The share of altcoins such as Ethereum in the total market capitalization of cryptocurrencies has increased to seven percent.
The dominance of Bitcoin in the world of cryptocurrency has started to decline. In May this year, the share of this bitcoin had reached the lowest level. At present, the market capitalization of bitcoin is $ 940 billion. On December 9, 2021, bitcoin’s stake in this is 39.38 percent. While its share in the cryptocurrency market capitalization was 70 percent in January.
Investors Are Turning To Altcoins
According to data from CoinMarketCap, bitcoin accounted for 39.16 percent of the cryptocurrency market capitalization of $1.8 trillion in May 2019. In place of bitcoin, now Altcoin i.e. different cryptocurrencies that have appeared as an alternative to Ethereum (Ethereum), Solana (Solana), Cardano, USD Coin, Terra is increasing investment. The share of Ethereum in the total market capitalization of cryptocurrencies has increased to seven percent.
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Apart from Ethereum, the share of other cryptocurrencies also increased
Vikram Subburaj, CEO and co-founder of Giottus Cryptocurrencies Exchange, said that as the cryptocurrency market matures, Altcoins will no longer have to rely on the performance of Bitcoin for their performance. The price of bitcoin is now stabilizing. Therefore, investors are moving towards Altcoin. This is the reason why the share of bitcoin in the cryptocurrency market capitalization is decreasing. According to the data of 23 December 2021, the market capitalization of cryptocurrencies of Binance Coin, Tether, Solana, XRP, Cardano, USD Coin, Terra has been 4, 3.5, 2.4, 1.7, 1.9, 1.9 and 1.1 percent respectively.
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