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Binance BTCDOM Index is a cryptocurrency price index reflecting the market dominance performance of Bitcoin. The BTCDOM Index is a metric that traders can use to quickly get a sense of Bitcoin's value relative to that of the broader cryptocurrency market. Unlike the real Bitcoin market dominance indicator, which is capped within 0~100%, the BTCDOM index is uncapped and more suitable for derivatives trading. It is calculated with Bitcoin price denominated in the constituent cryptocurrency, e.g. BTC/ETH, BTC/BNB, BTC/ADA, etc.
Uses For BTCDOM Index
The BTCDOM Index provides insights into the market and can be used as a tool to speculate on Bitcoin’s relative strength against other cryptocurrencies. Essentially, the index measures the demand for Bitcoin relative to altcoins.
When altcoins gain market share relative to Bitcoin, the BTCDOM index loses value. Conversely, when Bitcoin gains market share relative to altcoins, the BTCDOM index will gain value. In certain conditions, if Bitcoin falls in price, but the rest of the cryptocurrency market falls at a similar rate, then Bitcoin dominance is likely to remain the same.
The live Binance BTCDOM Index price today is not available with a 24-hour trading volume of not available. We update our BTCDOM to USD price in real-time. Binance BTCDOM Index has no change in the last 24 hours. The current CoinMarketCap ranking is not available, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.