Bitcoin, stablecoins and smart contract altcoins dominance increases while ETHD falls

According to confirmed data from Coingecko, the crypto economy consists of 12,622 coins traded on 543 exchanges with a total capitalization currently over $2 trillion. Since the market collapse, Bitcoin (BTCD) dominance has cautiously increased while Ethereum (ETHD) dominance has declined.

Bitcoin and Ethereum market dominance rate | Source: Coinecko

On January 6, 2022, BTCD fell to a three-year low (37.7%) since June 3, 2018. The index rose to 38%, while ETHD fell 17.7% from 18.6%.

Countless other altcoins have seen a change in market dominance and Binance Coin (BNB) on the Binance exchange has a market dominance (MDR) of around 3.37%. Tether (USDT) follows at 3.35% and Cardano (ADA) at 2%.

USDC stablecoin MDR is currently at 1.95% and Solana’s SOL at 1.85%. XRP’s capitalization accounts for 1.51% of today’s crypto market economy. It is followed by Terra (LUNA) with 1.22% and Polkadot (DOT) with 1.03%.

The $173 billion total capitalization of stablecoins accounts for 8.3%, and the $738 billion smart contract platform represents 35.36% of the crypto economy.

The $11.8 billion capitalization of privacy coins represents about 0.56% of the crypto economy’s net worth. However, Memecoin accounts for 2.15% with a market cap of $45 billion.

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