Bitcoin Dominance Stops The Bleeding Relative to Ethereum and Alt-Coins (For Now)

Last week we saw the Market Dominance of Bitcoin declining while that of Ethereum and Alt-coins rose in turn. This week, Bitcoin manages to stop some of the bleeding as we see the chart (below) flatten out. How long will it last?

  • What is BTC Dominance?
    • Market cap of BTC / Total market cap
  • What is ETH Dominance?
    • Market cap of ETH / Total market cap
  • What is the Alt-Dominance?
    • A composite measure = ETH dominance + other alt-coin dominance
    • Notably excludes most DeFi and large L1 projects (which tend to move with ETH)
  • Why does this matter?
    • Market Dominance measures the maturity of a coin within the total market. To be successful and grow continuously, cryptocurrencies need to increase their market dominance. 

Meaning of Blue Line – BTC market dominance relative to the rest of the industry. As of Aug 18, 2022 BTC market dominance is 40.83%.

Meaning of Red Line – ETH market dominance relative to the rest of the industry. As of Aug 18, 2022 ETH market dominance is 20.79%.

Meaning of Yellow Line – BTC is massively losing dominance relative to Ethereum

All this shows that while BTC has stopped losing market share over the past week, the general downward trajectory in its dominance (or crypto importance) hasn’t changed. The crypto market, in short, continues to grow beyond BTC.

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