After crossing the $1 trillion mark in early January 2021, the cryptocurrency market is now seeing a more balanced distribution of growth between the two main assets in the game: Bitcoin (BTC) and Ether (ETH). The seventh. In January, the day the market crossed the $1 trillion mark, bitcoin’s dominance reached 69%, compared to 13.5% for ether. On the other hand, CoinMarketCap’s latest update this week shows Bitcoin dominating at 62.2%, compared to 15.6% for Ether. Bitcoin
Total market capitalization of all cryptocurrencies. Source: CoinMarketCap
Ether’s relatively higher market share is a sign of a record performance for this asset this week, which finished 3rd. February saw a new record of $1,653. At the same time, bitcoin’s dominance fell to 61.6%.
At the time of writing, Ether is up more than 6% at $1,623, while Bitcoin is up 3.5% at $37,142. The increase in the price of Ether has led to a corresponding increase in fees, affecting DeFi protocols – although the fee and burn mechanism for Ether proposed by Vitalik Buterin and Eric Conner has the confidence of Grayscale Investments, which believes that this initiative, if implemented, could create a positive feedback loop for the price of Ether.
This week, market analysts also pointed to current incentives for bulls to push bitcoin’s target to $40,000, including the expiration tomorrow of $1 billion in open interest in bitcoin options.
frequently asked questions
What is the largest capitalization in the cryptocurrency market?
all positions all
What is the total capitalization of the cryptocurrency market?
The market capitalization is currently over $600 billion. Market capitalization is calculated by multiplying the total number of bitcoins in circulation by the price of bitcoin.
Is market size important for cryptocurrencies?
The market constraint is price, not value. It does not reflect the value of the company or crypto asset you are investing in. This is a fundamental difference that is often overlooked. The price is what you pay for a coin or token, it has nothing to do with what you actually get, the so-called value.
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