After reaching its biggest market capitalization dominance since November 2021 last week, Bitcoin is regaining market share from altcoins. The pioneer momentarily accounted for almost 42% of the global crypto market cap in late January, according to CoinMarketCap data. Bitcoin Dominate Alt coins Since its inception, Bitcoin has been the most popular cryptocurrency. Its domination was unequaled for a long time, as the digital coin’s performance influenced the market’s outcome, bringing altcoins along for the ride in either win or loss scenarios. The influx of new altcoins into the crypto market, all with the goal of dethroning Bitcoin, threw its supremacy into disarray as a slew of altcoins fought for a piece of the pie, ranging from ethereum to dogecoin. Bitcoin dominance 1-day candle chart. Source: TradingView Despite the fact that Bitcoin has been in the red for the majority of the month, its portion of the $1.68 trillion crypto market has increased to around 42%, up from 39% two weeks ago. Bitcoin’s market capitalization has increased for the first time since mid-October, when it dropped from a peak of 46 percent. Throughout the second half of January, Bitcoin has managed to maintain its 40 percent market share. Related article | Bitcoin Supply On Exchanges Hits New Multi-Year Low Of 13.27% Unlike traditional market capitalization, which has remained relatively consistent since the all-time highs in N...
