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- The present price of BTC is $26,940.39.
- Bitcoin has a market capitalization of $522 billion.
As per data from TradingView, Bitcoin dominance, which reflects the proportion of Bitcoin’s market capitalization in relation to the overall cryptocurrency market, has exceeded the 50% mark. According to CoinMarketCap, BTC currently has a market capitalization of $522 billion.
Bitcoin Market Dominance (source: TradingView)
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In the last eight months, Bitcoin dominance has seen a significant increase, while Ether’s market dominance has remained fairly constant at around 20% for nearly a year. At present, the total market value of BTC and Ether represents approximately 70% of the entire cryptocurrency market.
In a recent statement, Michael Saylor forecasted that BTC dominance will exceed 80% due to heightened regulatory measures against other digital currencies. Saylor emphasized Bitcoin’s widespread acknowledgment as the digital commodity of the sector, while the SEC categorizes 68 cryptocurrencies as securities. He also noted that the lack of substantial institutional investment in the crypto market is linked to the multitude of alternative cryptocurrencies creating confusion and apprehension.
According to CoinMarketCap, the current price of BTC is $26,940.39, with a 24-hour trading volume of $14,223,914,664. Over the last 24 hours, BTC has experienced a 2% rise.
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