Happycoin.club - Analysts from the Binance cryptocurrency exchange published a report on the changing role of Ethereum (ETH) in the crypto ecosystem. According to their findings, the leading altcoin is losing its leading positions.
Despite significant achievements by Ethereum, including the Dencun upgrade and the launch of spot exchange-traded funds in the USA, the market share of ETH has fallen to 13.1%, the lowest level since April 2021. In contrast, the dominance of other altcoins has risen to 28.2%, with Bitcoin surpassing the $100,000 mark.
One of the key reasons for the decline in Ethereum's position in the crypto ecosystem, analysts noted, is the emergence of alternative first-layer blockchains. Networks such as Solana, Sui, and The Open Network (TON) have outpaced Ethereum in user activity and growth, capturing a larger share of trading volumes and transactions.
However, Binance experts acknowledged that Ethereum's role in the decentralized finance space remains extremely important. Only in 2024 did DeFi exchanges spend $512.8 million on fees, while ERC-20 tokens and ETH transfers brought in $159.4 million and $148.9 million respectively.