Ether hits $3,000 as Bitcoin’s dominance declines

SourceThe National
SectorFinancial Markets
CountryMiddle east

Bitcoin’s domination of the total cryptocurrency market value is declining, suggesting room for more than one winner among digital tokens as the sector evolves.

The largest digital currency now accounts for about 46 per cent of the total crypto market value of $2.3 trillion, down from roughly 70 per cent at the start of the year, according to tracker CoinGecko. Second-ranked Ether is up to 15 per cent and a group of others outside the top few has doubled its share over the same period to 36 per cent.

Bitcoin remains the biggest cryptocurrency but the momentum in other tokens is drawing increasing interest,

...read more...