Cryptocurrency
Bitcoin’s Portion of Total Crypto Market Cap Hits Highest Level Since December via @cointelegraph
In a report by Cointelegraph, “Bitcoin’s (BTC) dominance by market capitalization in the total crypto market posted its highest level in 2018 July 23, passing 46 percent for the first time. “According to data from CoinMarketCap, Bitcoin dominance — defined as the percentage of the total market cap of all cryptocurrencies that is Bitcoin’s market cap — currently constitutes […]
In a report by Cointelegraph, “Bitcoin’s (BTC) dominance by market capitalization in the total crypto market posted its highest level in 2018 July 23, passing 46 percent for the first time.
“According to data from CoinMarketCap, Bitcoin dominance — defined as the percentage of the total market cap of all cryptocurrencies that is Bitcoin’s market cap — currently constitutes 46.5 percent, a level last seen on December 22, 2017. At the time, Bitcoin was trading just below all-time highs around $20,000 per coin.
“The move comes as sentiment surrounding Bitcoin in particular continues to improve after BTC/USD jumped in excess of 15 percent over the last five days.
“At the same time, altcoin assets have struggled to achieve similar gains, posting losses against Bitcoin.
“Despite market cap becoming a dubious metric for testing Bitcoin’s underlying health, the 2018 record did not escape media attention, while various industry players also appeared enthusiasticabout Monday’s performance.”