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Ethereum, XRP, Dogecoin, and Other Alts Push Bitcoin's Dominance to Lowest Level Since August 2018

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Thu, 04/22/2021 - 06:10
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Alex Dovbnya
Bitcoin's market dominance is on the verge of collapsing below 50 percent
Ethereum, XRP, Dogecoin, and Other Alts Push Bitcoin's Dominance to Lowest Level Since August 2018
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Bitcoin's dominance has now slipped to its lowest level since August 2018, coming dangerously close to dropping below the psychologically important level of 50 percent. 

On Apr. 21, the market share of the largest cryptocurrency touched 50.7 percent for the first time since Aug. 7, 2018. It has plunged 31 percent from its January peak of 73 percent.  

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Image by tradingview.com

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JPMorgan Warns About Collapsing Bitcoin Momentum

Ethereum, the largest altcoin, Ripple-affiliated XRP as well as meme cryptocurrency Dogecoin are all chipping away at Bitcoin's dominance as investors are chasing monstrous returns during yet another cryptocurrency frenzy.      

While Bitcoin is up 790 percent over the last year, Dogecoin and Binance Coin are up over 15,000 percent and 3,000 percent, respectively. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.