Cryptocurrency market update: Bitcoin real market dominance is 90% leaving altcoins with a mere 10%
|- To get the real market value for Bitcoin’s dominance, liquidity cannot be ignored.
- The real Bitcoin dominance is 20% higher than what is currently accepted in the industry.
New research is showing some interesting features regarding the total market capitalization in the cryptocurrency market. The report published by Forbes on August 22 claims that Bitcoin has a 90% dominance in the market.
This is a divergent revelation as most data aggregators place Bitcoin dominance at 70% leaving altcoins with 30%. However, the new report from Arcane Research says that theirs is the real value.
Arcane Research argues that to get the real market value for Bitcoin’s dominance, liquidity cannot be ignored.
“One might be able to sell one token for 3 dollars, but what happens if you want to sell 1 million? Without accounting for liquidity, market capitalization becomes a meaningless measure,” Arcane Research wrote.
Read also: Bitcoin will be worth a lot more in 5 years: Spewncer Bogart to Bloomberg
With this in mind, the researches utilized trading volume as an indicator of dominance. However, the researchers said that there is a need for a complex measure that can be used to get more granular results.
Bitcoin price update
Bitcoin price has remained largely unchanged compared to the recently published price analysis. The several attempts are still failing tom sustain gains above $10,000. If this continues, Bitcoin risks plunging lower as bulls lose interest in the battle.
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