{"id":235201,"date":"2021-04-25T20:03:25","date_gmt":"2021-04-25T17:03:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-dominance-teeters-at-50-as-eth-altcoins-gain-traction\/"},"modified":"2021-04-25T20:03:25","modified_gmt":"2021-04-25T17:03:25","slug":"bitcoin-dominance-teeters-at-50-as-eth-altcoins-gain-traction","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-dominance-teeters-at-50-as-eth-altcoins-gain-traction\/","title":{"rendered":"# Bitcoin dominance teeters at 50% as ETH, altcoins gain traction"},"content":{"rendered":"<p>&#8220;<strong># Bitcoin dominance teeters at 50% as ETH, altcoins gain traction  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) dominance briefly fell below 50% last week for the first time since January 2018, sending a strong signal that more speculative bets on altcoins was on the rise.<\/p>\n<p>The Bitcoin dominance index, which measures BTC\u2019s market capitalization relative to the broader cryptocurrency market, reached a low of 49.35% on Thursday, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/charts\/\">according<\/a> to CoinMarketCap. At the beginning of 2021, BTC dominance was 70.68%. <\/p>\n<p>Ethereum (ETH), meanwhile, accounted for nearly 15% of the overall market at its peak on Thursday. ETH dominance is up nearly 4 percentage points since the start of 2021. <\/p>\n<p>ETH has outperformed BTC over the past seven days, charting an impressive 9.5% return. The second-largest cryptocurrency by market cap is down 10% from its previous all-time high whereas Bitcoin has corrected over 20%. <\/p>\n<p>Binance Coin (BNB) has also seen its share of the overall market grow steadily this year, from 0.71% on January 1 to 4.17% on April 25. BNB is being supported by several fundamental factors, including growing adoption of the Binance platform and a coordinated burn of $600 million worth of tokens in the first quarter. <\/p>\n<p>Meanwhile, cryptocurrencies outside the top ten have seen their share of the overall market inflate from less than 11% to over 18% since January 1. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/7c2c7089-8c49-41bc-b7bd-0c06e20f3aea.jpeg\"><figcaption style=\"text-align: center;\"><em>Despite registering multiple record highs this year, Bitcoin&#8217;s dominance relative to altcoins has declined sharply. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n<p>Commenting on the market shuffle, Meltem Demirors, the chief strategy officer of crypto investment manager CoinShares, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Melt_Dem\/status\/1386331936755437569?s=20\">said<\/a> she is \u201cseeing a lot of folks chasing returns by moving further out on the risk spectrum.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ on thursday, bitcoin dominance fell below 50% for the first time in nearly 3 years<\/p>\n<p>the last time this h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened was January 2018, and that cycle last about 6 months<\/p>\n<p>seeing a lot of folks chasing returns by moving further out on the risk spectrum<\/p>\n<p>94 coins w\/ mcap &gt; $1B <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/s2BX48rqao\">pic.twitter.com\/s2BX48rqao<\/a><\/p>\n<p>\u2014 Meltem Demirors (@Melt_Dem) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Melt_Dem\/status\/1386331936755437569?ref_src=twsrc%5Etfw\">April 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Demirors also observed that 94 cryptocurrencies now have a market capitalization of $1 billion or more. At the time of writing, that figure had fallen to 87, according to CoinMarketCap. An additional seven projects were valued at $900 million or more. <\/p>\n<p>Analysts are divided about the pace and timing of the so-called alt season, a period of the market cycle where many altcoins surge against the dollar and Bitcoin. Ben Lilly, co-founder and analyst at Jarvis Labs, told Cointelegraph last week that he doesn\u2019t believe now is the best time to reallocate from BTC to altcoins from a risk-adjusted perspective. <\/p>\n<p>Meanwhile, an analysis from Filbfilb, co-founder of the Decentrader trading suite, concluded that we are now approaching the major boom period for altcoins. <\/p>\n<p>The current market cap for altcoins is $937 million. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-dominance-teeters-at-50-as-eth-altcoins-gain-traction\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin dominance teeters at 50% as ETH, altcoins gain traction &#8221; Bitcoin (BTC) dominance briefly fell below 50% last week for the first time since January 2018, sending a strong signal that more speculative bets on altcoins was on the rise. The Bitcoin dominance index, which measures BTC\u2019s market capitalization relative to the broader&#8230;<\/p>\n","protected":false},"author":1,"featured_media":235202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvNDkwYjExYmMtOTVlMy00M2NjLTk5ZjctMjYzMjFiZjg0NjI2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75166,74937,74982,74863,82402,74939],"class_list":["post-235201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-binance-coin","tag-bitcoin-price","tag-btc-markets","tag-cryptocurrencies","tag-ether-price","tag-market-analysis"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/235201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=235201"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/235201\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/235202"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=235201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=235201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=235201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}