Bitcoin dominance, or the ratio of the largest cryptocurrency’s value to the overall market capitalization of digital assets, slipped below 50% for the first time since 2018, according to the data sites CoinMarketCap.com and CoinGecko.
The ratio was 48% as of 15:44 coordinated universal time (11:44 a.m. ET) and came as ether, the native cryptocurrency of the Ethereum blockchain and the second-largest overall, surged to a new all-time high.
Bitcoin’s market value is about $1.02 trillion, versus about $2.13 trillion for CoinGecko’s universe of 6,816 digital coins. Ether’s share of the market capitalization is about 14%, CoinGecko data shows.
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