Dominance Fee Hits 50% For First Time in 2018

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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.

Chart by way of CoinMarketCap

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.

Picture by way of Shutterstock

The chief in blockchain information, CoinDesk is a media outlet that strives for the very best journalistic requirements and abides by a strict set of editorial policies. CoinDesk is an impartial working subsidiary of Digital Foreign money Group, which invests in cryptocurrencies and blockchain startups.

This text is meant as a information merchandise to tell our readers of varied occasions and developments that have an effect on, or which may sooner or later have an effect on, the worth of the cryptocurrency described above. The data contained herein will not be meant to supply, and it doesn’t present, ample data to type the idea for an funding choice, and you shouldn’t depend on this data for that objective. The data introduced herein is correct solely as of its date, and it was not ready by a analysis analyst or different funding skilled. It’s best to search extra data relating to the deserves and dangers of investing in any cryptocurrency earlier than deciding to buy or promote any such devices.

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