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Bitcoin's dominance over the entire digital currency market is no secret. The king of digital currencies had a dominance of almost 97% until 2017, and after the launch of the Ethereum network, due to the activities of DeFi, Ethereum was able to take some of the dominance of Bitcoin.

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While Bitcoin's dominance has dipped from its 2017 highs, it remains the most valuable and well-established cryptocurrency by far. Its first-mover advantage, strong brand recognition, and large user base give it a significant edge over other digital currencies.