Hassan Maishera
TL;DR
-
Bitcoin continues to trade above the $34k level as the market stabilizes.
-
Bitcoin’s dominance soars above 54%, its highest in 30 months.
Bitcoin’s Market Dominance Tops 54%
Bitcoin’s market dominance has hit a fresh 30-month high following its recent rally. The world’s leading cryptocurrency by market cap has added more than 20% to its value in the last seven days, outperforming numerous altcoins in the process.
At press time, the price of Bitcoin stands at $34,714, up by nearly 2% in the last 24 hours. Bitcoin's crypto market share surged to 54.4% a few hours ago, its highest level since April 2021. At the moment, Bitcoin’s total market cap stands at $678 billion.
Ether, the second-largest cryptocurrency by market cap, has also seen its market share stand around the 17% region in recent months. Ether’s total market cap currently stands at $220 billion, and the coin is trading at $1,822.
Bitcoin and Ether account for more than 70% of the total cryptocurrency market cap. At the moment, the total cryptocurrency market cap stands at $1.27 trillion, up by nearly 1% so far today.
Dogecoin, Shiba Inu, and Avalanche are the three top performers amongst the top 20 cryptocurrencies by market cap. They have each added more than 7% to their values over the last 24 hours and are outperforming the broader cryptocurrency market.
