Bitcoin Crypto Dominance Diminishes As Ether Rises Past $ 3,000


Bitcoin’s dominance of the total cryptocurrency market value is waning as its second-largest rival Ether hits the $ 3,000 milestone, suggesting there is room for more than one winner among digital tokens as the industry evolves.

The largest digital currency now accounts for about 46% of the total crypto market value of $ 2.3 trillion, up from about 70% at the start of the year, according to tracker CoinGecko. The second placed Ether is until 15% and a group of others outside the top doubled their share to 36% in the same period.

Bitcoin remains the largest cryptocurrency, but momentum in other tokens is increasingly attracting interest, such as Ether, which first surpassed $ 3,000 on Monday after quadrupling this year. Cryptocurrencies advocates argue that investors are more comfortable with a variety of tokens, while critics argue that the industry may be in the throes of an incentive-fueled mania.

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