Bitcoin Dominance Declines While Altcoin Sees A Surge
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Bitcoin Dominance Declines While Altcoin Sees A Surge

February 15, 2020      Jyoti Singh

Since the start of 2020, the market share of Bitcoin (BTC) dropped by 11 percent. According to the report by Tradingview, by the end of December 2019, the market share of BTC reached up to 70 percent but in the year 2020, it came down to 62.5 percent.

Altcoins Performed Better Than BTC 

Since the beginning of 2020, BTC has shown tremendous growth of around 44 percent, it started the year at $7200 and has reached a yearly high of 10,500. The price rise of BTC is definitely among the highest when compared to traditional assets like gold, stocks and bonds. Gold has seen a growth of 4 percent but it was not as impressive as the BTC’s growth. However, when compared to some altcoins, the BTC’s growth looks dwarfed.

In the year 2020, Ethereum has become one of the top-performing crypto assets with a surge of almost 120 percent. Although its market cap has topped $30 billion, Ethereum still has a long way to go because it was only 16 percent higher than the BTC’s cap.

According to the report, the Ripple XRP token has also gained 72 percent in its market cap since the start of this year. Bitcoin Cash has gained 136 percent of the market cap which is triple the gains of BTC. Even the BSV has seen a pump of up to 260 percent. The report further suggested that Litecoin has doubled its price from $40 to $80 and the EOS made the gain of around 100 percent. 

Tezos Leading The Altcoin Dominance

The report added that this year Tezos has been the top-performing asset and has solidified its top ten positions with 160 percent price pump.

It has been reported that since January 01, 2020, the total growth of the crypto market is over 60 percent while the crypto market cap reached $300 billion which is highest since August 2019. 

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#Altcoins #Bitcoin (BTC) #EOS #Ethereum #Ripple (XRP) #Tradingview.com
Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.