38% Surge of Ethereum vs Bitcoin: Has the Altcoin Season Finally Arrived?
Hello Trader Friends. . .
The analytics company CryptoQuant reports that Ethereum ($ETH )
may have reached its lowest point relative to Bitcoin ($BTC )
, with the ETH/BTC ratio increasing by 38% from a recent low. This shift indicates an increasing demand for Ethereum and a decrease in selling pressure, which could potentially signal the beginning of a new phase for alternative cryptocurrencies.
At the time this information was written, Ethereum was trading at $2,584, up 1.9% in 24 hours. Its market capitalization exceeds $300 billion, reinforcing its position as the largest altcoin ahead of XRP. Meanwhile, Bitcoin's dominance—its share of the total cryptocurrency market—has dropped to nearly 60%, down from a peak of 65% earlier this year.
Bitcoin Dominance Decreases as Altcoins Strengthen
Historically, Bitcoin's dominance has increased during market uncertainty as investors flock to its stability. However, its recent decline coincides with Ethereum's resurgence. The market share of ETH is now approaching 10%, while stablecoins like USDT and USDC dominate about 6%, down from previous levels.
Stay Motivated 🔛🔥and vigilant in Investing and always DO YOUR own RESEARCH