Bitcoin Dominance (BTCD) Drops to Lowest Since 2018

The Bitcoin (Btc.d) market dominance index has just dropped to a 2021 low and is currently at 39.73% according to TradingView.

The move was noticed by Jason Choi of Spartan Group, who tweeted the rankings on January 4.

It is in stark contrast to Bitcoin’s dominance at the same time last year when Btc.d hit 73.6% on January 3, 2021. Since that time Btc.d has dropped 46% to its current levels.

Bitcoin dominance lowest since 2018

According to TradingView, Btc.d dropped to 39.48% on January 3. The last time Btc.d fell that low was in May 2018 when it dropped to around 39.18%.

In September 2021, BTC dominance also dropped below 40% before recovering.

This value was as low as January 11, 2018, when it dropped to around 35.5% after the major altcoin rally.

Low BTC dominance is often a signal that altcoins will begin to recover.

Ethereum’s market share has been steadily increasing since January 2020 and is currently 20.23% according to TradingView. ETH dominance hit a peak of 22.35% in early December but has been decreasing since then.

BTC and ETH combined make up about 60% of the total crypto market, less than Bitcoin’s market share in March 2021.

Outside of altcoins, stablecoins account for 7.15% of the total market capitalization, according to CoinGecko. High-cap altcoins like Binance Coin (BNB), Solana (SOL) and Cardano (ADA) have also increased their percentage of market share with 3.67%, 2.22% and 1.80% respectively.

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