Crypto market concentration has risen back to 2021 levels, with the crypto version of the MAG7 accounting for 92.1% of the market capitalization of the 100 largest crypto assets after stablecoins are excluded. Bitcoin represents 66.6% on its own, a level described as significantly higher than five years ago. The data indicates that overall market growth is becoming increasingly dependent on a small group of leading assets, while altcoins receive a materially smaller share of capital.