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Post-Halving – Bullish Bitcoin dominates crypto as Dollar does in FIAT

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The leading cryptocurrency Bitcoin (BTC) suffered a massive slump a few days before the halving and corrected from just under $10,000 to just under $8,300. Within 48 hours after the halving on 12 May 2020, the BTC rises strongly again. With the publication of this article, it oscillated around $9,600 again and seems ready to break out upwards (Source: CryptoCompare).

Whether this post-halving rise heralds the next phase of the bull run and actually climbs towards $300,000, as some experts claim, remains to be seen.

The cryptocurrency sector is currently dominated by the BTC. With a market capitalization of more than $176 billion, BTC reigns the crypto scene like the US Dollar does in the FIAT realm. The total crypto market capitalization currently amounts to $260 billion and thus the BTC accounts for more than 70%. Ether (ETH) is far behind with currently more than $22 billion (9.1%) and stablecoin tether (USDT) with around $8.8 billion (3.9%), says the Messari crypto screener.

Bitcoin, Tether, and Ethereum also accounted for about 90% of trading volume on crypto exchanges in 2020 among top-10 cryptocurrencies, up from 75% a year ago, according to Messari screener.

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