What is bitcoin dominance?

The simple definition for bitcoin dominance is the proportion of the entire market capitalisation of all cryptocurrencies that bitcoin accounts for. Market capitalisation is calculated by multiplying coins in circulation with current price. So when bitcoin was the only cryptocurrency in existence, its dominance was 100%.

What percentage of the cryptocurrency market is bitcoin?

Bitcoin currently holds approximately 45% of the total cryptocurrency market at the time of writing. Historically this is on the lower end of the scale as dominances tends to range between 40-80%. What does the Bitcoin Dominance Index help with?

What is the most dominant crypto asset?

Bitcoin, without a doubt, is the most dominant crypto asset. This is facilitated by its long-standing history and the media attention surrounding it. Currently Bitcoin dominance index fluctuates at about 70%. A percentage this high has not been observed since April 2017, shortly before the previous bull market began.

What is the price of Bitcoin (BTC)?

The BTC price is $8,259.63. Total market capitalization is $148.74 b. During long-term market shifts, the dominance metric can show whether demand for Bitcoin remains higher than the market average. When market value increases, BTC dominance declines.