For the first time since December 19th 2017, Bitcoin (BTC) now makes up 50 percent of the entire crypto market capitalization.
CoinMarketCap’s is an indicator that tracks the percent of the total crypto market capitalization contributed by the leading cryptocurrency – of which bitcoin Now leads with 50%.
At the point of writing this, bitcoin’s market capitalization now records $105,785,552,545, which is about $901 million more than the market capitalization of every other cryptocurrency combined.
From the chart above it shows how bitcoin’s dominance rate has been on a steady incline over the past few months, currently representing a 14 percent increase from May 1st. In the same time period the market dominance of all other cryptocurrencies have largely been on the decline.
Conditions were much different the last time bitcoin’s market dominance was above 50 percent.
Last year Dec. 19th the average price of BTC was $17,605.81 across exchanges – an 65 percent higher price than the cryptocurrency’s value today.
This only proves that Bitcoin leads while others follows.