Bitcoin market dominance is about to collapse below 50%
Bitcoin’s dominance has now dropped to its lowest level since August 2018, dangerously approaching falling below the psychologically important 50%.
On April 21, the market share of the largest cryptocurrency reached 50.7% for the first time since August 7, 2018. It decreased by 31% compared to its peak of 73% in January.
Ethereum, the largest altcoin, Ripple affiliate XRP, as well as the cryptocurrency memo Dogecoin, all eliminate the dominance of Bitcoin, as investors pursue monstrous returns during another cryptocurrency frenzy.
While Bitcoin has grown by 790 percent in the last year, Dogecoin and Binance Coin have grown by more than 15,000 percent and 3,000 percent, respectively.