Bitcoin’s [BTC] market dominance back at ~55% as transactions cross 50,000 for first time since April 2018

2019-4-27 00:30

Bitcoin [BTC], the world’s largest cryptocurrency, found resurgence earlier this month after a sudden surge pushed the king coin’s valuation above the $5,000 mark, before crossing $5,300 shortly after. The collective market followed its pace and climbed to short-term highs after breaking their respective immediate resistances, leading many crypto-enthusiasts to mark the event as the end of crypto winter.

Following the surge, Bitcoin maintained its position in the market, before dipping briefly on April 25-26 due to the Bitfinex-Tether fiasco. With the current market scenario being branded as the altcoin season, Bitcoin’s market dominance had gone for a toss after altcoins dictated market movements, up until the sharp hike BTC prices in early April. In March, Bitcoin’s market dominance had been between 45% and 50% for a majority of the time.

However, with the coin returning to its throne, a new Long Hash report has suggested that Bitcoin was finally in control of the market. This was further confirmed by the crash on April 25, following a brief dip in BTC prices.

According to CoinMarketCap, Bitcoin’s market dominance was around 54.76% at press time, well above its average between January and April. This observation was made in tandem with another development, a spike in Bitcoin transactions. According to Long Hash, the number of Bitcoin transactions spiked considerably this month.

Source: Long Hash/CoinMarketCap

Bitcoin transactions crossed 50,000 this month, only for the second time in over a year. According to data collected by Blockchain.com, Bitcoin saw a total of 64,424 [unconfirmed] transactions on April 24 for the first time since April 2018. In 2018, during the same period, the number of transactions crossed 75,000.

This increase in the amount of transactions and market dominance is of huge importance as Bitcoin has not achieved 60% market dominance since December 2017. This was during Bitcoin’s dream run to $20,000.

Source: Long Hash

This shift in dominance also meant that Ethereum, the second largest coin, was losing its market share. At press time, Ethereum had barely 10% market dominance, while XRP had a market dominance of 7.21%.

The post Bitcoin’s [BTC] market dominance back at ~55% as transactions cross 50,000 for first time since April 2018 appeared first on AMBCrypto.

origin »

Bitcoin (BTC) на Currencies.ru

$ 94091.48 (-0.63%)
Объем 24H $51.901b
Изменеия 24h: -0.39 %, 7d: -5.09 %
Cегодня L: $91951.2 - H: $95752.95
Капитализация $1863.372b Rank 1
Цена в час новости $ 5264.75 (1687.2%)

bitcoin btc market april mark 2018 time

Источник: ambcrypto.com

bitcoin btc → Результатов: 126


Фото:

El Salvador now holds 6,000 BTC: can Bitcoin success story sustain?

El Salvador, the pioneering nation that made Bitcoin legal tender in 2021, has surpassed 6,000 BTC in its treasury, valued at $561.3 million as of the latest update. This milestone represents not only a strategic accumulation effort but also a bold economic experiment under President Nayib Bukele’s leadership. With a 105% unrealised return on its […]

2024-12-30 09:51


Фото:

El Salvador rings in Christmas 2024 with a Bitcoin twist

El Salvador continues to showcase its unwavering commitment to Bitcoin, doubling down on its cryptocurrency strategy despite stringent restrictions imposed by the International Monetary Fund (IMF). On 19 December 2024, the country purchased an additional 11 Bitcoin (BTC), valued at over $1 million, pushing its total reserves to nearly 6,000 BTC. This comes on the […]

2024-12-24 17:26


Фото:

Bitcoin Rally Set To Extend? Expert Foresees A $110,000 Price Target For BTC

The general cryptocurrency community is brewing with excitement and optimism following Bitcoin’s rally to a new all-time high on Monday. Despite the significant price growth, there are speculations that the uptrend may not be ending anytime soon, suggesting BTC’s potential for more increases to higher levels or milestones. Next Big Milestone For Bitcoin On The […]

2024-12-17 17:30


3 tokens on track for new all-time highs like Tron (TRX) and Bitcoin (BTC)

The crypto market has witnessed a number of tokens rallying toward new all-time highs (ATHs), including notable players like Bitcoin (BTC) and Tron (TRX). Despite some setbacks, such as the US government transferring nearly $2 billion worth of Bitcoin, BTC has remained resilient, triggering a massive impulsive move that saw it reach an ATH of […] The post 3 tokens on track for new all-time highs like Tron (TRX) and Bitcoin (BTC) appeared first on CoinJournal.

2024-12-15 21:58


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

FET nears breakout: Could a 20-30% rally be next?

FET consolidates near $1.33 as traders eye a breakout above $1.38 resistance. On-chain activity surges, while technical indicators and liquidations suggest potential bullish momentum. ArtifiThe post FET nears breakout: Could a 20-30% rally be next? appeared first on AMBCrypto.

Hyperliquid reaps the benefit as Bitcoin, altcoins take a backseat

Hyperliquid, when stacked against its rivals, it stands out as the future of crypto fee generation. With its unique integration of spot & derivatives exchanges, Hyperliquid is truly settingThe post Hyperliquid reaps the benefit as Bitcoin, altcoins take a backseat appeared first on AMBCrypto.

Gate Token booms 23% in 7 days: Will GT hit new highs or correct to $13.9?

While GT’s price increased, its social metrics also improved.  Selling pressure on the token increased, which could cause a price correction soon.  Gate Token [GT] has showcased impeccabThe post Gate Token booms 23% in 7 days: Will GT hit new highs or correct to $13.9? appeared first on AMBCrypto.