- Bitcoin’s market dominance sinks from 61 percent to 50 percent
- This dates back to February 28 (61% dominance) to April 23 (50% dominance)
- Ethereum’s market capitalization increased from 11.8% to 14.5%
As of February 28, 2021, Bitcoin’s market dominance sunk from 61 percent to a whopping 50 percent by April 23, 2021. This can be attributed to the astounding growth of competition in the cryptocurrency market.
To the unfamiliar, Bitcoin’s market dominance is a metric developed since the advent of altcoins. It puts the entire market capitalization of bitcoin against all the market capitalizations of other cryptos.
This article was first published on coinquora.com
