Bitcoin’s domination of total cryptocurrency market value is declining as its next-biggest rival Ether reaches the $3,000 milestone, suggesting room for more than one winner among digital tokens as the sector evolves.

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

Bitcoin remains the biggest cryptocurrency but the momentum in other tokens is drawing increasing interest, such as Ether, which breached $3,000 for the first time Monday after quadrupling this year. Crypto proponents argue investors are getting more comfortable with a variety of tokens, while critics contend the sector may be in the grip of a stimulus-fueled mania.

(Excerpt) Read more Here | 2021-05-02 19:13:00
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