Glassnode's recent analysis shows that on May 8, Bitcoin's market share skyrocketed to 64.4%, reflecting its strong position in the cryptocurrency space. Subsequently, Ethereum's market share rose to 9.75%, an increase of 3%. Meanwhile, altcoins' market share adjusted to 22.35% (+2%), and stablecoins' market share decreased to 6.3%. These fluctuations indicate that dynamic changes are occurring within the market, but both Ethereum and altcoins are currently lagging behind their historical highs by 18% and 28.5%, respectively. This suggests that the ongoing bull market is still primarily characterized by Bitcoin's performance, further solidifying its status as the leading asset in the cryptocurrency space.
