[Crypto] Definition of BTC Dominance
BTC Dominance is often used as a metric by cryptocurrency traders.
What is BTC Dominance? What does this have to do with altcoins? How to read metrics and how to use them to trade? See more in this article.
What we will explain:
BTC dominance is a measure of the ratio between Bitcoin's market capitalization and the overall capitalization of crypto assets.
Bitcoin over the years has maintained its dominance in the crypto asset market cap. However, bitcoin's dominance in the market is decreasing due to the number of new coins, starting with the Ethereum blockchain and erc-20 token standard.
How to read or calculate BTC Dominance is very simple, the total market capitalization value of Bitcoin is divided by the total market capitalization of all crypto assets.
Example: The value of all crypto assets is $1000 billion and bitcoin's market capitalization is $600 billion, hence the value of BTC Dominance is 60%.
Read : [Crypto] Synthetix Identification
In 2013 Bitcoin had no challengers. At that time BTC Dominance reached 94%.
In 2017 BTC Dominance experienced a very far-reaching change of about 85.4%. In February 2017 BTC Dominance was about 5.7% filled with the total market capitalization of crypto assets filled by ETH.
In June, BTC Dominance suffered a very sharp drop to 40% with liquidity moving to ERC-20 tokens.
At the time, the Ethereum community was trending flippening. "Flippening" is a prediction that the capitalization value of Ethereum can outperform the capitalization value of Bitcoin.
(BTC) Bitcoin Dominance is a metric for assessing altcoin performance to Bitcoin.
If the value of BTC Dominance increases, the value of altcoin assets will automatically decrease (downtrend) against BTC. If the value of BTC Dominance decreases, automatically the value of altcoin assets will increase (uptrend) against BTC.
How, already understand about how to calculate BTC Dominance and its relationship to altcoin performance?
What is BTC Dominance? What does this have to do with altcoins? How to read metrics and how to use them to trade? See more in this article.
What we will explain:
- Meaning BTC Dominance?
- How to Read BTC Dominance?
- History of BTC Dominance
- Btc Dominance effects altcoins.
Meaning BTC Dominance?
BTC dominance is a measure of the ratio between Bitcoin's market capitalization and the overall capitalization of crypto assets.
Bitcoin over the years has maintained its dominance in the crypto asset market cap. However, bitcoin's dominance in the market is decreasing due to the number of new coins, starting with the Ethereum blockchain and erc-20 token standard.
How to Read BTC Dominance?
How to read or calculate BTC Dominance is very simple, the total market capitalization value of Bitcoin is divided by the total market capitalization of all crypto assets.
Example: The value of all crypto assets is $1000 billion and bitcoin's market capitalization is $600 billion, hence the value of BTC Dominance is 60%.
Read : [Crypto] Synthetix Identification
History of BTC Dominance
In 2013 Bitcoin had no challengers. At that time BTC Dominance reached 94%.
In 2017 BTC Dominance experienced a very far-reaching change of about 85.4%. In February 2017 BTC Dominance was about 5.7% filled with the total market capitalization of crypto assets filled by ETH.
In June, BTC Dominance suffered a very sharp drop to 40% with liquidity moving to ERC-20 tokens.
At the time, the Ethereum community was trending flippening. "Flippening" is a prediction that the capitalization value of Ethereum can outperform the capitalization value of Bitcoin.
Btc Dominance effects altcoins.
(BTC) Bitcoin Dominance is a metric for assessing altcoin performance to Bitcoin.
If the value of BTC Dominance increases, the value of altcoin assets will automatically decrease (downtrend) against BTC. If the value of BTC Dominance decreases, automatically the value of altcoin assets will increase (uptrend) against BTC.
How, already understand about how to calculate BTC Dominance and its relationship to altcoin performance?
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