The term, “Bitcoin Dominance”, is a term that recognizes how Bitcoin is the world’s largest crypto asset through market capitalization and encroaches a large part of the trading volume (and the attention) in cryptocurrency markets. If the summative market capitalizations of all cryptos in circulation would be looked into, then the total market capitalization could be estimated for the entirety of the cryptocurrency space.
Considering these, Bitcoin Dominance is seen as the ratio between the market cap of Bitcoin compared to the other coins in the market.
These days, Bitcoin’s dominance had dropped considerably as opposed to the preliminary chapters of its existence, being closer to 100%. The reason for drop may be attributed to the rise of Initial Coin Offerings that became popular after the launch Ethereum and the ERC-20 token standard.