share of Global crypto Market cap
- Green area: Total market cap of all network coins outstanding, in US$;
- Blue line: Network market cap as % of global crypto market cap, in US$;
- White line: All-time average of blue line.
share of Global crypto Market cap explained
The charts above yield insight into the relative strength of each cryptocurrency's market cap, compared to others and compared to the global market cap of all cryptocurrencies combined. As the first cryptocurrency ever, with the largest network effect, Bitcoin is the clear leader when it comes to most metrics, no less so concerning its share of the global cryptocurrency market cap. Though it has many competitors, Bitcoin has become a digital gold-like commodity that deserves serious consideration from merchants, users and savers around the globe.
Bitcoin has spawned an entire industry—blockchain tech. But it is turning heads in areas well beyond finance, from gaming companies to law firms to entire nation-states. The best part of all this is, even if Bitcoin is supplanted by another blockchain or a newer technology in the future, that will mean that the world will be getting something better than Bitcoin is today. This is a good thing. The author is not saying this will happen, but the fact that it could happen is good for society.