WHAT is BTC Dominance and USDT?
1. BTC Dominance (55.47%): This indicates that Bitcoin represents 55.47% of the total cryptocurrency market capitalization. A higher BTC dominance typically suggests a preference for Bitcoin over altcoins, possibly reflecting market confidence in Bitcoin as a store of value or its leading position in the crypto space.
2. USDT Dominance (7.25%): This shows that Tether accounts for 7.25% of the total cryptocurrency market cap. USDT dominance is often linked to market liquidity, as Tether is widely used for trading and hedging in the crypto market. An increase in USDT dominance may suggest a risk-off sentiment where investors are moving to stable assets.
The charts show trends over time for these dominances, with fluctuations reflecting changes in market preferences and sentiment.
