Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin, Ether and Stablecoins Total 80% of $1T Crypto Market Cap as Investors Flee Altcoins

Bitcoin, Ether and Stablecoins Total 80% of $1T Crypto Market Cap as Investors Flee Altcoins

CoindeskCoindesk2023/06/14 14:34
By:Krisztian Sandor

The combined market capitalization of BTC, ETH and stablecoins reached the highest level since February 2021, digital asset research firm K33 Research noted.

The dominance of bitcoin (), ether () and in the crypto market surged to its highest level since February 2021 as investors after last week’s .

The combined market capitalization of the two largest digital assets and stablecoins compose 80.5% of the total cryptocurrency market at some $1 trillion, digital asset research firm K33 Research noted in a Tuesday.

Altcoins – an umbrella term for alternative cryptocurrencies – suffered a dramatic sell-off last week as the U.S. Securities and Exchange Commission (SEC) deemed multiple tokens securities in lawsuits against crypto exchanges Binance, and Coinbase. Top 10 crypto assets such as Binance’s , Cardano’s and Solana’s – all tagged as securities in the lawsuits – of their value over the week.

If the SEC’s allegation about a slew of tokens being securities are proven right, token issuers and exchanges would face a mounting burden to register with the SEC. Popular retai l trading platforms and have decided to end U.S. trading for some tokens flagged by the SECs, while market makers have likely in anticipation of lower trading demand.

The legal battle could drag on for years, K33 wrote, impeding capital inflows to the assets under SEC scrutiny and propelling the investment case for BTC and ETH as safer bets from regulatory risks.

CoinDesk - Unknown

“Funds will likely retort to a hands-off approach due to excess compliance work and overall low trading volumes, disincentivizing market participants to engage. This could limit liquidity further onwards and lead to a prolonged slow market,” K33 wrote.

“Over the next year, we could thus see the BTC and ETH dominance strengthen further due to the cost and risk burden of allocating capital to altcoins from the 2017 era and beyond,” the report added.

The two leading cryptos have outperformed smaller tokens this year so far, preserving much of their gains from this year’s crypto market recovery. and are up 57.3% and 45.4% year-to-date, respectively, according to CoinDesk data.

Other cryptocurrencies, however, dropped to new yearly lows, with and tumbling 2.7% and 15%, respectively, since the start of the year.

Edited by James Rubin.

185

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

VIPBitget VIP Weekly Research Insights

Stablecoins have recently emerged as a key focus for central banks and financial institutions, with the potential to reshape global payment systems and financial infrastructure. According to data from Chainalysis, stablecoins have surged to a monthly trading volume of trillions of dollars, accounting for 60% to 80% of total cryptocurrency trading volume. This explosive growth has attracted significant attention from traditional financial players, who are accelerating their integration into the digital economy by issuing stablecoins, contributing to blockchain network development, and offering related financial services. In the U.S., financial giants such as JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are exploring the potential of jointly issuing stablecoins. At the same time, regulatory discussions surrounding stablecoins and the proposed GENIUS Act are gaining significant momentum in mainstream media. In the Web2 world, traditional companies like Stripe have entered the space by acquiring Bridge to build out stablecoin payment capabilities. Meanwhile, Circle has emerged as one of the most influential crypto firms in the U.S. stock market, second only to Coinbase, driven by the success of its USDC stablecoin. In the DeFi space, Yield-Bearing Stablecoins (YBS) are drawing substantial capital inflows with their innovative interest-generating mechanisms.

Bitget VIP2025/07/24 11:00
Bitget VIP Weekly Research Insights

VIPBitget VIP Weekly Research Insights

Real World Assets (RWAs) bring real-world financial instruments such as bonds, real estate, and credit onto the blockchain, enabling tokenization, programmability, and global accessibility of traditional financial assets. With U.S. interest rates peaking, monetary policy turning dovish, and ETFs paving the way for institutional capital to enter the crypto space, RWAs have emerged as a leading theme capturing growing institutional attention.

Bitget VIP2025/07/04 09:33
Bitget VIP Weekly Research Insights

VIPBitget VIP Weekly Research Insights

The Base chain has recently seen several major strategic developments: Coinbase has integrated DEX routing for Base on its main app, bridging the gap between CeFi and DeFi liquidity; Shopify has partnered with Base to expand real-world applications and user access points. At the same time, Circle and Coinbase stocks have surged by over 700% and 50% respectively, creating a wealth effect that may spill over into the Base ecosystem—boosting both its TVL and token prices. Recommended projects include: 1) AERO (Aerodrome)—The leading DEX on Base, showing strength despite market downturns; well-positioned to benefit from Coinbase integration. 2) BRETT—A flagship memecoin on Base with over 840,000 holders; likely to lead the next Base memecoin rally. 3) New tokens on Bitget Onchain—Offer early access to emerging Base memecoins while helping users avoid high-risk tokens.

Bitget VIP2025/06/27 10:33
Bitget VIP Weekly Research Insights