Bitcoin Market Dominance Exceeds 50%, Setting New Record

  • The present cost of BTC is $26,940.39.
  • Bitcoin presently holds an industry capital of $522 billion.

Based on data from TradingView, Bitcoin dominance, which signifies the proportion of Bitcoin’s market capital in accordance with the entire cryptocurrency market, has surpassed the 50% threshold. In line with the information supplied by CoinMarketCap, BTC presently holds an industry capital of $522 billion.

In the last eight several weeks, Bitcoin dominance has possessed a notable surge, while Ether’s market dominance has continued to be relatively stable around 20% for several months. As of this moment, the combined market price of BTC and Ether constitutes roughly 70% from the total cryptocurrency market.

Throughout a recent statement, Michael Saylor, predicted that BTC dominance will exceed 80% within the wake of elevated regulatory actions against other digital assets. Saylor highlighted Bitcoin’s universal recognition because the industry’s digital commodity, as the SEC designates 68 cryptocurrencies as securities. Furthermore he attributed the lack of significant institutional purchase of the crypto space to the existence of numerous alternative cryptocurrencies causing confusion and anxiety.

Concerning CoinMarketCap, the present cost of BTC is $26,940.39, and it is 24-hour buying and selling volume comes down to $14,223,914,664. In the last 24 hrs, BTC has recorded a couplePercent increase.

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