Dominance and Market Cap
BTC and stablecoin dominance, TOTAL2 / TOTAL3 / OTHERS · source: CoinMarketCap, DefiLlama
Who holds the capital
data as of 9/29/2026 · Related: KM Cycle Index · Liquidity and Bitcoin
How big the market and its parts are
The basket reflects today's market caps. TradingView excludes the top 10 as it stood at each moment, so historical OTHERS here reads slightly higher wherever today's giant meant nothing back then.
Cycle peaks and an estimate for the next one
| cycle | Whole market (TOTAL) | Without Bitcoin (TOTAL2) | Without BTC and ETH (TOTAL3) | Beyond the top 10 (OTHERS) |
|---|---|---|---|---|
| 2012 | $16B12/5/2013 · 9.9× | $2B2/18/2014 · 23.0× | $2B2/18/2014 · 23.0× | $2B2/18/2014 · 22.0× |
| 2016 | $829B1/8/2018 · 65.8× | $552B1/8/2018 · 262.8× | $440B1/8/2018 · 366.4× | $290B1/8/2018 · 322.1× |
| 2020 | $2.92T11/9/2021 · 12.2× | $1.65T11/9/2021 · 20.9× | $1.08T11/9/2021 · 18.6× | $725B11/10/2021 · 18.8× |
| 2024 · | $4.28T10/7/2025 · 1.8× | $1.79T10/7/2025 · 1.7× | $1.23T12/9/2024 · 1.8× | $646B12/9/2024 · 1.8× |
Rough estimate for the next cycle peak
The estimate is not a forecast. It comes from the ratio of one cycle peak to the previous one, using only cycles where the market was already comparable in size — the growth from 2013, when the whole market was worth 16 billion dollars, will never repeat and extrapolating from it would be nonsense. The real message is the decay itself: every cycle adds far less than the one before, and for OTHERS the last peak came in below the one before it. The numbers rest on two ratios, so treat them as an order of magnitude, not a target.
Daily trading volume (7-day average)
Volume is the fuel of a trend: cycle peaks came with several times the usual volume, bottoms with months where almost nothing traded. The seven-day average smooths out weekends and one-off spikes.
Bitcoin dominance tells you how much of the whole market BTC makes up. When it rises, capital is hiding in Bitcoin; when it falls while the market does not, money is rotating into altcoins — exactly what happened shortly after the Bitcoin top in past cycles.
Stablecoin dominance measures money waiting on the sidelines. A high reading during a drawdown means there is something to buy with; a falling one in a rising market means that money is being spent right now.
TOTAL2 is the market without Bitcoin, TOTAL3 also without Ethereum, and OTHERS is everything beyond the ten largest coins. OTHERS says the most: it holds no giants that move with the whole market, so it shows best whether small altcoins are really trading.
Data from CoinMarketCap's public API (daily since 2013), stablecoin history from DefiLlama. DefiLlama counts stablecoins into a wider basket than CoinMarketCap, which supplies the denominator — today about a tenth more —, so treat their dominance as indicative. This is not investment advice.