Bitcoin and Ethereum have 75% of the total capital of the cryptocurrency market. The amount of cryptocurrencies on the market surpasses 8,400.
The increase of the cryptocurrency market continues at a constant pace. Currently, only with bitcoin (BTC) and Ethereum’s native cryptocurrency, Ether (ETH), there is already a capitalization of more than a trillion dollars. That is, more than USD 1,000,000,000,000 between both currencies’ circulations.
With BTC floating around $ 48,000 and ETH over $ 1,700, the total capital between the two significant cryptocurrencies is close to $ 1.1 trillion, according to CoinMarketCap data.
The more than 18 million bitcoins currently circulating in the market are equivalent to a sum that circles $ 889 billion. Simultaneously, Ether’s current supply, of about 114 million, yields a total capitalization of more than $ 200 billion.
The domination of both currencies in the total market capitalization is a fact. With more than 8,400 cryptocurrencies listed on CoinMarketCap, the market barely reaches $ 1.44 trillion. In other words, only between BTC and ETH is 75% of the capital of this market.
After the leading cryptocurrencies, the picture is very different: only the stablecoin tether (USDT), an asset that maintains a 1: 1 parity with the dollar, exceeds 30,000 million dollars in capitalization. And only up to the top 10 do we find coins above 10,000 million.
Currently, bitcoin positions itself among the ten most valuable assets in the world. Bitcoin is protecting under its wings the shares of Tesla, Facebook, Visa, Paypal, and MasterCard.
Although to a lesser extent, ETH is also beginning to appear on the world’s heavyweights. The Ethereum cryptocurrency currently ranks 53rd among the most valuable assets in CompaniesMarketCap data. It has already surpassed other vital companies like AT&T, the pharmaceutical company Pfizer. This phenomenon places Ether as one of the most significant cryptocurrencies out there.
Strength of Altcoins Can Counter Bitcoin?
Bitcoin is domaining the market (that is, control over the total capitalization of cryptocurrencies) and remains above 60%. And this phenomenon occurs even though most of the major altcoins have outpaced the rise of bitcoin in percentage terms in recent weeks.
The morning of this Thursday, February 11, an index tended to compare bitcoin and the top 50 of altcoins points due to the latter’s dominance against BTC.
According to records from blockchaincenter.net, Altcoins own this month. In the lasts 30 days, more than 80% of the other cryptocurrencies have risen more than BTC. This percentage looks promising.
However, the situation remains the same: bitcoin by far keeps reigning over the market widely. With More than 8,400 cryptocurrencies, and by gathering the value of all of them together, it just covers a little more than half of a single one (BTC). Bitcoin remains the most suitable cryptocurrency in the crypto world.
By: Jenson Nuñez
