Therefore, the Bitcoin dominance is described as the ratio between the market cap of Bitcoin to the rest of the cryptocurrency markets . For many years, while Bitcoin was far and away the largest cryptocurrency – and one of the few in existence – its dominance was much closer to 100% than it is today.
Read moreWhat is dominance in CoinMarketCap?
What Is Dominance? The Bitcoin Dominance Index is provided by CoinMarketCap, and keeps track of Bitcoin’s total market capitalization relative to the total market cap of all digital assets .
Read moreWhat is Altcoin dominance?
Within the crypto world, this so-called “dominance” ratio is one of the oldest and most investigated metrices available. It measures the coin’s market cap relative to the overall crypto market – effectively showing how strong Bitcoin compared to all the other cryptocurrencies that are not BTC, called “altcoins”.
Read moreHow does Bitcoin dominance affect altcoins?
Interestingly, Bitcoin dominance is often affected by the so-called “alt seasons”, in which altcoins gain market share relative to Bitcoin, thus reducing Bitcoin’s dominance . Note, however, that Bitcoin dominance is not always directly affected by bull or bear markets because it is a ratio, not an absolute term.
Read moreWhich Altcoin has the most potential?
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