Altcoins now account for more of the overall cryptocurrency market capitalization than ever, edging Bitcoin towards under 50 percent control.
According to data from
Coinmarketcap, Bitcoin’s dominance currently stands at just 59.1 percent, the lowest it has ever been.
A fresh drive to boost altcoins, especially those in the top ten, has added to an already booming market. Various factors have influenced altcoins’ rise since the start of the year when Bitcoin’s market dominance was 87 percent.
The most recent reshuffle appears mostly due to Ethereum (ETH), which in the last week alone posted a surge in market cap from $4.5 bln to $7.5 bln. Its price
topped $80 as of press time.