#Bitcoin Dominance Is Crashing -- Here's Why

September 29, 2018

 

Bitcoin dominance — bitcoin's share of the total cryptocurrency market capitalization — has been in freefall in the second half of this month after hitting year-to-date highs in mid-September.

Bitcoin's contribution to the total cryptocurrency market capitalization has dropped to just above 50%, down from almost 60% earlier in the month (according to CoinMarketCap data), as other major cryptocurrencies experience a revival, boosted by big wins for ripple (XRP), bitcoin cash, and litecoin.  In August, bitcoin dominance hit 50% for the first time this year, after beginning 2018 at some 37%, as many of the so-called altcoins that had surged throughout 2017 were heavily sold off.

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