Slight growth in the crypto market in 2020 has been recorded but if stats are anything to go by, a major chunk of it is getting dominated by three coins. Bitcoin, as expected, is top of the pile and continued to be the king of cryptocurrencies in 2020.

However, the next two in line are not catching up too. Tether and Ethereum made the top three. Ripple XRP was a familiar name with the third spot but tether has gone on to replace it. 

The top three coins accounted for 90% of the crypto market trading volume, leaving just 10% for the other coins. In 2019, they accounted for 75% but their domination has grown now, according to Messari report.

There are new coins and old ones are gaining recognition, however, they are still no match when it comes to the top three cryptocurrencies, especially bitcoin. The report was done by Wilson Withiam who also highlighted the reason behind why Tether popularity has grown recently. He believes that due to the crisis, people are still looking at the US dollar as a store of value.
<blockquote class="twitter-tweet">
Crypto trading volume in 2020 has been all about BTC, USDT, &amp; ETH
These three now represent ~90% of real vol within the top 10 compared to 75% just 1 year ago

1/ <a href="https://t.co/YCMH0XL2xs">pic.twitter.com/YCMH0XL2xs</a>

— Wilson Withiam (@WilsonWithiam) <a href="https://twitter.com/WilsonWithiam/status/1260584206368899072?ref_src=twsrc%5Etfw">May 13, 2020</a></blockquote>
<h2>Crypto Market Ecosystem Favourable For Them to Flourish Further</h2>
The report also believed that the situation is favourable for the top three coins to further dominate the crypto market in the next year to come too. Bitcoin dominance was 64% a month ago and is 68% now.

Currencies like Monero who are being favoured for privacy and is believed to be better than bitcoin is still too far away to come close to even being put in the same bracket as bitcoin. However, it definitely holds a peculiar spot in the crypto world. Bitcoin though would continue to make the headlines as it tried to touch the $10,000 mark again, after going past $9,500 first time after the halving event.

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90% of Crypto Market Trading Volume Dominated by Three Coins

Bitcoin,Tether and Ethereum trading volume dominance in the crypto market went from 75% to 90% and looks set to grow,according to Messari report.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

90% of Crypto Market Trading Volume Dominated by Three Coins

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