During Last 30 Days, Altcoins Marketcap Dominance Grew 5%, While Bitcoin Lost 3%

in #steem6 years ago

I love to browse through specific data, especially on those Mondays when markets seems not to know in which directions they want to head. Like this Monday, for instance.

One of the most interesting changes during last month, going completely under the radar, is the growth in market cap of altcoins. Coupled with the loss of dominance of Bitcoin, this paints an interesting story. But more on that a bit later, for now let's look at the charts.

So, here's the dominance chart with a snapshot taken on March 18th, almost a month ago:


Screen Shot 2018-04-16 at 6.16.44 PM.png


And here's how this chart is looking now:


Screen Shot 2018-04-16 at 6.16.52 PM.png


Let's make it a bit clearer.

The losers:

TokenPercentage lost
Bitcoin3.13%
Bitcoin Cash1.27%
Ethereum1.16%
Litecoin0.58%
Dash0.12%
Monero0.06%
Ripple0.05%

The winners:

TokenPercentage gained
Others5.84%
IOTA0.26%
NEM0.17
NEO0.11%

The top 3 losers, Bitcoin, Ethereum and Bitcoin Cash, are accounting almost for the exact increase for the gainers, which is Others.

What does that means is that a significant amount of value is shifting from the "grandfathers" of crypto into newcomers. This may happen for any of the following reasons, or for all at once:

  • people are trying to hedge the bear market of Bitcoin and they're moving their funds into specific alts
  • some of the successful ICOs of last year are creating a "community" effect, which drives the early investors to keep acquiring tokens in these new ventures
  • some of the projects launched 1-2 years ago are gaining traction and they become attractive as an investment (among them, STEEM, obviously)

Now, this Others includes tokens like STEEM, which will fall under the "successful projects" above, or EOS, which will fall under the "successful ICO" above. But there are also other tokens, like ZCash, Binance Coin, Ethereum Classic, Lisk or Nano. All of these are attracting value from investors, suggesting traders are considering them a worthy hedge for the bear market of Bitcoin.

And all of this is happening more or less in secret, if you don't know where to look.


I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.


Dragos Roua


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NEO recently had their Amsterdam conference, and lots of new
ICOs have been announced in March and April, so it makes sense that value is shifting there.

This report clearly indicates that Alt coins are the real winners....Need to diversify in potential Alt coins...

Nice write-up, I think the dominance rate is going to bounce from 40-45% for awhile. While alts are pumping the rate goes down. When BTC recovers it goes back up.

Good time to accumulate alts for long term right now this is going to grow even higher :)

That's an interesting analysis but I would also add another potential reason.; the fact that all new ICO's require Bitcoin or Ethereum for the acquisition of the new tokens. Just one of them EOS will end up having 10% of Ethereum market cap when its year lasting ICO ends this next June.

I would say this is the normal sign of the maturity of the market. Bitcoin remains the dominant (reference) currency, but the development of applications based on the blockchain technology are driven by the altcoins. Always, when concerns are rises, people will run to Bitcoin like the Swiss Franc in the fiat market. When pressure is going down, there are no reasons to stay with Bitcoin, right?

hey mr @dragosroua thanks for giving good information as always. have a good day ... fingers crossed to btc get better :D

cheers o/

Its a good news for altcoins crypto holders....I added a little graph chart in altcoins
2018-04-16_214437.png

Cryptos are often rising and and falling. But sir @dragosroua you haved shared some important information about cryptos winner and looser. Thanks for the update.

Yes, the optimistic point is the growth of altcoins against the BTC down... need to keep Sharp eyes on the movement

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