As the original and most well-known cryptocurrency, Bitcoin (BTC) is often considered the face of the crypto industry. But just how much of the market does BTC really control? Let’s take a look at some numbers.
According to data from CoinMarketCap, BTC’s market capitalization currently sits at around $176 billion. That’s nearly 60% of the total $293 billion market cap of all cryptocurrencies.
So we can say with some confidence that BTC makes up a significant majority of the crypto market.
NOTE: This question can be misleading as many people assume that Bitcoin is the only cryptocurrency on the market. While Bitcoin does make up a large portion of the crypto market, there are other digital currencies available, such as Ethereum, Ripple, and Litecoin. These other digital currencies should also be taken into consideration when trying to determine the percentage of the crypto market that Bitcoin holds.
But what about trading volume? Here, things are a bit less clear. CoinMarketCap shows BTC’s 24-hour trading volume at just over $11 billion.
That’s less than 4% of the total $293 billion 24-hour volume for all cryptos. So it seems that BTC’s dominance of the market is not as clear when it comes to trading volume.
Of course, these numbers can fluctuate quite a bit from day to day (or even hour to hour), so it’s hard to get an exact picture of BTC’s true market share. But based on the data we do have, it seems safe to say that BTC is the clear leader in the cryptocurrency space, with a significant majority of both market capitalization and trading volume.
What Percentage of Crypto Market Is Bitcoin? – Nearly 60% of the total $293 billion market cap of all cryptocurrencies, and around 4% of the total $293 billion 24-hour volume for all cryptos.
9 Related Question Answers Found
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