Crypto Update: This Major Coin Could Bounce

It is time to update the crypto charts as I spotted one strong alert in a major coin for you. Let me start with the charts showing the balance of power in the crypto-sphere. The two majors will be first…

Bitcoin vs EthereumSource: TradingView

In spite of the so-called “crypto-winter” in the market, these two mastodons have kept their stranglehold on both individual and combined market share.

Bitcoin’s market share (orange bars) remains stable at 40% of the market no matter what. However, it is located on the downside of the range as other coins have taken their place in the sun. The all-time low was recorded at 35% in distant 2018.

Ethereum’s dominance (black bars) is also solid at 18%. It saw a high market share of 31% at the beginning of its life. Currently, it is exactly in the middle of the range. It’s worth noting that moving to a new proof-of-stake (PoS) mechanism didn’t add power to the second largest coin so far.

The combined market dominance is solid, hovering around 60%.

Let us move on to the rest of the top ten list excluding stable coins.

Top Coins Excluding Stable CoinsSource: TradingView

Binance’s native cryptocurrency (BNB, green line) hit the charts as it rose to #4 spot despite not being a crypto-coin in a traditional sense since it is used as a “fuel” for exchange transactions. Its market dominance of 6.3% stands at the highest close reading ever. The rise of Binance’s exchange and the activity of its traders are driving the demand for this coin, which is beyond the reach of the remaining cohort.

Ripple (XRP, black line) had its best year ever with a market share of…

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