• Latest
  • Trending
Bitcoin dominance hits 54% — Highest in 2.5 years as BTC halving approaches

Bitcoin dominance hits 54% — Highest in 2.5 years as BTC halving approaches

October 26, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

XRP, Shiba Inu, and More: Here are Top 6 Altcoins Priced Below $1 to Watch for Next Bull Run – The Crypto Basic

October 31, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Zodia Custody expands in Hong Kong, receives VASP in Ireland … – Tekedia

October 31, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Why Altcoins and Crypto Stocks Were Flying High Today – The Motley Fool

October 30, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Embracing the crypto evolution: Institutional adaptation and the … – Arabian Business

October 30, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Acala Spikes 5% on Binance's New Altcoin Pairs News — Can ACA … – CCN.com

October 30, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Bitcoin Spark, BNB, and Toncoin: Price Outlook in Upcoming Bull Run – CryptoPotato

October 30, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Crypto Price Today: Bitcoin holds $34,000; Ethereum slips below $1,800; most altcoins up – Business Today

October 30, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

The Next Bull Market Is Approaching: Sparking Opportunities For … – CryptoPotato

October 30, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Crypto Analyst Benjamin Cowen Says Fed Pivot and Altcoin Rallies Won’t Happen Until This Occurs – The Daily Hodl

October 29, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Litecoin Pronóstico del Precio: LTC insinúa una corrección del 15% si se cumplen estas condiciones clave – FXStreet

October 29, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Brazil's USDT adoption soars in 2023, makes up 80% of all crypto transactions – Cointelegraph

October 29, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Can Presales Like Scorpion Casino Token Match the Historic … – NewsWatch

October 29, 2023
Saturday, May 17, 2025
EGROW ONLINE
  • Home
  • Cryptocurrency
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoins
  • ADA
  • Litecoin
  • Dogecoin
  • ICO
  • Ripple
  • Market & Analysis
  • Videos
No Result
View All Result
EGROW ONLINE
No Result
View All Result

Bitcoin dominance hits 54% — Highest in 2.5 years as BTC halving approaches

by admin
October 26, 2023
in Blockchain
0


Bitcoin’s (BTC) market dominance has reached 54%, its highest in the last 30 months, indicating the top cryptocurrency is strengthening just before the halving event scheduled for April 2024.

The Bitcoin halving is an event in which the mining reward per block is halved, thus cutting the supply of the asset amid growing demand and leading to bullish price momentum. The Bitcoin halving occurs every four years, and the next halving in 2024 will reduce the BTC mining reward from the current 6.25 BTC to 3.125 BTC. As the total supply of Bitcoin is fixed at 21 million, the halving of BTC mining rewards creates a supply-demand gap that lowers the influx of new BTC into the market.

Bitcoin market dominance is a measure of the crypto asset’s market capitalization relative to the overall digital asset market and highlights the asset’s strength. The market dominance of over 50% is considered highly bullish and marks its highest point since the last bull run in April.

Bitcoin market dominance chart. Source: TradingView

Bitcoin’s market dominance began reviving at the start of October, when it rose from below 49% to reach this new two-and-a-half-year high. October has been historically considered a bullish crypto month, leading to the nickname “Uptober.” This was evident from Bitcoin’s double-digit percentage surge over the past few weeks, helping BTC rise from just below $27,000 at the start of October to post a new yearly high of $35,000.

Uptober has been great, but the party may not be over just yet.

November is historically #Bitcoin‘s best performing month. pic.twitter.com/kaMMt7pgZz

— Miles Deutscher (@milesdeutscher) October 25, 2023

In 2017, Bitcoin maintained a market dominance of over 80%, followed by Ether (ETH) with nearly 10%–17% in market dominance. Over the years, Bitcoin has seen a steep decline in its market dominance owing to the rise in the number of cryptocurrencies and the growth of several new tokens during the last bull run in 2021.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: Can you trust crypto exchanges after the collapse of FTX?



Source link

YOU MAY ALSO LIKE

What do the Long-Term Technicals Predict for Blockchain Cuties Universe Governance (BCUG) Sunday? – InvestorsObserver

SBF takes the stand, ‘buy Bitcoin’ searches soar and other news: Hodler’s Digest, Oct. 22-28

Tags: ApproachesBitcoinBTCdominanceHalvingHighesthitsYears
ShareTweetPin

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

XRP, Shiba Inu, and More: Here are Top 6 Altcoins Priced Below $1 to Watch for Next Bull Run – The Crypto Basic

October 31, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Zodia Custody expands in Hong Kong, receives VASP in Ireland … – Tekedia

October 31, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Why Altcoins and Crypto Stocks Were Flying High Today – The Motley Fool

October 30, 2023

Recent News

Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

XRP, Shiba Inu, and More: Here are Top 6 Altcoins Priced Below $1 to Watch for Next Bull Run – The Crypto Basic

October 31, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Zodia Custody expands in Hong Kong, receives VASP in Ireland … – Tekedia

October 31, 2023
Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases – Yahoo Finance

Why Altcoins and Crypto Stocks Were Flying High Today – The Motley Fool

October 30, 2023

Categories

  • ADA
  • Altcoins
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • ICO
  • Litecoin
  • Market & Analysis
  • Ripple
  • Videos

Follow Us

Find Via Tags

Ada Altcoin altcoins analysis Analyst Analytics Big Binance Bitcoin Blockchain BNB BTC Buy Cardano Coin Cointelegraph Crypto cryptocurrencies Cryptocurrency Digital DOGE Dogecoin ETH Ethereum finance Heres Insight Inu investors Litecoin LTC market Network news Prediction price Ripple SEC Shiba Solana Today Token Top week XRP
  • privacy And Policy
  • About Us

© 2020 Egrow Online

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoins
  • ADA
  • Litecoin
  • Dogecoin
  • ICO
  • Ripple
  • Market & Analysis
  • Videos

© 2020 Egrow Online