Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Bitcoin Dominance Soars to 60% Amid Crypto Market Downturn
ADOPTION NEWS

Bitcoin Dominance Soars to 60% Amid Crypto Market Downturn

By Crypto FlexsAugust 5, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Dominance Soars to 60% Amid Crypto Market Downturn
Share
Facebook Twitter LinkedIn Pinterest Email
Tier 1 • August 5, 2024 10:18 AM EDT

Posted 1 minute earlier In ~

Updated: August 5, 2024, 10:56 AM EDT

Bitcoin dominance is a term used to describe the total market share that Bitcoin maintains compared to other cryptocurrencies, which has hit an all-time high amid a downturn in digital assets and global stock markets.

Bitcoin’s total market capitalization currently accounts for about 60% of the entire cryptocurrency industry’s capitalization. Data pages of a block. That’s up from Bitcoin’s dominance of about 51% on Friday.

Bitcoin was trading around $51,000 at the time of publication, after briefly falling below $50,000 during Asian trading hours. This is the lowest Bitcoin has traded since several spot Bitcoin ETFs were launched in January.

Bitcoin’s price has fallen, but its dominance has surged as competing cryptocurrencies, including Dogecoin, XRP, and BNB, have fallen even further in value. Ether, the second-largest cryptocurrency, has also seen significant declines and is currently trading below $3,000.

U.S. stocks plunged on Monday after a dismal jobs report on Friday, rekindling fears of a potential recession. Japan’s Nikkei 225 stock index plunged 12% in Wall Street’s worst day since the 1987 Black Monday crash, raising concerns that a popular trading strategy involving the Japanese yen, known as the “carry trade,” is now unravelling.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

Daniel Kuhn is a senior journalist and editor at The Block, covering the cryptocurrency industry with a particular focus on technology. He previously served as an associate editor at CoinDesk, where he covered the opinions/articles section. He was first published in the trade publication Financial Planning. Before pursuing journalism, he studied philosophy as an undergraduate, English literature as a graduate student, and business and economic reporting at NYU’s professional program. You can connect with him on Twitter and Telegram @danielgkuhn, or find him on Urbit as ~dorrys-lonreb.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NVIDIA Blackwell achieves an improvement of 2.6x performance in MLPERF training v5.0.

June 4, 2025

NVIDIA MLPERF V5.0: Reproduces the educational score for LLM benchmarks

June 4, 2025

Floating Point 8: Low precision AI training innovation

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin robbery is a trader after market rotation; ETH, DOGE LEAD majors

June 4, 2025

IP cooperation with the original ZEUS artist and trademark holders

June 4, 2025

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025

NVIDIA Blackwell achieves an improvement of 2.6x performance in MLPERF training v5.0.

June 4, 2025

NVIDIA MLPERF V5.0: Reproduces the educational score for LLM benchmarks

June 4, 2025

Price prediction of BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link

June 4, 2025

Did the Altcoin season end in 2025? Experts think that it was delayed that it was not dead.

June 4, 2025

Checkpoint #3: June 2025 Stats Ether Leeum Foundation Blog

June 4, 2025

Floating Point 8: Low precision AI training innovation

June 4, 2025

Is Ether Lee leading capital rotation to Bitcoin Dominance Falls -Altcoin Rally?

June 4, 2025

Bitcoin (BTC) is faced with market volatility in economic changes.

June 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin robbery is a trader after market rotation; ETH, DOGE LEAD majors

June 4, 2025

IP cooperation with the original ZEUS artist and trademark holders

June 4, 2025

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025
Most Popular

Hong Kong Monetary Report Rising in April 2025

May 31, 2025

All About Crypto Vision Conference 2024

December 29, 2023

Travala Expands Reservation Support for Solana-Based Properties, Offers SOL Travel Rewards

September 21, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.