Avihal Garg, a former executive director of Google and Facebook, believes that the real dominance of Bitcoin cryptocurrency is several times higher than the figures displayed on crypto services.
Currently, Avihal Garg heads the company Electric Capital, in his Twitter blog, he noted that the dominance of Bitcoin actually exceeds 75%. In his opinion, the current standards for determining the share of BTC in the market cannot be called objective, the calculation methods should be reviewed. He explained that the real share of BTC in the market is or even exceeds 75%. Garg drew attention to the fact that the popular crypto service CoinMarketCap incorrectly calculates the dominance of cryptocurrencies, since it takes into account tokens with zero liquidity. He said that the value of most projects is zero, so we can say that BTC is underestimated.
True BTC market share is probably 75% + and has likely been 60% + for a long time.
Coinmarketcap incorrectly calculates dominance using alts that have 0 liquidity. Most (though def not all!) Projects are worth 0, which would put BTC dominance at 75% +
Avichal Garg (Electric Capital) ⚡ (@avichal) August 6, 2019
According to CoinMarketCap, the current BTC dominance index is about 68.5%. Note that this is the highest index since the spring of the year before last. The crypto community supports Garg's observations and encourages CoinMarketCap developers to carefully study the way they analyze the current positions of Bitcoin and tokens in the market in order to have access to real data and the ability to effectively develop trading strategies. In addition, the solution to this problem will attract even more investors who still doubt transparency in the crypto market.
