TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Bitcoin's market dominance grew by 10.4% in Q2 2019 - Research

  • Bitcoin's market share increased significantly as the coin benefitted from Libra hype.
  • EOS and Ripple's XRP turned out to be the main losers.
Bitcoin's market dominance grew by 10.4% in Q2 2019 - Research
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

Bitcoin dominance grew by 10.4% in the second quarter of 2019, the recent research of CoinGecko showed. The market share of the first cryptocurrency increased from 54.6% to 66.6 in the specified timeframe, which is no surprise as its value grew from $4,103 to $10,888.

Meanwhile, EOS and XRP appeared to be the biggest losers. Both coins shed nearly half of their market dominance. Ripple's market share decreased from 9.8% to 5.7%, while EOS market dominance reduced to 2.0% from 3.3% during the second quarter.

The price charts confirm the results of the research as Bitcoin turned out to be the primary beneficiary of Facebook's Libra announcement. However, the increased regulatory scrutiny of the project dampened the enthusiasm and pushed the coin off the recent high.

At the time of writing, BTC/USD is changing hands at $10,470, with over 8% of gains registered in recent 24 hours. The cryptocurrency jumped by 13% in a single hour on Thursday amid further developments surrounding Libra.

Top-20 altcoins are also recovering with day-on-day gains ranging from 2% to 12%.
 

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Editor's Picks

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave. This political shift in the US has triggered sharp price swings across the cryptocurrency market.

Ripple nears oversold territory as traders eye buying opportunities

Ripple nears oversold territory as traders eye buying opportunities

Ripple remains structurally capped near $1.20 after selling pressure wiped out the early-week rise to $1.34, driven by the US midterm elections. Market participants exhibited regulatory concerns ahead of the Democrats taking control of Congress in January, with many repositioning and adjusting their portfolios.

Bitcoin Weekly Forecast: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin Weekly Forecast: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin is down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. A sharp sell-off in US technology stocks reversed Bitcoin’s post-election rally on Thursday, triggering a wave of liquidations across the market and intensifying bearish pressure.

Post-US midterm elections market sell-off weighs on PI

Post-US midterm elections market sell-off weighs on PI

Pi Network (PI) continues to attract sellers, as the post-US midterm results triggered a sell-off in the US tech stock market and also wiped out over $1 billion from the crypto market.

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.