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.
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