Bitcoin Forum

Bitcoins market dominance risen to hit 40% again today https://imgur.com/gallery/tqfbsQn , after falling to 35% in early May after it had been 45% in early April. What do people think will happen with this metric next - do you think it’s more likely to go back up to 45%, or that it’s more likely to revisit 35%?  My money would be on us seeing 45% before we see 35% again, and think I’d be on the favourite!

And no sign of that flippening hey - ETH at 18% market share! Sorry Bogdanov - “load the flippening thread” haha ‘BOGGED!’ - https://youtu.be/KV5QlSgq7lg

It's not market dominance, but market cap dominance. Stop paying attention to such worthless metric. It's meaningless in every shape or form with supply manipulation and ICO's constantly popping up out of nowhere.

Even right now that 40% figure isn't accurate. XRP doesn't have a $21 billion market cap, but $53 billion, which is higher than Ethereum. It perfectly displays supply manipulation, and the fact that CMC and other sites only fetches data from the circulating supply, which is false. It was last year where a coin popped up and had a $1000 billion total market cap, and that with only a 24H volume of $6000 lol. Ignore all these noob sites.

Bitcoin and Ethereum are the only ones with an actual major market share, and a well developed ecosystem around them, which are the only aspects that matter in market terms.

Yes these are just worthless statistics but this can do lot of things on the people mind,may make them to think that the price will go up soon so this will looks like the investment time for them.So the chances for the price to increase if the dominance level increases.

one of my hopes is that someone creates a bunch of shitcoins with a little higher supplies so that they can overtake bitcoin's market capitalization so that we might once and for all stop using market cap as "dominance".

i mean it is super easy to do too. if had more time i would have done it myself. you just need about 112 billion coins in circulation and a tiny pump to $1. you can just nudge the supply to 200 and pump it to half a dollar and have yourself a gigantic market cap :D

Have to agree that it's not a largely useful metric but from considering investing in bitcoin or alts it can be somewhat useful. I'd agree we'll move towards 45% instead of 35%. Bitcoin seems to have reached some support and even if it were to fall below 6k you can be sure the whole market would follow and harder.

You think people and merchants, when deciding if they should accept Bitcoin, would refer to CMC's market cap dominance? Think they would look at the top 5 and add those?

Trust me, if Bitcoin ever were to drop to 10th place with a 5% dominance, it'd still be the first crypto anyone would add if they were considering it.

At the rate of supply, Tether will be number 1 some day. Does this mean anything?

What you say is very true, and I didn’t mean to give this particular figure I see at the top of the portfolio management app I use any more significance than it deserves. It was just a round figure I guess, but as you explain it’s largely meaningless because the whole idea of ‘market caps’ is flawed. And I remember well when I ‘moved’ the price of TRAC down a whole 12%, because my 2 ETH purchase on IDEX was the only sale for the day. Did anything about the project or the value of the other 99.999% of coins really change negatively by 12% that day - no of course not. That was a valuable lesson on how unreal the large price swings of altcoins up and down usually is.

Yes I suppose I was more framing a ‘bet’ on that meaningless number sorry. I should have pointed out that it doesn’t really mean anything!

And I would contend that bitcoin is the only coin with a proven medium term performance and good prospects in the medium to long term. I think all the altcoins and Blockchain Technology are still relatively primitive compared to the centralised technology of the big centralised companies running business and the internet that they want to replace. But I think they are part of the development of superior Blockchain Technology and projects to come that might well achieve that goal. So bitcoin 1, altcons 0 ATM in my book!

I agree that supply manipulation is possible, and that it's likely that some smaller cryptocurrencies are using it as a means of pretending to be a more relevant coin than they are, but circulating supply is clearly the most useful way of measuring market cap.

Most of the remaining XRP is locked up (https://www.cryptoninjas.net/2017/12/08/ripples-55-billion-xrp-lockup-complete/) for a long time.  Sure, it exists, but it isn't going to affect the market.

Also, I'd say that ironically, the market cap does have an affect on speculators as a kind of self-fulfilling prophecy.  They think that it's going to affect less knowledgeable speculators and therefore they may change their investment based on this.  In that sense, it's actually somewhat relevant to think about.

