Bitcoin Dominance Rises, ETH Market Share Slips, Stablecoins and Smart Contracts Rise – Market News

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As of Wednesday, the crypto economy of 12,620 coins spread across 543 exchanges sits just above the $2 trillion mark. Since the collapse of the crypto-economy market, bitcoin’s market dominance among all existing coins has slowly moved from the 37% zone to the 38% range. Meanwhile, Ethereum’s market dominance has declined from 18.6% to 17.7% since January 6.

Bitcoin and Ethereum Dominance Shifts, Top Stablecoin and Smart Contract Tokens Command Over 44% of $2 Trillion Crypto Economy

The market dominance of Bitcoin (BTC) has increased while the crypto-economy dominance of Ethereum (ETH) has declined over the past two weeks. Market dominance is the overall valuation of the crypto asset relative to the entire $2.08 trillion crypto market economy.

Bitcoin, Ethereum and other dominance levels mentioned in this article were recorded on January 19, 2022 at 1:55 PM (EST) via coingecko.com metrics.

On January 6, 2022, BTC dominance slipped to its lowest position in three years (37.7%) since June 3, 2018. The metric moved to the region of 38% while market dominance of Ethereum fell from 18.6% to 17.7%.

A myriad of other coins have seen changes in market dominance and the crypto-asset coin (BNB) has a market dominance rating (MDR) of around 3.37%. Tether (USDT) commands an MDR of 3.35% and cardano (ADA) at 2%.

The MDR of the stablecoin USDC is today 1.95% and the market valuation of Solana (SOL) is 1.85%. The market capitalization of the distributed ledger technology token xrp (XRP) represents 1.51% of the current crypto market economy.

After XRP, it is the market valuation of terra (LUNA) that commands 1.22% of the crypto economy, and that of polkadot (DOT) 1.03%. The $173 billion in stablecoins represent 8.30% of the crypto economy and the $738 billion in smart contract platforms represent 35.36% of the value of all coins in existence today.

As of Wednesday, the $11.8 billion in privacy coins represents around 0.56% of the net worth of the crypto economy. Meme coins, however, make up 2.15% of the digital currency economy at $45 billion.

Tags in this story Bitcoin (BTC), bitcoin dominance, BTC, crypto assets, crypto economics, Crypto markets, Dominance, ETH dominance, Ethereum, Ethereum (ETH), Market caps, Market dominance, Stock valuations, Markets, markets and price, meme coin dominance, Price, privacy coin dominance, smart contract token dominance, stablecoin dominance, Tokens

What do you think of the changes in Bitcoin and Ethereum market dominance over the past two weeks? What do you think of the 44% of the total value of stablecoins and smart contract tokens that represents today? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News about disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons

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