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Bitcoin dominance in the market reached its lowest level in 7 months


Simultaneously with the decrease in the price of bitcoin and the increase in the price of altcoins in relation to this digital currency, the dominance of bitcoin in the digital currency market reached its lowest level in the last 7 months.

to the Report Decrypt, the price of Bitcoin is in the range of $ 58,300 after the dominance of this digital currency reached its lowest level in the last 7 months.

Bitcoin in the early days of 2021 had managed to reach a dominance of 72%; Since then, we have seen a decline, and now Bitcoin has a market share of 56.27%; This means that other digital currencies now have the opportunity to make money again. Market dominance represents the share of the market value of a digital currency relative to other currencies.

Bitcoin market dominance chart
Bitcoin market dominance chart

The price of Ethereum, the No. 2 digital currency on the market, reached $ 2,000 yesterday and has since reached a new all-time high. The Ethereum price hit a high of $ 2,036 on February 20 ($ 2); But this peak did not last long and was accompanied by a decrease. Yesterday, however, Ethereum peaked at $ 2,152 and is currently trading at $ 2,040.

Among the top 20 digital currencies on the market, Polkadot, Ripple, UniSwap, Chainlink and BitTorrent recorded the most jumps in their names.

The price of Polkadot rose by 20% to $ 46, which was the highest price growth among the top 10 digital currencies in the market. The leap came three days after Kraken Exchange CEO Jesse Powell said in a statement that Polkadot could replace Ethereum with lower fees. Powell said in part that network fees rose from $ 13 to $ 22 a day as demand increased.

During the same period, Chainlink rose 6 percent to $ 32.44. At present, the price of Chainlink has dropped to $ 29. Uniswap jumped 8% to 31.42 and is currently in the $ 29.9 range. Ripple is currently priced at $ 0.5. In recent days, this digital currency has managed to reach the levels it was at before the US Stock Exchange Commission filed a complaint.

BitTorrent was one of the other digital currencies that was able to break its historical peak and go up to $ 0.007778. BitTorrent is currently trading at $ 0.0076, up 91% from last week.

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