Ethereum Dominance Decline

Ethereum (ETH) dominance has declined since hitting its cycle low in November 2022, with a drop of over 1.5%. Meanwhile, the altcoin sector has seen a decline of 5.9%.

Price Changes

According to The Block’s Prices Page:
– Ether’s price has increased by around 66% since November 2022.
– Bitcoin’s price has appreciated by over 73% in the same period.

Long-term Outlook

Ethereum’s dominance decreased by 1.6% over nearly two years. As reported by Glassnode, capital has continued to concentrate towards major assets.
– Altcoin dominance fell from 27.2% to 21.3% since the cycle low.

Bitcoin Dominance Increase

In contrast, Bitcoin dominance has risen significantly, from 38% in November 2022 to 56% today, with a peak of 59.56% on August 5 when Bitcoin was priced around $49,000. Currently, Bitcoin’s dominance stands at 54.95%, marking its highest levels since April 2021.

Experts comment that uncertainty among market investors causes capital to flow towards Bitcoin, resulting in significant increases in its dominance.