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HomeCrypto NewsResearch shows Altcoins' market share has increased threefold since 2014

Research shows Altcoins’ market share has increased threefold since 2014

This week, bitcoin’s market dominance among the market capitalization of all 12,046 crypto assets in existence has been hovering above 38%, while ethereum’s overall valuation commands 19% dominance. A report published on Monday shows that since 2014, the market share of altcoins surged threefold from 21% in 2014, to today’s market share of 62%.

Altcoins are ‘Making Ground for Bitcoin’ according to a Report
Edith Reads, author of tradingplatforms.com’s report, shows that altcoins’ value has increased over the past seven years. According to Edith Reads, tradingplatforms.com published a report that shows that altcoins have seen a rise in value over the past seven years. On February 26, 2017, BTC had a market dominance rating of 86% and it’s never returned to above the 80% range since that day.

The author of tradingplatforms.com explains that “Since 2014,, the market share for Altcoins have been on an upward trajectory.” Reads notes that as of December 9, 2021, altcoins represented 62% of the market share. This represents a tripling in their dominance over the past seven years. They’ve surged threefold from a market share of 21 percent to stand at the current 62 percent figure,” Reads’ study adds.

This report continues to share the growing altcoin market and increasing interest in altcoins. Reads states that altcoins are showing a shift in how they are viewed. Many are using them as an alternative to BTC. The researcher at tradingplatforms.com notes that BTC’s dominance in the crypto space will be under increasing pressure as it develops.

Study Author Says “Market Cap is a Critical Factor in Crypto Ranking”
According to the author, market share dominance is an important factor. However, BTC’s market share has been falling. The study highlights that December 2014, [BTC’s] market value was 78 %. “But that position has continued to erode to stand at 38 percent at the study’s publication.” Reads further opined:

Market dominance is a key factor in crypto ranking. It usually translates into higher market caps. Crypto ranking is determined by market cap. As cryptos are less volatile, large caps indicate safer investment options. It is a measure of how stable an asset is.

Today there are more than 12,000 crypto-assets in existence that have a recorded price value according to coingecko.com metrics. While ethereum (ETH) commands 19.1% of the $2. 54 trillion, many other coins have decent shares of the overall crypto economy as well. BNB holds a market dominance rate of 3. 64% and the stablecoin tether (USDT) has around 3.06%. Solana (SOL), which is the fifth-largest cryptocurrency market cap today, has 2. 45% of the $2. 54 trillion and cardano (ADA) commands 1. 97% the crypto economy.

Tradingplatforms.com’s study reveals that altcoins have some advantages over BTC, including the ability to gain ground in the [decentralized finance] industry. Reads also stated that BTC deals with a lot more people who care about the environment. Reads also mentioned that Elon Musk was a vocal critic.

This story contains tags

Altcoin Dominance and Altcoins, Altcoins (BTC), Bitcoin Dominance. bnb. BTC, BTC Dominance. coingecko.com crypto assets, crypto economy. decentralized finance. Edith Reads. ETH, ETH dominance. Ethereum, Ethereum Dominance. report, study. tradingplatforms.com

What are your thoughts on the tradingplatforms.com survey and Edith Reads’ views regarding the crypto market share dominance? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News, is Jamie Redman. Redman has been an active participant in the cryptocurrency community since 2011.. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!
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