Bitcoin's market cap share reaches highest level since April 2021
According to Coinglass, long positions on centralized exchanges were worth more than $757 million on Saturday, but Bitcoin positions were only $261 million. While most crypto assets do fall into the "risky" category for traders, Bitcoin is arguably the risk-minimizing cryptocurrency, with the largest market capitalization and a proven track record of institutional adoption. Additionally, something like Dogcoin adds to the speculative nature, as Bitcoin's dominance (i.e., Bitcoin's market capitalization relative to the total market capitalization of all cryptocurrencies) jumped 52.86% from Friday's highs to Saturday's Sunday, its highest level since April 2021.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pay Close Attention to This Level in XRP: “If It Rebounds, It Will Do So From Here”
Pay Close Attention to This Level in XRP: “If It Rebounds, It Will Do So From Here”
Analyst Who Called Recent 50% XRP Rally Shares Fresh Prediction and Next Targets
AAVE Price Eyes $160 After V4 Deposits Top $900M
Crypto prices
More
