What the heck is Bitcoin Dominance? Are we juxtaposing it to USD or Altcoins? We are now at 52%, what does that mean?
0 sats \ 2 replies \ @birdeye21 29 Jun 2023
It's Bitcoin's % share of the market relative to altcoins. It's at 52%, and as you can see from the chart I included, it's been gaining dominance over the altcoin market throughout 2023.
This chart also includes stablecoins, like USDT USDC DAI etc.
Without stablecoins -- which add market cap to the "altcoin" market -- true Bitcoin dominance is around 56%
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0 sats \ 1 reply \ @Uniky OP 1 Jul 2023
Does 100% dominance entails no one is buying altcoins at all?
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0 sats \ 0 replies \ @birdeye21 1 Jul 2023
Essentially, because there would be no altcoins in that scenario.
Bitcoin would “dominate” 100% of the market.
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