While Bitcoin and Ethereum Dominance Slides, Stablecoin Market Caps Reap the Rewards

During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today. Bitcoin and Ethereum Dominance Has Dropped Over the Last Month The crypto bear market has done some damage to the digital currency economy and many continue to wonder if the market carnage will continue. The market has seen a brief consolidation…

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How to trade crypto using BTC dominance?

[ad_1] Bitcoin (BTC) is both the first and the most prominent cryptocurrency in the world when it comes to market capitalization as well as trading volume. These factors are quite significant, considering that all cryptocurrencies trade against Bitcoin and Bitcoin’s dominance can actually serve as a valuable indicator when trading all different types of cryptocurrencies. This post will offer insight on how to trade cryptocurrency while utilizing the Bitcoin dominance indicator and how to read the Bitcoin dominance index chart overall. What is the BTC dominance chart? Bitcoin dominance is…

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Ethereum dominance may dwindle as competitors emerge: Morgan Stanley

[ad_1] Morgan Stanley’s wealth management global investment office has published a report on Ethereum (ETH) arguing that the blockchain’s dominance could dwindle if strong market competition emerges. The investment banking giant’s report is titled “Cryptocurrency 201: What Is Ethereum?” and it provides a detailed rundown of the ecosystem along with its advantages and disadvantages in relation to Bitcoin (BTC). “Due in part to its more ambitious addressable market, Ethereum faces more competitive threats, scalability issues, and complexity challenges than Bitcoin. Furthermore, Ether is more volatile than Bitcoin,” the report reads.…

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Bitcoin Dominance Sinks to Lowest Level in 3 Years as Ethereum, Numerous Competitors Gain on BTC – Markets and Prices Bitcoin News

[ad_1] Bitcoin dominance has dropped to the lowest level in just over three and a half years since June 3, 2018, at 37%. Last year, at the end of March, bitcoin dominance hovered just above the 60% zone but since then, numerous digital asset market caps have swelled in value and gathered prominence in the market rankings along the way. Bitcoin Dominance Dips Below 38% The crypto economy currently has roughly 12,247 crypto assets traded across 542 exchanges worldwide. Crypto markets have shed more than 7% over the last 24…

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Illuvium, LCX and Tokemak hit new highs as Bitcoin dominance lingers

[ad_1] During bull markets, altcoins tend to accrue gains when Bitcoin price consolidates and at they run in tandem with BTC price during breakouts. This dynamic appears to be at play today because multiple altcoins went parabolic at the same time that BTC made a run at $64,000 and Ether (ETH) hit a new all-time high above $4,500. According to data from Messari, 31 tokens have established new record-highs in the past 24-hours and the total cryptocurrency market cap increased from $2.619 trillion to $2.732 trillion overnight. Top 13 tokens…

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Layer-one protocols chip away at Ethereum’s dominance.

[ad_1] The rise of decentralized finance and nonfungible tokens has transformed the blockchain ecosystem and generated near unimaginable riches for investors, but none of this would be possible without the strong foundation offered by layer-one blockchain networks like Bitcoin and Ethereum.  Smart contracts and layer-two protocols promise to revolutionize the finance and logistics industry, but they require a robust, secure and distributed network to operate on and to ensure their immutability. Currently, most of the top layer-two projects operate on the Ethereum network, and this has resulted in increased transaction…

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Bitcoin dominance on the rise once again as crypto market rallies

[ad_1] Bitcoin’s price has been rallying in tandem with altcoins, sending mentions of the markets flipping back to a bullish supercycle for Bitcoin (BTC). The flagship cryptocurrency went through the resistance levels of $42,000 for the first time since May 19, hitting a peak of $42,541 on July 31.  Alongside the market rally, the Bitcoin dominance (BTCD) index has been seeing an uptrend as well. As per data from TradingView, BTCD hit a 3 month high of 49.2% on July 31. The last time it was at these levels was…

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North American crypto miners prepare to challenge China’s dominance – Cointelegraph Magazine

[ad_1] Springtime is coming to the North American cryptocurrency mining industry. With access to robust capital markets, cheap power, a stable political climate and increasing participation of technological innovators, industrial-grade mining operations are burgeoning in the United States and Canada, providing competition to Chinese mining pools that now control more than half of the world’s hashing power. These new ventures are acutely aware of the need to minimize mining’s carbon footprint. In March, when Neptune Digital Assets and Link Global announced they would develop a new five-megawatt Bitcoin mining facility…

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North American crypto miners prepare to challenge China’s dominance – Cointelegraph Magazine

[ad_1] Springtime is coming to the North American cryptocurrency mining industry. With access to robust capital markets, cheap power, a stable political climate and increasing participation of technological innovators, industrial-grade mining operations are burgeoning in the United States and Canada, providing competition to Chinese mining pools that now control more than half of the world’s hashing power. These new ventures are acutely aware of the need to minimize mining’s carbon footprint. In March, when Neptune Digital Assets and Link Global announced they would develop a new five-megawatt Bitcoin mining facility…

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PancakeSwap (CAKE) aims to take a slice out of Uniswap’s DeFi dominance

[ad_1] Decentralized finance has taken a back seat to nonfungible tokens over the past month but this hasn’t stopped the top DeFi projects from developing and strategizing how to grow their ecosystems and market share.  One project that has outperformed the field as of late is PancakeSwap (CAKE), the Binance Smart Chain-based automated market maker (AMM) that allows users to exchange tokens and earn a portion of fees through yield farming. Monthly trading volume on PancakeSwap. Source: Delphi Digital According to a recent report from Delphi Digital, several factors have…

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