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Crypto Market Sets New High as Bitcoin Dominance Drops to Historic Low
The cryptocurrency market sets all-time-high above $660 billion while bitcoin dominance dropped to its historic low.
By Wolfie Zhao
Updated Sep 13, 2021, 7:19 a.m. Published Jan 2, 2018, 6:45 p.m.
The cryptocurrency market appears to be starting the new year off by cementing a recovery.
At press time, the total value of the more than 1,300 publicly traded cryptocurrencies, as listed by data CoinMarketCap, set a new all-time high of $667 billion. As such, it's the latest sign that the entire cryptocurrency market has recovered from a correction on Dec. 22, when the market plunged more than 30 percent from around $648 billion to $422 billion.
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Still, what's most notable about the rally is that data shows the world's largest cryptocurrency may not be a large contributor. Bitcoin's dominance, or its share of the total market cap, has now dropped to an all-time-low. Data suggests the value of all bitcoins is currently accounting for 35.6 percent of the entire marketplace.
Indeed, the metric saw a rather turbulent movement in 2017, having decreased sharply from over 80 percent to 37.46 percent in June. This was followed by a six-month bounce-back to 65 percent around early December.
Data from the market's overnight session (0:01~6:00 UTC), morning session (06:01~12:00 UTC) and afternoon session (12:01~18:00) suggest part of that decline may be due to rising interest in the broader cryptocurrency markets. Just one digital asset, TRON, was a top performer in more than one session, hinting capital may be moving quickly between options in search of gains.
Hot air balloon image via CoinDesk archive
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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