The dominance of Ethereum (ETH) increased over the course of 2021 - after an initial decline - but was not as high as it was back in 2017. Within the crypto world, this so-called "dominance" ratio is one of the oldest and most investigated metrices available. It measures the coin's market cap relative to the overall crypto market - for instance, it shows how strong Bitcoin is compared to all the other cryptocurrencies that are not BTC, called "altcoins". In the case of Ethereum, the dominance somewhat reveals how often it is used for smart contracts and whether it is a popular blockchain for Decentralized Finance (DeFi) applications.
Ethereum (ETH) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from August 2015 to September 25, 2024
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Statista, & CoinGecko. (September 25, 2024). Ethereum (ETH) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from August 2015 to September 25, 2024 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1278159/ethereum-dominance-historical-development/
Statista, und CoinGecko. "Ethereum (ETH) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from August 2015 to September 25, 2024." Chart. September 25, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1278159/ethereum-dominance-historical-development/
Statista, CoinGecko. (2024). Ethereum (ETH) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from August 2015 to September 25, 2024. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1278159/ethereum-dominance-historical-development/
Statista, and CoinGecko. "Ethereum (Eth) Market Dominance - Its Market Cap Relative to The Market Cap of All Other Cryptocurrencies in The World - from August 2015 to September 25, 2024." Statista, Statista Inc., 25 Sep 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1278159/ethereum-dominance-historical-development/
Statista & CoinGecko, Ethereum (ETH) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from August 2015 to September 25, 2024 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1278159/ethereum-dominance-historical-development/ (last visited November 10, 2024)
Ethereum (ETH) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from August 2015 to September 25, 2024 [Graph], Statista, & CoinGecko, September 25, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1278159/ethereum-dominance-historical-development/
