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Cryptocurrency Market Is Becoming Even More Concentrated

May 13, 2020, 6:06 PM

While Bitcoin has dominated the headlines in the cryptocurrency market since its introduction more than a decade ago, the sector is becoming even more concentrated among it and two rivals.

Bitcoin, Tether and Ethereum accounted for about 90% of trading volume on digital-asset exchanges this year among top-10 cryptocurrencies, up from 75% a year ago, according to researcher Messari.

Messari

The change follows a deep market crash in March, when Bitcoin as well as the more than 5,000 other coins listed on crypto exchanges nosedived. Searching for safety, many investors also flocked to Tether, which is a so-called stablecoin, whose ...

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