Bitcoin’s market dominance is now over 70 percent

Bitcoin's market dominance is now over 70 percent.

Image source: Shutterstock / Trijo News

Christian Ploog

The bitcoin price has soared by over $750 over the last 24 hours.

Bitcoin continues to show strength. From having been traded around $9,753 during Monday morning (CEST), the price has soared sharply. It peaked at $10,506 early Tuesday morning, according to numbers from Bitstamp.

That’s an increase of over $750 – or over 7.7 percent – since yesterday.

However, the price turned downwards slightly after the upturn and bitcoin is traded at around $10,400 at the time of writing.

Bitcoin’s market dominance above 70 percent

Since yesterday, bitcoin’s total market cap has risen from $175 billion to $186 billion – an increase of $11 billion.

Thus, bitcoin currently accounts for 70.1 percent of the total market cap of all cryptocurrencies, according to Coinmarketcap.

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