The bitcoin share in the cryptocurrency market dropped below 40%

Bitcoin is losing ground in the cryptocurrency market more and more, while altcoins are showing a severe rise, rapidly approaching dominance. Equally to information from the web service TradingView the share of the first cryptocurrency, Bitcoin, has dropped to under 40%. This figure is close to 36.7%, marked as a record low in early 2018. In May, the share of bitcoin in the total market value of the crypto market dropped to 40.3%, but then it began to increase. Analysts predict outcomes will soon outpace Bitcoin’s growth. The altcoins’ share of the total cryptocurrency market capitalization at the end of this year approached almost 60%, which is significantly higher than the 21% recorded in 2014. Since the beginning of this year, Ethereum’s share has grown from 10% to 20%. Noel Acheson, head of the American financial institution Genesis Global Trading, estimates that institutional investments in crypto assets will accelerate the following year, given their strong pace this year.

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Arseny Kudrin

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