On January 21, 2023, the bitcoin price reached a 24-hour high of $23,333 per unit at 5 am ET on Saturday. The entire crypto economy is now valued at $1.05 trillion after rising 7.2% against the US dollar. Bitcoin's price surge has led to the crypto asset's dominance level exceeding the 40% region among thousands of crypto assets, as the digital currency's market valuation has risen to $443 billion.
Bitcoin value surges 37.2% in 30 days, raising dominance level above 40%
Bitcoin jumped above the $23,000 zone on January 21 and the value of the crypto asset is now 37.2% higher than it was 30 days ago. The increase has pushed BTCThe mastery level of above the 40% region. According to data from coinmarketcap.com (CMC), BTCThe dominance level of 's on January 21 is around 42.4%.
The dominance level of the leading crypto asset surpassed the 40% region after the first week of January 2023. Cryptoeconomics aggregator coingecko.com (CG) indicates that bitcoin dominance is around 41.1% on January 21. January. Bitcoin dominance is the digital currency's market capitalization divided by the total market valuation of the crypto economy.
From 2009 to 2017, BTCThe mastery level remained above the 80% range. But after falling below 80%, the mastery level never returned to that position. Time BTCToday's dominance is around 41-42%, CG metrics show the second leading crypto asset ethereum (ETH), has a dominance level of about 18.4%.
The CMC data suggest ETHThe domain of is about 19.3% of the $1.05 trillion of US dollar value. Other major dominant players in January 2023 include Tether (USDT) as it has a market dominance of 6.33%, and Binance Coin (bnb) has a dominance level of around 4.57%.
The USDC stablecoin has a level of market dominance of around 4.13%, and XRP's is about 1.99%, according to CMC statistics as of Saturday afternoon at 11:30 am ET. Between BTC, ETH, USDT, bnbUSDC, and XRPthe dominance level of the six coins is around 78.72% on January 21. The last time BTCDominance was this high six months ago in mid-July 2022.
What do you think will be the next big development in the crypto market and how will it affect bitcoin dominance levels? Share your thoughts on this topic in the comments section below.
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