Bitcoin dominance in the market reached its lowest level in 7 months

Bitcoin dominance : Simultaneously with the decrease in the price of Bitcoin and the increase in the price of altcoins over this cryptocurrency, the dominance of bitcoin in the cryptocurrency market reached its lowest level in the last 7 months.

According to the script, the price of Bitcoin is in the range of $ 58,300 after the dominance of this cryptocurrency reached its lowest level in the last 7 months.

Bitcoin in the early days of 2021 had achieved a dominance of 72%; Since then, we have seen a decline, and now Bitcoin has a market share of 56.27%; This means that other cryptocurrencies now have the opportunity to exchange. Market dominance represents the share of the market value of a digital currency relative to other currencies.

The price of Ethereum, the market number 2 cryptocurrency, reached $ 2,000 yesterday, after which it recorded a new historical peak. The price of Ethereum on February 20 managed to reach a peak of $ 2,036, crossing $ 2,000; But this peak did not last long and was accompanied by a decrease. Yesterday, however, Ethereum peaked at $ 2,152 and is currently trading at $ 2,040.

Among the top 20 cryptocurrencies on the market, polkadot, Ripple, Uniswap, China Link and BitTorrent recorded the most jumps in their names.

The price of Polkadot increased by 20% to $ 46, which was the highest price growth among the top 10 cryptocurrencies in the market. The leap came three days after Kraken Exchange CEO Jesse Powell said in a statement that Polkadot could replace Ethereum with lower fees. Powell said in part that network fees rose from $ 13 to $ 22 a day as demand increased.

During the same period, China Link rose 6 percent to $ 32.44. At present, the price of China Link has dropped to $ 29. Uni Swap jumped 8% to 31.42 and is currently in the $ 29.9 range. Ripple is currently priced at $ 0.5. In recent days, this cryptocurrency has managed to reach the levels it was at before the US Securities and Exchange Commission filed a complaint.

BitTorrent was one of the other cryptocurrencies that was able to break its historical peak and go up to $ 0.007778. BitTorrent is currently trading at $ 0.0076, up 91% from last week.

Bitcoin dominance in the market reached its lowest level in 7 months