1 origin of bitcoin dominance index. This index offered by coinmarketcap measures bitcoin s market capitalisation market cap compared to the overall market for these digital assets. The bitcoin dominance index is a metric that traders can use to quickly get a sense of bitcoin s value relative to that of the broader digital currency market.
The market capitalization of a single coin is simply its price multiplied by its circulating supply. We can prove this by doing the following calculations. This means that the total value of bitcoin takes up 37 2 of the entire market.
What is bitcoin dominance in relation to total market capitalization. If you ve just started diving deep into the blockchain universe you ve probably come across the term bitcoin dominance at one time or another. Expressed as a percentage of total blockchain market capitalization.
The ratio of bitcoin to all other cryptocurrencies. During prolonged market shifts it can also highlight whether demand for bitcoin is staying above that of the cryptocurrency market average. Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to bitcoin btc.
For many years bitcoin was the only coin in the market or at least one of very few meaning that its dominance was near enough 100. Bitcoin dominance reflects how much of the total cryptocurrency market cap belongs to bitcoin compared to other coins in the market essentially bitcoin s market share. Total market capitalization is 148 74 b.
The btc price is 8 259 63. According to coinmarketcap btc now dominates 66 45 of the market. Bitcoin dominance is a percentage of the total cryptocurrency market capitalization attributable to bitcoin.
