{"id":402102,"date":"2022-02-01T12:05:00","date_gmt":"2022-02-01T09:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-market-cap-dominance-hits-2-month-high-as-altcoins-struggle\/"},"modified":"2022-02-01T12:05:00","modified_gmt":"2022-02-01T09:05:00","slug":"bitcoin-market-cap-dominance-hits-2-month-high-as-altcoins-struggle","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-market-cap-dominance-hits-2-month-high-as-altcoins-struggle\/","title":{"rendered":"# Bitcoin market cap dominance hits 2-month high as altcoins struggle"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a413c06185de\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a413c06185de\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-market-cap-dominance-hits-2-month-high-as-altcoins-struggle\/#Bitcoin_claws_back_market_cap_presence\" >Bitcoin claws back market cap presence<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-market-cap-dominance-hits-2-month-high-as-altcoins-struggle\/#Ethereum_fees_now_dwarf_BTC\" >Ethereum fees now dwarf BTC<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin market cap dominance hits 2-month high as altcoins struggle <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) is retaking market share from altcoins after its market cap dominance hit its highest since November 2021 last week.<\/p>\n<p>Data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/charts\/\">CoinMarketCap<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/CRYPTOCAP-BTC.D\/\">TradingView<\/a> reveals BTC briefly accounted for over 42% of the overall crypto market cap in late January.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_claws_back_market_cap_presence\"><\/span>Bitcoin claws back market cap presence<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Having suffered on the way down from its all-time price highs in November, the latest moves have allowed Bitcoin to reclaim some of its lost ground against altcoins.<\/p>\n<p>Previously, attention was focused on major tokens such as Ether (ETH), Solana (SOL) and others as they capitalized on Bitcoin\u2019s weakness.<\/p>\n<p>With the tables seemingly now turning, strength is flowing back to BTC, which managed to preserve 40% dominance throughout the latter half of last month.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/0aa28f67-4070-4bdf-9dc6-882462d99d5e.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin dominance 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Market cap is far from a perfect measure of market strength, as it pits established tokens against those with a short history, and does not take into account the work done or value behind a given cryptocurrency\u2019s market cap.<\/p>\n<p>Realized cap, which values each unspent transaction output (UTXO) based on the price at which the coins involved in the transaction last moved, is favored by analysts.<\/p>\n<p>Unlike standard market cap, realized cap has remained more or less constant since the all-time highs in November, currently sitting at $453 billion, data from on-chain analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/messari.io\/charts\/bitcoin\/mcap-realized\">Messari<\/a> confirms.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/cd382e61-98e6-4a30-aea6-d1f3f58089be.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin realized cap vs. BTC\/USD chart. Source: Messari<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_fees_now_dwarf_BTC\"><\/span>Ethereum fees now dwarf BTC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On the topic of realized capitalization, the metric for Ethereum has seen a more pronounced retracement since Q4 last year.<\/p>\n<p><strong><em>Related:\u00a0Price analysis 1\/31: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX<\/em><\/strong><\/p>\n<p>With controversy over the ETH 2.0 project accompanying record high fees, criticism over its ability to compete with Bitcoin continues to circulate.<\/p>\n<p>&#8220;Ethereum isn&#8217;t a purpose built value storage and settlement network, Bitcoin is,&#8221; analyst Dylan LeClair <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1488353004118065154\">wrote<\/a> Tuesday about the fees issue. <\/p>\n<blockquote><p>&#8220;ETH has been becoming less efficient as a settlement network since launch as its token has accrued value.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1488353004118065154\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>Data from on-chain analytics firm Glassnode showed the declining value being transferred on the Ethereum blockchain per $1 in fees versus BTC.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/e68981f8-39c5-4fee-b8b3-0f01a51f6855.png\"><figcaption style=\"text-align: center;\"><em>BTC vs. ETH daily transfer volume per $1 in fees annotated chart. Source: Dylan LeClair\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Further figures added that Bitcoin fees now amount to just 1% of the fees paid for ETH transactions.<\/p>\n<p>&#8220;Almost didn&#8217;t believe it when I saw it, BTC currently at ~1% of $ETH in terms of the amount people pay to use the network,&#8221; VC partner Chris Burniske, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cburniske\/status\/1488346920359661569\">uploaded<\/a> the numbers to Twitter, commented.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/d314026e-a207-4bea-8951-b427279f6248.png\"><figcaption style=\"text-align: center;\"><em>BTC vs. ETH fee share chart. Source: Chris Burniske\/ Twitter<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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-market-cap-dominance-hits-2-month-high-as-altcoins-struggle\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin market cap dominance hits 2-month high as altcoins struggle &#8221; Bitcoin (BTC) is retaking market share from altcoins after its market cap dominance hit its highest since November 2021 last week. Data from CoinMarketCap and TradingView reveals BTC briefly accounted for over 42% of the overall crypto market cap in late January. Bitcoin&#8230;<\/p>\n","protected":false},"author":1,"featured_media":402103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvOTk3ODRlMTUtNjUzNi00OGMwLTljNTUtNzZkNzhmYmQ3OTQyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785],"class_list":["post-402102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/402102","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=402102"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/402102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/402103"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=402102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=402102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=402102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}