Bitcoin Dominance Rate Hits 50% For First Time in 2018

Bitcoin now makes up 50 percent of the entire cryptocurrency market capitalization.

Shortly past 03:00 UTC on August 11, CoinMarketCap's bitcoin dominance rate - an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency - reached 50 percent for the first time since December 19th, 2017.

At press time, bitcoin's market capitalization now records $105,785,552,545, which is about $901 million more than the market capitalization of every other cryptocurrency combined.

The above chart shows bitcoin's dominance rate has been on a steady incline over the past few months, currently representing a 14 percent increase from May 1st. In the same time period the market dominance of all other cryptocurrencies have largely been on the decline.

Conditions were much different the last time bitcoin's market dominance was above 50 percent.

81 across exchanges - an 65 percent higher price than the cryptocurrency's value today, according to the CoinDesk Bitcoin Price Index.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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