Bitcoin dominance has slid from 71% to 41% in the span of a year and Ethereum's smart contract dominance has slid from 80% to 60%. This goes on to prove that crypto ecosystem is thriving with newer projects which are increasingly giving competition to the first gen coins.

/u/tanmay1010Cryptocurrency News & Discussion https://ift.tt/eA8V8J

The dominance of these legacy coins are dwindling with each passing year and that is a great news. No singular coin should hold the power to dominate the entire ecosystem.

And with increase in adoption amongst the newer users coupled with the thriving & buzzing developer ecosystem ensuring that new projects with newer use cases always comes up- this sure paints a very bright future for all of us.

Ethereum still leads the market with 80% dominance in the smart contract platform but other projects are slowly catching up to the speed not necessarily intending to replace it.

Polkadot with $40b market cap, Solana with $60b market cap, Avax with $30b, Algorand $11b, Cosmos with $7b etc are all making greater strides towards achieving a variety of newer business cases.

Even ethereum with all its L2 protocols is trying to make our world more inclusive by making a variety of use cases feasible (mostly by making the platform scalable). The current gas fees on most of these L2 platform lies between $0.15 - $0.50 and with time & updates this will only improve.

All said- these reduction in dominance is very good for our ecosystem. It represents that we as a community are growing. These dominance numbers should and will decrease with time because our community should and will grow with time.

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