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I'd expect Bitcoin's market cap dominance to remain within the ballpark that it's in now.  Alts seem to roughly follow what Bitcoin does and variations are pretty minor.

So far Bitcoin market share was increasing during the bear market and decreasing during bull runs. When the crypto market is bearish, people sell alts for BTC and then BTC for fiat, because often it's impossible to sell alts for fiat, especially with smaller coins. Also, alts are more riskier than BTC, so they should be the first to sell when the bear market starts. But during bull runs BTC dominance falls because after initial price rise of BTC, alts jump in price as investors are looking for a train to hop on as the rally starts, and they think that they've already missed Bitcoin.

Bitcoin market cap increases as the number of people buying bitcoins also increases. For recently bitcoin has been experiencing bearish in the market and that accountant for the reduction in the market cap. What I can say is as bitcoins is expected to increase in the next coming months, it will increase to 40 to 45 % market capitalization as it has always be.

There definitely are some cons to how that lockup is set up, but can't we similarly exclude satoshi's assumed 1 million coins?

Locked XRP will for sure return back in the market, no one even doubts that, it's only a matter of time, while we with a very high probability won't be seeing satoshi's coins back in circulation. It's a double edged sword situation.

That being said, with all the developments and announcements, XRP is going through a very disappointing phase where the market just doesn't want to reward that token with an increase. Even the volumes are low.

It might be that more investors are aware of their insane pre-mine, or they don't like its centralized nature.

I think bitcoin dominance will continue to rise as 98 percent of the projects are just experimental, and while some of them will be big, majority of them sadly wont. It is not specific for the crypto, but present in all spheres.

I think flippening may not happen. Ethereum is not new anymore. It has its own problems and these problems will stay. With these problems, it won't become the leading crypto currency.

there has never been a flippening to begin with!
it was all a marketing technique to increase the hype of a couple of altcoins including ETH, DASH, XRP and BCH and pump them harder. if you remember it all started last year during the drama of bitcoin and its SegWit and continued as these altcoins got pumped.

It is the good one.Now the bitcoin price attain stablity between 6400-6500$.Few days back the price was reduced often.Those who had huge money to inverse can choose the bitcoin.This raise is also impact the raise in Ethereum price.This is will be the good time for the traders to buy huge bitcoin.

a couple of years ago nobody talked about market cap that much and all these silly rankings weren't important although they existed. ever since ETH started getting pumped they also used the market cap to advertise it as being good only because it is number 2  while it had nearly 90% of its supply in premine (72 million). and the only reason why it is being used by ICOs is the fact that it is hyped up and is in #2 place otherwise it is neither good to use nor easy nor cheap!


i hope it happens. because by then we may finally see people stop referring to market cap as "market dominance" and stop using it to rank coins.

OP, I believe Bitcoin's market dominance will slightly increase more and float on 50% to 55% before 2018 ends. We witnessed a great expansion in the blockchain world, with so much money invested and lost. In my opinion, the losses will cause a "collapse", prompting many users to naturally come back to Bitcoin.

I do not think market cap dominance is a good metric for anything, but the only reason Bitcoin shot back up to 40% is because altcoins have been weak in comparison. Nothing of note is next because it does not indicate anything of value, but I expect it to fluctuate around the 40% range for the length of the bear market.

I think most has been said already, it doesn't matter much. Many altcoins have almost no volume at all (ranging around 10-20k maybe), but have almost a $100mil market cap, so you really can't count that as a factor. If you'd want to sell 25k worth of those coins, it would crash.

BTC still is the king which is needed to buy most of the alts and will probably stay that way, market cap being 10% or 50%.

This.

So fucking true.
It's not that other coins aren't interesting or promising or whatever...
Sure coins like XRP are cool and might get big one day but it's delusional to believe that it's something safe and secure.

The only completely developped coins are bitcoin and ETH.
That's it. Nothing more.

I would agree about Ethereum if it could scale out instead of scaling in. Its developers made design decisions that might be bad by making the miners decide what the gas limits are. That might isolate some nodes from syncing with the rest of the network if blocks become too high.