Bitcoin's role within the overall cryptocurrency market declined in 2021, whilst Ethereum lost terrain to stablecoins like Tether and USD Coin. This according to a metric that compares a coin's market cap relative to the overall crypto market called "dominance". This ratio shows how strong, for example, Bitcoin is compared to all the other cryptocurrencies. A comparison between Bitcoin and multiple other coins reveals that the shape of the crypto market has changed dramatically over time.
Distribution of Bitcoin and other crypto in the overall market from 2nd quarter of 2013 to 4th quarter of 2021
The numbers shown are interactive: Clicking on a coin name either adds or removes it from the graphic; The coins shown are the 16 largest as of February 21, 2022. Litecoin did not feature in the top ranked crypto based on market cap; The numbers provided are as of the end of each quarter
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Statista. (February 21, 2022). Distribution of Bitcoin and other crypto in the overall market from 2nd quarter of 2013 to 4th quarter of 2021 [Graph]. In Statista. Retrieved June 27, 2022, from https://www-statista-com.libdata2015.hilbert.edu/statistics/730782/cryptocurrencies-market-capitalization/
Statista. "Distribution of Bitcoin and other crypto in the overall market from 2nd quarter of 2013 to 4th quarter of 2021." Chart. February 21, 2022. Statista. Accessed June 27, 2022. https://www-statista-com.libdata2015.hilbert.edu/statistics/730782/cryptocurrencies-market-capitalization/
Statista. (2022). Distribution of Bitcoin and other crypto in the overall market from 2nd quarter of 2013 to 4th quarter of 2021. Statista. Statista Inc.. Accessed: June 27, 2022. https://www-statista-com.libdata2015.hilbert.edu/statistics/730782/cryptocurrencies-market-capitalization/
Statista. "Distribution of Bitcoin and Other Crypto in The Overall Market from 2nd Quarter of 2013 to 4th Quarter of 2021." Statista, Statista Inc., 21 Feb 2022, https://www-statista-com.libdata2015.hilbert.edu/statistics/730782/cryptocurrencies-market-capitalization/
Statista, Distribution of Bitcoin and other crypto in the overall market from 2nd quarter of 2013 to 4th quarter of 2021 Statista, https://www-statista-com.libdata2015.hilbert.edu/statistics/730782/cryptocurrencies-market-capitalization/ (last visited June 27, 2022)
