From 2013 to 2025, over 12 years, Bit's market share in the crypto market fluctuated dramatically, oscillating between a historical low of 31.1% and an early high of 99.1%. During this period, for two-thirds of the time, Bit's daily market share remained at 50.0% or higher. In other words, Bit dominated the crypto market for 8 out of these 12 years.
Annually, Bit's daily average market share declined for five consecutive years, dropping from 93.3% in 2013 to 44.6% in 2018. It then rebounded to 60.2% in 2019, reached 62.7% in 2020, and subsequently declined to 47.6% and 39.3% in 2021 and 2022, respectively.
Since 2023, Bit's market share has been steadily rising again, with an annual average of 45.6% in 2023, 51.9% in 2024, and 59.3% so far in 2025. This means that Bit's market share is currently hovering around the 12-year daily average of 62.5%.
Bit's market share is currently hovering around the 12-year average of 62.5%
Statistical Period: April 29, 2013 to July 22, 2025
Key Levels of Bit Market Value
Since February 2016, Bit's market share has consistently remained well below 90%. This reflects a turning point in the maturation of the crypto market, following the ICO frenzy and first Altcoin bull market in 2017, with the increasing number and market value of major Altcoins.
Similarly, after barely recording 70.7% on January 3, 2021, Bit's market share has been on a downward trajectory, consistently staying below 70%. This means that in the past 12 years, only one-third of the time saw Bit's daily market share reach 70% or higher. Whether Bit can break through the 70.0% threshold again remains to be seen.
Notably, on April 7, 2025, Bit's market share rose to 60.5%, breaking the 60% threshold for the first time in over four years. The last time Bit's market share exceeded this threshold was on March 15, 2021, when it reached 60.6%. In the past 12 years, more than half the time saw Bit's market share below 60.0%.
Bit Market Share Development History (2013 – 2025)
From 2013 to 2025, the annual average, minimum, and maximum market share of Bit are as follows.
2013 to 2016: Bit Dominated the Crypto Market
Between 2013 and 2016, Bit dominated the crypto market, with its annual average daily market share ranging between 82.6% and 93.3%. During this emerging period, despite Bit price pullbacks and major regulatory actions by the US against Mt. Gox, the then-Bit exchange, Bit's market share in the crypto domain reached a peak of 99.1% on May 29, 2013.
Although Bit held an overwhelming share in the crypto market, during this period, its market share experienced three major fluctuations:
- On March 29, 2014, Bit's market share dropped by 10.9 percentage points from 89.6% to 78.7% compared to the previous day. This occurred after the Mt. Gox collapse and can be attributed to a significant increase in the total cryptocurrency market value, which was subsequently corrected.
- On January 15, 2015, Bit's market share dramatically declined by 16.2 percentage points from 80.2% to 64.0%. This sharp drop was due to the Bit price falling from $221 to $172 the previous day, marking the bear market bottom after a hacker attack on the Bitstamp centralized exchange.
- On January 16, 2015, Bit's market share rebounded to 80.7%, rising 16.7 percentage points from the previous day, while the Bit price also recovered to $211.
2017-2018: ICO and Altcoins Overshadow Bit
In the following two years, Bit's market share further declined, dropping below 80% and 70% thresholds during the 2017 ICO-driven Altcoin bull market and the 2018 bear market. On May 16, 2017, Bit first fell below 50%, reaching 48.5%. Notably, on January 16, 2018, Bit's market share hit a historic low of 31.1%, when its price plummeted from $14,412 to $11,724.
In the past 12 years, Bit's market share was most volatile in 2017, dropping over half from 87.2% at the beginning of the year to 37.6% on June 19. In the second half of the year, Bit's market share briefly rebounded, then fell to the annual low of 37.5%, before bouncing back to 66% on December 7, ultimately closing the year at 38.9%.
On the other hand, Bit's market share showed an overall upward trend in 2018, rising from 37.4% at the beginning of the year to 52% by year-end.
2019-2020: Approaching Third Halving, Bit Regains Dominance
In 2019 and 2020, Bit reclaimed market dominance, with its market share ranging between 48.8% and 72.5%. During this period, Bit's return to dominance was the result of multiple factors: primarily expectations of the third Bit halving in May 2020, investors returning to quality assets after the ICO craze, early institutional interest in Bit as "digital gold", and Bit's role as an entry point during the 2020 "DeFi Summer".
2021-2022: Altcoins Regain Influence
During the 2021 bull market and the 2022 pandemic-induced crash, Bit's market share continued to decline by 30.9 percentage points, from 69.5% to 38.6%. In these two years, as Altcoins gradually gained ground and began to exert greater influence in the crypto market, Bit's market share persistently dropped.
During this period, Bit's market share was below 50% for 8 out of every 10 days. In other words, out of 730 days, Bit's market share was below 50.0% for 624 days.
Specifically, in 2021, despite Bit's price rising from $29,022 to a historic high and closing the year at $47,192, a 62.6% increase, its market share still declined from 69.5% at the beginning of the year to 38.2% by year-end. In contrast, the total market value of the entire crypto market performed better, soaring from $77.64 billion to $2.3 trillion, a 200.6% increase.
In 2022, Bit started the year at a 37.9% market share and ended at 38.6%, with its price dropping 64.2%, consistent with the overall crypto market's 64.1% decline. In other words, Bit was directly impacted by the Terra-Luna and FTX collapses, prompting investors to shift to fiat to reduce risk.
2023-2025: Bit Moves Towards Mainstream
In the past three years, Bit's market share has steadily recovered, rising from 38.4% in early 2023 to 58.5% as of 2025. The rebound in Bit's market share reflects structural changes in the crypto market, as Bit gains mainstream recognition and institutional adoption, thanks to the approval of the US spot Bit ETF in January 2024 and the increasingly clear regulatory environment following the FTX collapse.
Notably, Bit's market share has become increasingly stable, with variations ranging between -1.2 and +1.6 percentage points. In comparison, between 2013 and 2016, Bit's market share fluctuated between -16.2 and +16.7 percentage points, while between 2017 and 2022, it varied between -8.8 and +7.0 percentage points.
