RATE Group | Bitcoin Dominance Eyes 60% as Ethereum Price Flounders
42005
wp-singular,post-template-default,single,single-post,postid-42005,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Dominance Eyes 60% as Ethereum Price Flounders

12 Sep Bitcoin Dominance Eyes 60% as Ethereum Price Flounders

Posted at 00:29h in Ethereum News by

[ad_1]


bitcoin

The recent fallout in altcoin prices, particularly ethereum, has boosted bitcoin’s dominance of the crypto market, now commanding nearly 60% of market share.

As of today, bitcoin holds 56.72% of the market compared to ethereum’s 12.62%, according to CoinMarketCap.

The orange line presents bitcoin’s crypto market share while the dark blue line shows Ethereum’s. Source: coinmarketcap.com

Bitcoin’s price woes of the past month have not been enough to compromise its market dominance, largely because ethereum’s struggles have been disproportionately fiercer.

None of the other altcoins have been a factor in the historic bitcoin/ethereum rivalry for crypto market dominance, a rivalry that has consistently favored bitcoin.

Bitcoin’s Dominance Never Challenged

bitcoin price
YTD Bitcoin Price. Source: Coinmarketcap.com.

June 19 of last year marked bitcoin’s weakest market position when ethereum grabbed 30.63% of the market to bitcoin’s 37.87%. Ripple was third with 9.6%, followed by…

[ad_2]

Source link