Market Dominance
Cryptocurrency market dominance shows the market share of different cryptocurrencies.
What is Market Dominance?
Market dominance is a metric that measures the market share of different cryptocurrencies. It is calculated by dividing the market capitalization of a particular cryptocurrency by the total market capitalization of all cryptocurrencies. The resulting value is expressed as a percentage, indicating the relative size of the cryptocurrency compared to the overall market.
Dominance = (Market Capitalization of a Particular Cryptocurrency / Total Market Capitalization of All Cryptocurrencies) × 100
Market dominance can be used to analyze the market sentiment and potential price movements in the cryptocurrency market. For example, if a particular cryptocurrency has a high market dominance, it may indicate that investors are bullish on that cryptocurrency and may be driving up its price. Conversely, if a cryptocurrency has a low market dominance, it may indicate that investors are bearish on that cryptocurrency and may be driving down its price.
