The cryptocurrency market appears to be starting the new year off by cementing a recovery.

At press time, the total value of the more than 1,300 publicly traded cryptocurrencies, as listed by data CoinMarketCap, set a new all-time high of $667 billion. As such, it’s the latest sign that the entire cryptocurrency market has recovered from a correction on Dec. 22, when the market plunged more than 30 percent from around $648 billion to $422 billion.

Still, what’s most notable about the rally is that data shows the world’s largest cryptocurrency may not be a large contributor. Bitcoin’s dominance, or its share of the total market cap, has now dropped to an all-time-low. Data suggests the value of all bitcoins is currently accounting for 35.6 percent of the entire marketplace.

Indeed, the metric saw a rather turbulent movement in 2017, having decreased sharply from over 80 percent to 37.46 percent in June. This was followed by a six-month bounce-back to 65 percent around early December.

Data from the market’s overnight session (0:01~6:00 UTC), morning session (06:01~12:00 UTC) and afternoon session (12:01~18:00) suggest part of that decline may be due to rising interest in the broader cryptocurrency markets. Just one digital asset, TRON, was a top performer in more than one session, hinting capital may be moving quickly between options in search of gains.

Hot air balloon image via CoinDesk archive

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This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.