Nom Terra LUNA Fallout klëmmt d'Bitcoin Dominanz méi héich wärend d'Bewäertung vun der Ethereum schrumpt - Maartupdates Bitcoin Neiegkeeten

Following the Terra LUNA and UST fallout, digital currency markets have dropped in value as the crypto economy dropped 6.93% from $1.356 trillion on May 22, to today’s $1.262 trillion. Amid the market carnage, bitcoin’s market dominance has increased to 43.8%, reaching the highest value since October 30, 2021. Moreover, ethereum’s market dominance has slid from 19.56% on April 16, to today’s 17.1%.

Bitcoin Dominance Reaps Rewards from Terra’s Demise

• Bitcoin (BTC) dominance among the 13,445 crypto market caps in existence today is 43.8%, the highest it has been in roughly 209 days, since October 30, 2021. The rise in market dominance follows the recent Terra blockchain fiasko that caused a significant amount of value to leave the crypto economy.
• For example, amid LUNA’s and UST’s death spiral and the crypto market carnage on May 10, 2022, archivéiert Donnéeën beweist BTC dominance was 39.4%, while Ethereum (ETH) dominance was 18.4%. On that day, BTC was changing hands for $30,118 and ETH was swapping for $2,225 per unit.

• The spike on October 30, 2021 was a brief BTC dominance rise to 44%, as dominance hit a low of 40% a month prior, during the first week of September 2021. Prior to the October 30 BTC dominance level, August 21, 2022 was the last time BTC was in the same range in terms of dominance among the 13,445 crypto market caps.
• In terms of dominance, BTC Beats ETH in not only market capitalization today, but also daily Handelsvolumen and 24-hour mining reward revenue.

Revised chart for #Bitcoin market dominance. ?

After removing stablecoins, this thing appears to have broken out already.

Key levels on the chart.

Altcoin will bleed… pic.twitter.com/X3pPqY5dmF

— Duo Néng | YCC (@DU09BTC) Mee 26, 2022

• As ETH dominance sinks and BTC dominance rises, a number of other alternative assets have faltered in value and have lost significant market cap dominance.
• For example, on September 4, 2021, XRP’s dominance was 2.53% and today XRP dominance is only 1.51%. One alternative crypto asset that has seen its dominance rise is tether (USDT) als USDT’s market valuation dominance was above 3% on September 4, 2021, and today it’s 5.78%.

What do you think about bitcoin’s dominance increasing and ethereum’s dominance decreasing after Terra’s demise? Let us know what you think about this subject in the comments section below.

Vum Jamie Redman

Jamie Redman ass den News Lead bei Bitcoin.com News an e Finanztech-Journalist, deen a Florida wunnt. Redman ass en aktive Member vun der Krypto-Währungsgemeinschaft zënter 2011. Hien huet eng Passioun fir Bitcoin, Open-Source Code an dezentraliséierter Uwendungen. Zënter September 2015 huet Redman méi wéi 5,000 Artikele fir Bitcoin.com News geschriwwen iwwer déi disruptive Protokoller déi haut entstinn.

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