Market Share of Altcoins Surged Threefold Since 2014: Study

This week, bitcoin’s market dominance among the market capitalization of all 12,046 crypto-assets in existence has been hovering above 38%, while ethereum’s overall valuation commands 19% dominance. A report published on Monday shows that since 2014, the market share of altcoins surged threefold from 21% in 2014, to today’s market share of 62%.

Report Says ‘Tide Is Turning,’ Altcoins Are ‘Making Ground on Bitcoin’

Altcoins have risen in value over the previous seven years, according to research issued by tradingplatforms.com and author Edith Reads. According to the author’s research, “the tide is shifting” and cryptocurrencies are “gaining ground on BTC as their popularity soars.” It is commonly known that, from bitcoin’s introduction, BTC has had a market share of more than 80% of all other crypto assets until February 2017. BTC had an 86 percent market domination rating on February 26, 2017, and it has never risen beyond the 80 percent threshold since then.

“The market share for Altcoins has been on an increasing trend since 2014,” the creator of tradingplatforms.com notes. Altcoins accounted for 62 percent of the market share as of December 9, 2021, according to Reads. “In the previous seven years, their dominance has increased by thrice.” They’ve increased their market share by thrice, from 21% to 62 percent, according to Reads’ research.

The article goes on to discuss the rise of the cryptocurrency industry as well as the increasing interest in altcoins. “A shift in thinking about crypto assets is indicated by the development in [the] market domination of altcoins,” Reads argues. “They’re being embraced by many as a viable alternative to BTC. BTC’s supremacy will come under more strain as the crypto market develops, according to the tradingplatforms.com expert.

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Study’s Author Claims ‘Market Cap Is a Crucial Factor in Crypto Ranking’

“The market share for Altcoins has been on an increasing trend since 2014,” the creator of tradingplatforms.com notes. Altcoins accounted for 62 percent of the market share as of December 9, 2021, according to Reads. “In the previous seven years, their dominance has increased by thrice.” They’ve increased their market share by thrice, from 21% to 62 percent, according to Reads’ research.

The article goes on to discuss the rise of the cryptocurrency industry as well as the increasing interest in altcoins. “A shift in thinking about crypto assets is indicated by the development in [the] market domination of altcoins,” Reads argues. “They’re being embraced by many as a viable alternative to BTC. BTC’s supremacy will come under more strain as the crypto market develops, according to the tradingplatforms.com expert.

According to coingecko.com measurements, there are over 12,000 crypto-assets in existence today with a documented price value. While ethereum (ETH) holds 19.1% of the $2.54 trillion market cap, numerous other currencies have sizable stakes in the total crypto economy. The stablecoin tether (USDT) has roughly 3.06 percent market domination, whereas BNB has 3.64 percent. Solana (SOL), the fifth-largest crypto market cap today, controls 2.45 percent of the $2.54 trillion market value, while Cardano (ADA) controls 1.97 percent.

Altcoins have a few benefits over BTC, according to the tradingplatforms.com report, including “gaining ground in the [decentralised finance] sector.” In terms of scalability, Reads believes that “altcoins are built on superior Blockchain technology.” She claims that BTC is also dealing with a lot of environmentalists, and Reads mentions that “Elon Musk has been a vociferous critic.”