Bitcoin
BTC$20 277.35

-2.12%

Ethereum
ETH$1 145.31

-3.04%

Tether
USDT$0.998764

-0.01%

USD Coin
USDC$1.000530

0.03%

Binance Coin
BNB$224.81

-4.04%

Binance USD
BUSD$1.000787

0.10%

Bitcoin market dominance falls to three-year low of 40%


17 May 2021

#Bitcoin

Altcoins have risen to a three-year dominance high after tagging a record combined capitalization of nearly $1.5 trillion last week. While Bitcoin tumbles in response to Elon Musk’s Twitter account yet again, altcoin dominance has surged to its highest level in roughly three years.

As of this writing, Bitcoin represents 40.3% of the combined crypto asset capitalization — the lowest it has been since June 2018, according to CoinMarketCap. Bitcoin hit a market dominance low of 33% in January 2018 when it was cooling from its previous peak while the altcoins were just hitting theirs. It is currently not far off its second lowest level of 36%, three years ago in May 2018.

Bitcoin dominance: CoinMarketCap

The combined capitalization of altcoins is currently sitting at $1.25 trillion after establishing all-time highs of almost $1.5 trillion last week. Ethereum has recently seen its dominance surge, with Ether’s capitalization creeping up to roughly half of Bitcoin’s to represent a crypto market dominance over 19%. Ether also represents 32% of the combined altcoin market cap.

Binance Coin ranks third, representing 4% of total crypto capitalization, followed by Cardano with 3.3%, and Dogecoin with 3%. By contrast, Binance Coin exerts a 6.7% dominance over the altcoins markets, with Cardano’s dominance coming in at 5.5%, and Dogecoin representing 5%.

Elon Musk may have deepened Bitcoin’s loss of dominance by hinting that Tesla may be offloading its BTC holdings in a May 17 tweet, triggering a 15% crash over 18 hours. While Bitcoin is now down 35% from its April 14 all-time high, several altcoins have seen weaker pullbacks, with Ethereum currently down 24% from its May 12 peak of $4,350 on May 12. Some markets are rallying in spite of the bearish meta-trend, with Cardano rallying to tag all-time highs of $2.45 on May 16.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 56.4% 92 $20 277.35 -2.12% -0.29% $386 889 430 746 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 57.6% 90 $1 145.31 -3.04% 4.85% $138 969 035 870 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.998764 -0.01% -0.03% $66 742 331 401 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000530 0.03% 0.05% $55 832 163 481 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 56.8% 89 $224.81 -4.04% 4.38% $36 706 159 546 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $1.000787 0.10% 0.21% $17 397 351 213 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 63.2% 80 $0.335982 -2.23% 4.31% $16 242 394 323 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 66% 75 $0.471136 -2.23% 1.44% $15 987 555 258 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 67.6% 66 $35.51 -5.44% 2.11% $12 172 607 058 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62.8% 80 $0.066802 -4.36% 6.01% $8 862 682 263 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 63.2% 78 $7.30 -3.42% -2.45% $7 213 387 817 DOT 7 days price change
12 Dai (DAI) DAI Dai predictions 94.4% 1 $1.000157 0.01% 0.09% $6 718 514 631 DAI 7 days price change
13 TRON (TRX) TRX TRON predictions 58.4% 91 $0.065880 0.37% 2.62% $6 093 590 634 TRX 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 66.4% 74 $0.000010 -7.02% 4.64% $5 528 798 046 SHIB 7 days price change
15 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 71.6% 50 $5.75 -1.33% -2.42% $5 482 403 972 LEO 7 days price change

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