- Bitcoin makes up about 48% of the entire 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. In consequence, Bitcoin is up +77.60% YTD, a outstanding efficiency in simply 4 months.
Different cryptocurrencies took the lead from Bitcoin. As such, the whole market bounced, as mirrored by the entire 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 traders regain confidence within the crypto house after the FTX scandal and different frauds.
However moreover Bitcoin, what different cryptocurrencies are favored by traders? Two stand out of the gang: Ethereum and Tether.
Ethereum and Tether hold tempo with Bitcoin
The chart above exhibits the entire 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, equivalent to USD Coin or Solana. Even Binance Coin misplaced share, sitting at 4.31% at present.
The chart exhibits that solely two cryptocurrencies hold tempo with Bitcoin – Ethereum and Tether. Ethereum’s share remained secure even through the bearish market of 2022. The identical with Tether.
The three comprise about 75% of the entire cryptocurrency market capitalization – an excellent statistic to think about subsequent time when investing in cryptocurrency.
