Major tokens account for 92% of top 100 crypto market cap, back at 2021 level

A CoinNess analysis of CryptoRank data shows the so-called MAG7 accounted for 92.1% of the market capitalization of the top 100 cryptocurrencies excluding stablecoins this year, returning to 2021 levels. The share stood at 91% in 2021. BTC’s share also rose to 66.6%, up 9.9 percentage points from 56.7% in 2021. On X, CryptoRank said market growth is becoming increasingly dependent on a small group of major assets, while the share of capital flowing into the rest of the altcoin market is shrinking.