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BTC Market Dominance Dropped by 38.32% Over Weekends, ETH Grows -Breaking

by Mike Robinson

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© Reuters. BTC Market Market Share Drops by 38.32% in Weekends. ETH Growths
  • Market dominance dropped to as low as 38.32% over the weekend.
  • The entire crypto market cap stands at $2.4 trillion compared to last month’s over $1 trillion.
  • market experience dominance grows.

Bitcoin market dominance dropped to its nearly lowest level ever, amid this weekend’s crypto crash. 38.12% was the market share of the biggest crypto market by market cap. Additionally, all of the crypto markets were suffering. CoinMarketCap reports that the crypto market was at its lowest level this year, reaching 37.76% in May.

The entire cryptocurrency market cap, as compared with last month’s, was more than $1 trillion. Right now, it is $2.4 trillion. And the Bitcoin market capitalization stands at $924 billion. This sell-off, which began Friday and continued on Saturday, impacted the whole coin market. Bitcoin was particularly affected.

According to Qiao Wang, “this might be the worst BTC price action vs Alts I’ve seen over the past decade.” In fact, Bitcoin (BTC) price has crept back up to $48,930 as of Sunday afternoon, just down 1% over the past 24hours and 10% in the past week.

Ethereum, which is the second largest cryptocurrency in market capital, suffered a price drop in recent days. However, Ethereum’s market dominance is increasing as more people sell Bitcoin. The figure shows that Ethereum’s dominance was 20% on Saturday.

Continue reading on CoinQuora

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