Study shows altcoin market share triples since 2014 – Altcoins Bitcoin news

Study shows altcoin market share triples since 2014 – Altcoins Bitcoin news

This week, the market dominance of bitcoin among the market capitalization of all 12,046 existing crypto assets was above 38%, while the total value of Ethereum has a dominance of 19%. A report released on Monday shows that since 2014, altcoin’s market share has tripled from 21% in 2014 to today’s 62% market share.

The report says ‘The tide is turning’ and altcoins are ‘moving the ground on Bitcoin’

A report published by tradingplatforms.com and author Edith Reads shows that altcoins have risen in value in the last seven years. The author’s report explains that the “tide is turning” and that altcoins are being created on the ground BTC because their popularity is still growing. ” It is well known that since the beginning of bitcoin, BTCMarket dominance among all other cryptocurrencies that existed was over 80% until February 2017. February 26, 2017, BTC had a market dominance of 86% and since that day has never returned above the 80% range.

Study shows altcoin market share triples since 2014 – Altcoins Bitcoin news

“Since 2014, Altcoins’ market share has been on an upward trajectory,” explains the author of tradingplatforms.com. Reads notes that as of December 9, 2021, altcoins accounted for 62% of market share. “The figure represents a tripling of their dominance in the last seven years. They have tripled from a market share of 21 percent to the current 62 percent, ”adds the Reads study.

The report continues by sharing the growth of the altcoin space and the growing interest in altcoins. “Growth in [the] The market dominance of altcoin indicates a change in thinking about crypto assets, ”says Reads. “Many accept them as an alternative BTC. As the cryptospace continues to evolve, BTCdominance will be under increased pressure, ”notes researcher tradingplatforms.com.

The author of the study claims that “market capitalization is a key factor in crypto ranking”

The author argues that market share dominance is a significant factor in BTCmarket share is declining. “In December 2014. [BTC’s] the market capitalization was 78 percent, ”the study points out. “But that position continued to erode, at 38 percent at the time of the study’s release.” Reads further opinion:

Greater market dominance in most cases means bigger market caps. Market capitalization is a key factor in crypto ranking. Large constraints suggest secure investment options because such cryptocurrencies are less volatile. In essence, it is an indicator of how stable the asset is.

Today there are more than 12,000 crypto assets that have a recorded price value according to coingecko.com metrics. Dok ethereum (ETH) occupies 19.1% of $ 2.54 trillion, many other coins also have decent stakes in the overall crypto economy. BNB has a market dominance of 3.64% and stabilcoin tether (USDT) has about 3.06%. Solana (SOL), the fifth largest crypto market capitalization today, accounts for 2.45% of $ 2.54 trillion and cardano (IT’S HERE) manages 1.97% of the crypto economy.

A study by tradingplatforms.com insists that there are several advantages that altcoins have over BTC including “acquiring a position in [decentralized finance] sector. ” He reads opinions that in terms of scaling, “altcoins are built on better Blockchain technology”. She says that BTC he also deals with a lot of people who care about the environment, and Reads mentioned that “Elon Musk was a vocal critic.”

Labels in this story

Altcoin Domination, Altcoins, Bitcoin (BTC), bitcoin dominance, bnb, BTC, BTC Domination, coingecko.com, crypto means, crypto economy, decentralized finance, Edith Reads, ETH, ETH domination, Ethereum, The dominance of Ethereum, report, study, tradingplatforms.com

What do you think of the study of tradingplatforms.com and Edith Reads ’opinions on today’s dominance of crypto market share? Tell us what you think about this topic in the comments section below.

Study shows altcoin market share triples since 2014 – Altcoins Bitcoin news

Jamie Redman

Jamie Redman is a news anchor on Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols that appear today.




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