With every new token circulating in the market, they should add up some value and have their own share of total dominance by price.
But for some years, we are having an increasing number of new coins and tokens being traded but still bitcoin is increasing it's dominance.
According to coinmarketcap, bitcoin now holds a 42% dominance. i.e. the 42% of total capitalization of cryptocurrencies is that of bitcoin.
How is it possible? Are altcoins failing?
Price wise, yes Bitcoin is really up there! And market cap is crazy. But these are just huge figures that we can initially see which gives us the impression (especially the new comers), "Hey, I think it would be pretty nice to invest in that currency!" Craze usually draws in a lot of people. But many of us fail to realize the profitability side of these coins. Bitcoin offers profit but it will take time and patience for that to happen because of its high price. Unlike with alts wherein most prices are flexible and offers a wider range of profit. So for me, alts are pretty much alive.
I think this is still a nascent market, speculation in the market is dominating trading activity. I think this is only a matter of time, until people get to know the other applications, things will be different. There will be some changes on the way to the next, where those who do not fit will be eliminated and give way to more suitable projects.
The trading is about speculating and it's 100% speculation activities. The community will welcome for those projects are creating a proper development phase. as you can see that more than 80% of icos have died and that means if those can't even compete with the existing ico (proper development)