Bitcoin’s Dominance Index has slid 10% from a high of 67% on May 10, to a low of 57% today. Despite the defi market shakeout, ethereum still captures 10% of the aggregate market capitalization of $330 billion.
There’s been a number of changes in the top ten line up of coins, as bitcoin (BTC) has been losing dominance since May 10. Market dominance is the measurement of the top coins, in terms of market valuation, compared to the aggregate of all 6,700+ crypto coins.
BTC has consistently commanded the top dominance level in the cryptocurrency economy and today it’s about 57% of the market value. That’s 10% lower than it was in mid-May, as bitcoin (BTC) has slid consecutively downwards for the past 118 days.
Within the hundred-day time frame, ethereum (ETH) has been the force eating away at BTC’s dominance level. Presently, ETH captures 10% of the crypto economy’s valuation. This is after the intense market-beating ETH and it’s myriad of ERC20 token offspring took on Saturday.
In fact, during the beginning of last week…