Bitcoin
BTC$16 874.70

3.65%

Ethereum
ETH$1 266.25

6.98%

Tether
USDT$0.999728

0.01%

Binance Coin
BNB$296.30

-0.06%

USD Coin
USDC$0.999939

-0.03%

Binance USD
BUSD$1.000196

0.03%

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 59.2% 81 $16 874.70 3.65% 1.89% $324 337 050 706 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.6% 79 $1 266.25 6.98% 8.69% $154 955 601 290 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $0.999728 0.01% 0.07% $65 344 934 206 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 68.4% 65 $296.30 -0.06% 8.15% $47 398 738 411 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $0.999939 -0.03% -0.04% $43 268 973 600 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $1.000196 0.03% -0.09% $22 374 674 909 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 66% 66 $0.401945 4.59% 6.55% $20 213 805 129 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 57.2% 85 $0.106316 5.04% 30.08% $14 104 970 590 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 60.4% 81 $0.313237 1.61% -1.08% $10 787 813 925 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 64.8% 72 $0.859004 3.26% -0.55% $7 502 809 463 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 65.6% 67 $5.39 4.32% -0.09% $6 145 246 302 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 91.2% 1 $0.999629 -0.07% -0.19% $5 639 262 730 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 66% 74 $78.44 3.69% -3.79% $5 626 037 116 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 66.4% 66 $0.053898 1.37% 5.61% $5 480 160 672 WTRX 7 days price change

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