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Bitcoin’s Share of $350 Billion Crypto Market Highest Since 2017

Bitcoin has done it again, hitting a new 2019 high at $11,788, before retracing slightly.

At 21:00 UTC on June 25, the world’s largest cryptocurrency by market capitalization broke from sideways trading after being held beneath $11,400 for over 11 hours.


However, perhaps most notable is the fact that bitcoin also crossed above 60 percent market dominance for the first time in over 17 months.


A metric maintained by data provider CoinMarketCap, the Bitcoin Dominance Index shows bitcoin continues to gain altitude at a time when broader confidence in the crypto market, now nearly $350 billion, has yet to return.


The move to fresh 2019 highs is further a welcome sight for the bulls who continue to enjoy the incredible 230 percent gains experienced from the beginning of this year.


Notably, the price rally was also accompanied by an uptick in the 24-hour trading volume as an increase of $13.8 billion was added overall, according to data from CoinMarketCap.


However, its “Real 10” volume – a metric that takes into account trading volume from exchanges reporting honest volume figures as identified in a report by Bitwise Asset Management, is delivering more sober results, currently standing up $4.09 billion, according to Messari .io.

Read More at CoinDesk...

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