Cryptocurrency Q&A
How does BTC dominance work?
How does BTC dominance work?
Luigia
Fri Dec 06 2024
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6 answers
1039
I want to understand how BTC dominance operates. What factors contribute to it and how does it impact the overall cryptocurrency market? Is it solely based on Bitcoin's market share or are there other elements that influence its dominance?
6 answers
Elena
Sun Dec 08 2024
BTC dominance represents a specific percentage derived from a calculation.
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HallyuHero
Sun Dec 08 2024
This calculation involves dividing Bitcoin's current market capitalization by the overall market capitalization of the global cryptocurrency industry.
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Federico
Sun Dec 08 2024
It serves as an indicator of Bitcoin's relative strength within the broader crypto market.
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CryptoGladiator
Sun Dec 08 2024
As of the time of this writing, Bitcoin's market capitalization stands at approximately US$539 billion.
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KatanaSharpened
Sat Dec 07 2024
Meanwhile, the combined market capitalization of all cryptocurrencies globally amounts to roughly US$1.16 trillion.
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