Bitcoin’s (BTC) dominance took a hit recently as the biggest altcoins like Ethereum (ETH) and Ripple’s XRP began to print green indexes. BTC’s share of the total crypto market dropped from 65% to 62% in one week, which ended a relentless five-month uptrend. This drop might look small, but in the crypto spac,e these percentage points are seismic.
While BTC gave up dominance, the cumulative crypto market cap jumped from $2.90 trillion to over $3.4 trillion. This suggests that investors aren’t exiting crypto and are just rotating the funds out of Bitcoin to the major altcoins. The digital assets market cap stood at $3.26 trillion on Thursday, with a trading volume of $117 billion.
Bitcoin takes a breather
As per the day shared by Glassnode, Bitcoin dominance peaked at 64.4% on May 8. It now stands at 62.1% on May 15, with a drop of 0.9% over the last 24 hours. Since the peak, Ethereum dominance has been on a surge, hitting 9.75% with almost a 2% jump in the last 24 hours. Despite the major shift, Ether still remains below its peak of 18%. However, altcoin shares hit the 28% mark.
Bitcoin’s upward run came to a halt this week as traders decided to take out some profits. BTC price dropped marginally over the last day. It is still up by a massive 19% in the past 30 days after breaking out from the $92k-$95k zone. BTC is trading at an average price of $102,289 with a volume of $42.11 billion at the press time.
$BTC dominance peaked at 64.4% on May 8. Since then, $ETH dominance climbed to 9.75% (+3%), altcoins to 22.35% (+2%), while stablecoins dropped to 6.3%. Despite the shift, $ETH and alts remain below their peaks of 18% and 28.5%. This is still a #BTC-driven cycle. pic.twitter.com/aPKsmImoWO
— glassnode (@glassnode) May 15, 2025
Data shows that Bitcoin’s long-term holder (LTH) supply rose from 13.66 million BTC in mid-March to 14.29 million BTC. Meanwhile, this metric has ticked down again for the second time in May. It added that BTC’s LTH realized price has climbed to $45.34K, which reflects the aging of coins bought around $90K-100K into long-term status.
This suggests that LTH is still stacking up and is nearing a record supply, and the market is finally seeing some uptick in spending. However, when the profit margin hits near the $99.9K area, then these guys might start dumping with force.
Altcoin dominance jumps 4%
Altcoins’ game looked strong this week as their leader, Ethereum, finally regained the crucial $2,500k level. Ethereum price surged by a whopping 26% in the last 7 days and 56% over the past 30 days. ETH is trading at an average price of $2,537 at the press time, but it did touch the much anticipated $2,700 mark in the recent upward run. Due to this, altcoins’ dominance has spiked by 4.22% in the last month.
After a few months of realized cap outflows, $SOL is showing signs of a trend reversal. Its 30-day capital inflows are now back in positive territory – growing at ~4–5%, on par with $XRP. This points to a renewed demand returning to the #Solana ecosystem. pic.twitter.com/3FZcykWSzh
— glassnode (@glassnode) May 15, 2025
Glassnode data reveal that after a few months of realized cap outflows, Solana is showing signs of a trend reversal. Its 30-day capital inflows have now turned positive and are growing at 4-5%, on par with XRP. This suggests a renewed demand returning to the Solana. XRP and Solana prices surged by 8% and 6%, respectively, over the last 7 days. However, SOL and XRP are up by 32% and 15%, respectively.
As per the DefiLlama, Solana’s TVL rose by 22.6% in the last 7 days, while it’s running up by 34% over the last month. Ethereum’s TVL is also booming, with a jump of 29.7% in the 7 days and 32% over the last month.
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