  Over the last decade, the cryptocurrency market has experienced unprecedented
growth, emerging as a prominent financial market. As this market rapidly
evolves, it necessitates re-evaluating which cryptocurrencies command the
market and steer the direction of blockchain technology. We implement a
network-based cryptocurrency market analysis to investigate this changing
landscape. We use novel hourly-resolution data and Kendall's Tau correlation to
explore the interconnectedness of the cryptocurrency market. We observed
critical differences in the hierarchy of cryptocurrencies determined by our
method compared to rankings derived from daily data and Pearson's correlation.
This divergence emphasizes the potential information loss stemming from daily
data aggregation and highlights the limitations of Pearson's correlation. Our
findings show that in the early stages of this growth, Bitcoin held a leading
role. However, during the 2021 bull run, the landscape changed drastically. We
see that while Ethereum has emerged as the overall leader, it was FTT and its
associated exchange, FTX, that greatly led to the increase at the beginning of
the bull run. We also find that highly-influential cryptocurrencies are
increasingly gaining a commanding influence over the market as time progresses,
despite the growing number of cryptocurrencies making up the market.
