A noticeable jump in the dominance of alternative currencies signals a radical shift in the market landscape
Recent developments in the cryptocurrency market indicate the likelihood of a new season for alternative currencies, as Bitcoin's dominance has dropped to about 17% of the total futures volume, compared to a remarkable rise in the share of alternative currencies, which has reached 83%.
Ethereum has recorded a strong jump of 170% from its previous lows, now just 23% away from its historical peak.
This decline in individual traders' interest in Bitcoin, coinciding with the increasing demand for alternative currency contracts, reflects a new trend in the market and boosts expectations for a strong launch of alternative currencies during August.
