The so-called Bitcoin realized market cap is with new gains, becoming the latest indicator that flashes bullish for BTC as the most dominant cryptocurrency. In fact, new data revealing the extent of altcoins’ losses in the altcoin news showed that the realized market cap for BTC is now at record highs.
The data pulled by the major data aggregator Coinmetrics.io on August 25 is calculated from multiplying the price that each Bitcoin has and last traded with by the size of each trade. If we see it like this, the figure for Bitcoin passed $100 billion on Sunday. Described as the Bitcoin realized market cap, this is basically an alternative calculation of Bitcoin’s market capitalization.
What’s interesting in the latest cryptocurrency news is that the achievement is just one more in a string of near-constant records that Bitcoin is making. Recently, the coin posted all-time highs in areas such as hash rate and daily trading volumes.
The cryptography pioneer Nick Szabo added that the Bitcoin realized market cap progress comes in tandem with some of the lowest volatility that was seen on the Bitcoin network since 2012. As he commented when talking about this metric:
“The long-term chart reflects the superior deep safety, global seamlessness, and monetary soundness of Bitcoin.”
Many best cryptocurrency news sites showed that if taken using realized cap focusing on trading volume as well as liquidity, some claim that Bitcoin and its total market dominance in fact lie above 90% – which is far more than the 70% predicted by the cryptocurrency data aggregators.
However, the coming altcoin news show that there is pressure on altcoins which is continuing to mount. Another report from Coinmetrics showed that most major tokens lost significantly against BTC this year – even despite the fact that they had previously beaten the performance of the coin.
Aside from the Bitcoin realized market cap gains, we can see that Bitcoin Cash (BCH), Zcash (ZEC), Stellar (XLM) and Ether (ETH) have been the biggest losers, while Binance Coin (BNB) was easily an investment of choice. For those of you who don’t know, the native token of the famous cryptocurrency exchange Binance is up by 44% against BTC since August 2018.
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