Bitcoin has been the forefront of the cryptocurrency market with a market capitalization of 48%. However, including Ethereum and Tether, the share rises to an impressive 75%. The rise in the crypto market capitalization comes after the market bounced back and rallied from the beginning of the trading year. With the total market capitalization dropping to $755 billion at the end of 2022 after a bearish market, it has now reached $1.16 trillion, indicating investors’ growing confidence in the crypto space.
Other cryptocurrencies have declined despite the latest market rally, but Ethereum and Tether have managed to keep pace with Bitcoin. Ethereum’s share remained stable even during the bearish market of 2022, and the same with Tether. The two, alongside Bitcoin, make up about 75% of the total cryptocurrency market capitalization.
Investors looking to invest in cryptocurrencies should consider the market capitalization dominance in percentages of various cryptocurrencies. The dominance shows which cryptocurrencies are favored by investors and could be viable investment options. In summary, Bitcoin stands at 48.58%, Ethereum at 17.87%, and Tether at 8.19%. Other cryptocurrencies, such as USD Coin, Solana, and Binance Coin, have seen a decline in their market capitalization share.
It is crucial to note that the cryptocurrency market is highly volatile, and investors need to be cautious when investing in it. Nevertheless, with the latest rally and growing confidence in the crypto space, there could be opportunities for significant returns on investment. As such, it is advisable to seek professional advice before investing in any cryptocurrency.