Quote from: pooya87 on Today at 05:53:42 AM

The number you are looking is not bitcoin's "dominance", it is simply a ratio of bitcoin's market capitalization and the total market capitalization of thousands of shitcoins.
Since market cap is calculated simply by multiply supply by price and shitcoins can easily create any supply value they want and they have done that, the total supply (hence the total market cap, ie the denominator) is gigantic hence the ratio is close to 70%.

As new shitcoins are created (like the ICO mania of 2017) or the existing shitcoins have or create large amounts of supply (like the 72 million premine of ETH, or the out of thin air issuance of XRP) the denominator grows and the ratio goes down. But as these shitcoins inevitably get dumped their price*supply aka market cap goes down and the ratio goes back up again.

Coinmarketcap does a pretty good job at separating circulating supply from total supple to arrive at the true/real/effective market capitalization.

https://support.coinmarketcap.com/hc/en-us/articles/360043396252-Supply-Circulating-Total-Max-#circulating_supply