On Wednesday, the crypto economy of 12,620 coins across 543 exchanges is hovering just above the $2 trillion mark. Ever since the crypto economy’s market slump, bitcoin’s market dominance among all the coins in existence has slowly risen from 37% zone back over the 38% range. Meanwhile, Ethereum’s market dominance has diminished as it has slid from 18.6% to 17.7% since January 6.
Bitcoin and Ethereum Dominance Shifts, Top Stablecoin and Smart Contract Tokens Command More Than 44% of the $2 Trillion Crypto Economy
Bitcoin’s (BTC) market dominance has increased while ethereum’s (ETH) crypto-economy dominance has decreased over the last two weeks. Market dominance is the crypto asset’s overall valuation compared to the entire .08 trillion crypto market economy.
On January 6, 2022, BTC’s dominance slid to its lowest position in three years (37.7%) since June 3, 2018. The metric has increased to the 38% region while ethereum’s market dominance dropped from 18.6% to 17.7%.
A myriad of other coins have seen market dominance changes and the crypto asset binance coin (BNB) has a market dominance rating (MDR) of around 3.37%. Tether (USDT) commands an MDR of 3.35% and cardano (ADA) has 2%.
The stablecoin USDC’s MDR today is 1.95% and solana’s (SOL) market valuation is 1.85%. The distributed ledger technology token xrp’s (XRP) market cap represents 1.51% of today’s crypto market economy.
Following XRP, is terra’s (LUNA) market valuation which commands 1.22% of the crypto economy, and polkadot’s (DOT) 1.03%. The 3 billion worth of stablecoins represent 8.30% of the crypto economy and the 8 billion worth of smart contracts platforms is 35.36% of the value of all the coins in existence today.
The .8 billion in privacy coins is around 0.56% of the crypto economy’s net worth on Wednesday. Meme coins, however, command 2.15% of the digital currency economy with $45 billion.
What do you think about the bitcoin and ethereum market dominance shifts in the last two weeks? What do you think about the 44% in aggregate value stable coins and smart contract tokens represent today? Let us know what you think about this subject in the comments section below.