Bitcoin has always been at the forefront of market capitalization and has been the so-called "dominant" cryptocurrency  market, but this seems to have changed and will soon see the cryptocurrency  fall to rankings. We will be lower because competing blockchains  such as eth are growing exponentially and are stepping up capital.

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Bitcoin market dominance (a measure of bitcoin's share of the cryptocurrency market) has now reached its lowest possible level this year. According to data from the CoinMarketCap website, Bitcoin currently holds 57.9% of the total market capitalization of the cryptocurrency market (Total Market Cap).

This relative decline is due to the popularity of decentralized software (DeFi) in Blockchain ETH, which has driven the growth of this popular network. As
ETH blockchain capital increases, other protocols, such as Polkadot and Cardano, have also attracted the attention of investors and users of the cryptocurrency industry, pushing capital away from the bitcoin market.



After about six months, the level of bitcoin dominance began to fluctuate and this figure reached the lowest recorded record of 32.8% in January 2018. Despite the dramatic decline in bitcoin market dominance, cryptocurrency remained in control of the market and was able to continue on its way. In 2017 and 2018, the competition between large cryptocurrency such as Bitcoin, ETH, Ripple, Bitcoincash and other smaller cryptocurrency took shape. After a while, this trend ended and the level of bitcoin dominance rose again.




The difference between the downtrend of bitcoin dominance in previous years and the current downtrend is that at that time other existing  blockchains including ETH and the rest of the secondary cryptocurrencies were also caught in this downtrend. But now we see it on the coin, ETH and other secondary cryptocurrencies are increasing capital and market share.


With all these interpretations, although Bitcoin is still at the top of the cryptocurrency market, this time it may not be able to resist and lose its position.



What do you think about reducing bitcoin dominance in the cryptocurrency market?
Will we soon see a secondary cryptocurrency come first?