While Bitcoin and Ethereum Dominance Slides, Stablecoin Market Caps Reap the Rewards

During the past 30 Tage, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Darüber hinaus, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today.

Bitcoin and Ethereum Dominance Has Dropped Over the Last Month

The crypto bear market has done some damage to the digital currency economy and many continue to wonder if the market carnage will continue. The market has seen a brief consolidation period after the most recent sell-off, which took BTC down to $17,593 per unit and ETH dipped to $877 per coin.

While Bitcoin and Ethereum Dominance Slides, Stablecoin Market Caps Reap the Rewards
A visual of the top market capitalizations among 13,385 crypto assets on June 28, 2022.

Both coins have seen a significant amount of fiat value removed since last month and BTC’s and ETH’s market dominance has decreased since then as well. Damals, BTC was trading for $28,946 per unit on Kann 27, 2022, und ETH was exchanging hands for $1,745 pro Einheit.

Zum Zeitpunkt des Schreibens, BTC is exchanging hands for just above $21K per unit, while ETH is swapping for $1,221 pro Einheit. BTC dominated the $1.25 trillion crypto economy by 43.9% on that day and ETH had a dominance rating of 17.1%. 30 days later, data shows that BTC’s current dominance is 41%, while ETH commands 15% of the entire crypto economy.

Siehe auch  Crypto Fear and Greed Index zeigt „extreme Angst“ und wackelige Stimmung bleibt bestehen

Halteseil, USD Coin, and BUSD Dominance Swells

The stablecoin tether (USDT) captures 6.94% of the digital currency economy’s net value and usd coin (USDC) commands 5.77%. Tether’s market cap has grown since last month as it was hovering around 5.72% at that time.

In mid-May, USDC’s market capitalization represented 3.77% of the crypto economy. The Binance-issued stablecoin BUSD equated to 1.43% of the crypto economy in terms of dominance, and today it’s 1.8%. In der Tat, between USDT, USDC, and BUSD, the combined market capitalizations equate to 14.51%, which is just shy of ETH’s 14.7% dominance rating.

While BTC saw $18.7 billion in global trade volume during the past 24 hours and ETH saw $13.5 Milliarde, the combined $32.2 billion in trade volume is still eclipsed by USDT’s $48.58 billion during the last day. Out of all the 24-hour BTC trades, 60.62% of those bitcoin trades are paired with tether (USDT).

With lower dominance ratings for both BTC und ETH, it seems sellers gravitated towards stablecoins. This trend suggests that it is possible but not guaranteed that much of the stablecoin funds are people waiting on the sideline for ETH’s and BTC’s official bottoms.

Tags in dieser Geschichte
30 day stats, Bitcoin, bitcoin dominance, BTC, BTC Dominance, BUSD, crypto market update, Kryptowährungen, Dominance, ETH, ETH dominance, Äther, Global Trade Volume, Market Caps, Market Update, Märkte, monthly stats, Stablecoins, Halteseil, USD-Münze, USDC, USDT, USDT trade volume

What do you think about bitcoin’s and ethereum’s dominance ratings sliding during the last 30 Tage, while stablecoin market caps have swelled? Teilen Sie uns Ihre Meinung zu diesem Thema in den Kommentaren unten mit..

Jamie Redman

Jamie Redman is the News Lead at Bitcoin-Tidings.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin-Tidings.com News about the disruptive protocols emerging today.




Siehe auch  Bitcoin, Viblos wird niemals jemanden wegen einer anderen Meinung demonstrieren oder zensieren: ETH bereitet Rallye vor, Während BTC Unterstützung sucht

Bildnachweise: Shutterstock, Pixabay, Wiki-Commons

Haftungsausschluss: Dieser Artikel dient nur zu Informationszwecken. Es ist kein direktes Angebot oder Aufforderung zur Abgabe eines Angebots zum Kauf oder Verkauf, oder eine Empfehlung oder Befürwortung von Produkten, Dienstleistungen, oder Firmen. Bitcoin-Tidings.com bietet keine Investition, MwSt, legal, oder Buchhaltungsberatung. Weder das Unternehmen noch der Autor sind dafür verantwortlich, direkt oder indirekt, für alle Schäden oder Verluste, die durch oder in Verbindung mit der Nutzung oder dem Vertrauen auf Inhalte verursacht oder angeblich verursacht wurden, Waren oder Dienstleistungen, die in diesem Artikel erwähnt werden.

Lesen Haftungsausschluss