It’s official – Bitcoin (BTC) has reached a dominance rate of 50% for the first time in 2018, making the cryptocurrency present in half of the entire cryptocurrency market capitalization.
The dominance rate rose to 50% on August 11 and indicated that the leading cryptocurrency is growing its volume. This is the first time Bitcoin reached 50 percent of the total market cap since December 19th, 2017.
Right now, Bitcoin’s market cap is somewhere around $105 billion, which is about $901 million more than the market cap of every other cryptocurrency combined.
As you can see from the chart above, Bitcoin’s dominance rate has been on a steady incline over the past few months. From May 1st to yesterday, it grew by 14% while the dominance of all other cryptocurrencies has been on the decline.
Even though the conditions are quite different when compared to December and Bitcoin’s 50% dominance rate – and the price of the leading cryptocurrency is 65% lower today – this is still some good news and proof that Bitcoin’s market is going in a positive direction.
Bitcoin (BTC) Price Holding Onto Crucial Support Levels: An Increase Is Likely
- Hourly MACD – The MACD is most likely moving back in the bullish zone in the near term.
- Hourly RSI (Relative Strength Index) – The RSI for BTC/USD has changed hands with 40 and it is currently moving higher towards 50.
- Major Support Levels – clearly the Bitcoin (BTC) price of $5,200 was followed by $5,160.
- Major Resistance Levels – now, they are set at $5,260, $5,300 and $5,330.
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“France has some nuggets on the entire value chain of new services to companies, hardware, and protocols. I am thinking in particular of Tezos and which allows the development of a blockchain protocol overcoming the known defects of public blockchains.”The Tezos price was already improving after the partnership with Coinbase crypto exchange. Both of the companies now allow institutional investors to ear passive rewards. San Francisco-based Coinbase even promised up to 6.6 percent yearly returns to the investors.
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