Dollar Reserves Surpass Bitcoin’s Dominance

trump 90s

Bitcoin’s dominance has fallen to 61% of all cryptos, that being the lowest in a year and may fall more. Ethereum is the chief culprit, gaining significantly in value against bitcoin and against the dollar recently on the back of defi and staking awaiting. Look at Tether there, the USD backed token, with other usds too like dai, which has jumped to $400 million, making the dollar’s market share here probably 4% or even 5%. But in its own turf, the dollar has 61.99% of all currency reserves across the globe, with it rising to now close to $6.8 trillion. So in a very, very curious mirror, bitcoin’s dominance there is 3.17% at $216 billion, and that of all cryptos is about 5% at $356 billion. Wow! This is the first time we look at this data, so it’s not clear whether there is a correlation, but the literal mirroring…

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