# Bitcoin Dominance: BTC Share of Crypto Market Cap

> Bitcoin dominance by day: BTC's share of total crypto market cap, with ETH dominance and stablecoin dominance, from supply read on-chain and named prices.

Markdown copy of https://voltfincrypto.com/apps/bitcoin-dominance

**Question:** What share of total crypto market value does bitcoin hold today, and how has it changed?

- Kind: Dashboard in Voltfin Vantage
- Topic: [Markets and trading](https://voltfincrypto.com/topics/trading)
- Chains: Multi-chain, Bitcoin, Ethereum
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

Bitcoin dominance is bitcoin's market cap divided by the market cap of every crypto asset together. It rises when bitcoin outgrows the rest of the market and falls when other assets grow faster, or when bitcoin's price falls more than theirs. Traders read it to judge whether money is concentrating in bitcoin or spreading out.

Both halves of the ratio are built here from parts you can check: bitcoin's supply from its issued block subsidies, ether's from issuance minus burn, stablecoins' from their token contracts and prices from on-chain oracles. The total market cap of every other asset still needs an off-chain reference, and the dashboard names it.

Read dominance with its parts. Stablecoins count in the denominator, so when holders move into stablecoins, bitcoin dominance can change without any change in bitcoin itself; the dashboard shows it with and without them. Each day's ratio opens to the supply and price reads behind it.

## Blueprint

### Today

Dominance on the latest complete day and over the selected period.

- **Bitcoin dominance** (%): Bitcoin's market cap as a share of total crypto market cap on the latest complete day.
- **Bitcoin dominance, ex-stablecoins** (%): Bitcoin's share of the total once stablecoin market cap is taken out of the denominator.
- **ETH dominance** (%): Ether's market cap as a share of total crypto market cap on the same day.
- **Stablecoin dominance** (%): The combined market cap of tracked stablecoins as a share of the total on the same day.
- **Dominance over time** (%): Bitcoin, ether and stablecoin dominance by day over the selected period, with bitcoin also shown ex-stablecoins.

### Parts

The market caps behind each share.

- **Bitcoin market cap** (USD): Bitcoin supply at the day's last block times the oracle BTC/USD price.
- **Total crypto market cap** (USD): The sum of every asset in the denominator, with the part taken from the off-chain reference shown apart.
- **Share of the total** (%): The total split into bitcoin, ether, stablecoins and every other asset on the latest day.
- **Market caps by group** (USD): Bitcoin, ether, stablecoins and other assets by day, stacked to the total that dominance divides by.

Filters: Period (Last 30, 90 or 365 days, or all history).

## How it will be measured

- Bitcoin market cap is the cumulative block subsidy through the day's last block, times the Chainlink BTC/USD price at the matching Ethereum block.
- Ether market cap uses supply rebuilt from issuance minus burned base fees; stablecoin market cap is the native supply of USDT, USDC and other tracked stablecoins on every covered chain.
- Total crypto market cap is the sum over every asset in the market cap registry, plus an off-chain reference total for assets outside it, labelled as such on every chart.
- Dominance excluding stablecoins divides by the same total less stablecoin market cap, so the two views can be compared on the same day.

## Data it needs

- `market_caps_daily` (to build): Market capitalization of major assets as circulating supply times a reference price, and each asset's share of the total, per day.
- `bitcoin_supply_daily` (to build): Bitcoin issued, supply by coin age band and by output script type (including coins whose public keys are already exposed), supply last moved long ago, and cost-basis measures.
- `eth_supply_daily` (to build): Daily ETH issued to validators, ETH burned through the EIP-1559 base fee, and the resulting net change in ETH supply.
- `stablecoin_supply_global_daily` (published): Cross-chain native supply per stablecoin and peg per day, on the latest day every chain has reported.
- `native_prices_daily` (to build): Reference prices of major assets read from on-chain oracle feeds (Chainlink latestRoundData) at each day's last block, with each round's update time.
- Source: BTC supply from the cumulative coinbase subsidy at the daily block height
- Source: ETH supply from issuance minus burned base fees (base_fee_per_gas times gas_used per block)
- Source: USDT and USDC totalSupply() at daily blocks on modeled EVM chains plus Tron and Solana
- Source: Chainlink BTC/USD and ETH/USD aggregators at the daily block
- Source: Total crypto market capitalization from an off-chain reference, recorded with its source

## Questions

### What is bitcoin dominance?

Bitcoin dominance is bitcoin's share of the total market value of all crypto assets: its market cap divided by the total crypto market cap. It is a ratio, so it moves with both bitcoin and everything else.

### Why does bitcoin dominance go up?

Dominance rises when bitcoin's market cap grows faster than the rest of the market, or falls less than it in a decline. It can also rise when other assets lose value or when large tokens drop out of the total.

### Do stablecoins affect bitcoin dominance?

Yes. Stablecoins are part of the total market cap, so a rise in stablecoin supply lowers bitcoin's share even if bitcoin's price is unchanged. The dashboard shows dominance with and without stablecoins for that reason.

### What is ETH dominance?

ETH dominance is ether's market cap divided by the total crypto market cap, computed the same way as bitcoin dominance. Here it uses ether supply rebuilt from issuance and burn, read from the chain.

### Why do bitcoin dominance figures differ between sources?

Sources use different totals. Some include every listed token, some only the largest few hundred and some leave out stablecoins. This dashboard names the assets in its denominator, so the definition behind every value is clear.

## Glossary

- **Market dominance**: One asset's market cap as a share of the total market cap of all the crypto assets counted.
- **Stablecoin dominance**: The combined market cap of stablecoins as a share of total crypto market cap, often read as the part of the market held in cash-like tokens.

## Related apps

- [Crypto Market Cap Rankings with On-Chain Supply](https://voltfincrypto.com/apps/crypto-market-cap-rankings)
- [Altcoin Season Index: Are Altcoins Beating Bitcoin?](https://voltfincrypto.com/apps/altcoin-season-index)
- [Stablecoin Market Cap and Total Supply](https://voltfincrypto.com/apps/stablecoin-market-cap)
- [How Many Bitcoin Are Left to Mine: Supply and Issuance](https://voltfincrypto.com/apps/bitcoin-supply-left-to-mine)
- [Crypto Fear and Greed Index Today and History](https://voltfincrypto.com/apps/crypto-fear-and-greed-index)
- [Crypto Liquidations Today: Longs vs Shorts](https://voltfincrypto.com/apps/crypto-liquidations-today)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F