Bitcoin Dominance Increases, ETH’s Market Share Slides, Stablecoin and Smart Contract Coins Rise – Market Updates Bitcoin News

This Wednesday’s crypto economy was just over $2 trillion. It includes 12620 coins on 543 exchanges. 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.

Blockchain and Ethereum Dominance shifts, Top Stablecoins and Smart Contract Tokens Control More Than 44% Of the $2 Trillion Crypto Ecosystem

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 $2.08 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%.

Market dominance has changed for many other coins. The crypto asset binance (BNB), which is a cryptocurrency asset, currently holds a MDR of about 3.37%. Cardano (ADA) is at 2% while Tether (USDT), commands a MDR of 3.35%.

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%. Stablecoins worth $173 billion represent 8.30% in the crypto economy, while smart contract platforms worth $738 billion are 35.36%.

The $11.8 billion in privacy coins is around 0.56% of the crypto economy’s net worth on Wednesday. Meme coins command only 2.15%, or $45 billion, in the digital currency market.

How do you feel about recent shifts in bitcoin and ethereum’s market dominance? How do you feel about today’s 44% aggregate value of smart contract tokens and stable coins? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for Bitcoin.com News, with over 5,000 articles on disruptive protocols.