Recently, a crash dropped the Bitcoin price by 10% in one day. It had been a difficult day for the market, some investors turned that day into an opportunity and increased their investments.
This week, everything is very different: Crypto markets have turned green and Bitcoin market dominance has dropped to a seven-month low.
Bitcoin is currently trading at around $ 59,668, although it may not regain its old all-time high of $ 61,684 it recorded three weeks ago.
However, Bitcoin’s market dominance is at its lowest in seven months. At the beginning of the new year, Bitcoin dominated 72% of the market. However, the leading crypto market dominance has since dropped to 58.47%. Market dominance shows how the market cap of a given currency compares against the total market value of traded cryptocurrencies. All of this means that Bitcoin is no longer on the scene.
Take Ethereum, the second largest cryptocurrency by market cap. Ethereum finally managed to surpass $ 2,000 yesterday and even hit an all-time high.
But the most massive daily price gains in the top 20 cryptocurrencies by market cap came from Polkadot, XRP, Uniswap, Chainlink, and BitTorrent. Polkadot is up more than 20% today, trading at $ 46. And while Chainlink increased 6% to $ 32.44, Uniswap gained almost 8%. XRP, which grew by about 7% and reached a price of $ 0.063, achieved a similar gain. Finally, the BitTorrent token (BTT) recently reached its ATH value of $ 0.00778. It has gained 30% if since yesterday and its price has risen 91% compared to the end of last week.