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Bitcoin makes up about 48% of the whole cryptocurrency market capitalization
The share rises to 75% if we embody Ethereum and Tether
Different cryptocurrencies’ share declined regardless of the newest cryptocurrency market rally
The cryptocurrency market bounced in 2023 and rallied proper from the beginning of the buying and selling 12 months. Consequently, Bitcoin is up +77.60% YTD, a exceptional efficiency in simply 4 months.
Different cryptocurrencies took the lead from Bitcoin. As such, all the market bounced, as mirrored by the whole crypto market capitalization. By the top of 2022, it dropped to $755 billion following a bearish market however now reached $1.16 trillion.
It signifies that buyers regain confidence within the crypto area after the FTX scandal and different frauds.
However in addition to Bitcoin, what different cryptocurrencies are favored by buyers? Two stand out of the group: Ethereum and Tether.
Ethereum and Tether maintain tempo with Bitcoin
The chart above exhibits the whole crypto market capitalization dominance in percentages. Unsurprisingly, Bitcoin leads with 48.58%.
Its share rose from 40% on the finish of 2023, within the detriment of different cryptocurrencies, corresponding to USD Coin or Solana. Even Binance Coin misplaced share, sitting at 4.31% at the moment.
The chart exhibits that solely two cryptocurrencies maintain tempo with Bitcoin – Ethereum and Tether. Ethereum’s share remained secure even in the course of the bearish market of 2022. The identical with Tether.
The three comprise about 75% of the whole cryptocurrency market capitalization – an excellent statistic to contemplate subsequent time when investing in cryptocurrency.
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