Bitcoin (BTC)’s dominance in the cryptocurrency market has surpassed 49%, reaching its highest level in more than two years. According to data from CoinGecko, Bitcoin’s dominance currently stands at 49.58%, almost three times the dominance of Ethereum (ETH), the second-largest crypto by market cap, which sits at around 16.7%. This steady increase in dominance, starting from around 38% at the beginning of the year, signifies a significant surge in Bitcoin’s market share. The rise in Bitcoin’s dominance can be largely attributed to its year-long rally, with the cryptocurrency’s price surging by 81% since the start of 2023. This impressive performance has solidified Bitcoin’s position as a leading force in the market.
Bitcoin Dominance Surges to Over 49% in Crypto Market
