Bitcoin’s Dominance Surges Amid Ethereum’s Decline: A Look at the 2024 Bull Market Shift

According to COINOTAG, recent data from Matrixport reveals that during the anticipated 2024 Bitcoin bull market, Ethereum has notably lagged behind its counterpart. Bitcoin’s dominance surged from 50% to 61%, but subsequently retracted to 54%. Contrarily, Ethereum’s market share witnessed a stark drop from 18% to 12%, particularly following the introduction of the Ethereum ETF, which displayed a steady decline in dominance. This shift indicates a growing investor interest towards Solana and other emerging blockchain platforms.

However, analysts suggest that 2025 could represent a pivotal juncture for Ethereum. The increasing influx of capital into the Ethereum ETF is expected to entice traditional financial institutions, or TradFi, to embrace Ethereum, prompting significant portfolio allocations. Such developments, previously discussed in last week’s edition, hint at Ethereum potentially transforming into a surprising asset capable of substantial recovery, despite the current spotlight on Bitcoin.