In recent days, we have made several articles about the cryptocurrency Ethereum, as well as posts on our Instagram. Today, however, we will look at the dominance of this cryptocurrency, which has begun to grow quite rapidly in recent weeks. As you know, the price of BTC has stabilized, as it has been moving more or less on the same numbers for several weeks, and the altcoins took advantage of this situation. Something like this is called the “altcoin season”, and since Ethereum is the most valuable altcoin in the world, this platform has of course took advantage of the situation as well. Thanks to great technology as well as the DeFi projects, we can see that Ethereum is growing without a break for more than a month now, and not only we can see growth within dominance, but it is also constantly outperforming the new All-Time High (ATH), the last ATH being reached yesterday, namely $3,549.34, on the Binance exchange.
Currently, the value of dominance of ETH is 16.9% and if the altcoin season will last for some time, Ethereum is on a relatively good path to break the 20% dominance in the market, as we can see in the photo above, the last time Ethereum was above 20% was at the beginning of 2018 after the first mainstream bullrun. We can see a huge difference in altcoin BNB as well, as market dominance was 0.21% at the same time, while today it is 4.31%. It beautifully shows the qualities of the Binance exchange, which of course was reflected in the price of their token. As for Bitcoin, we can see a drop in dominance of almost 25% since the beginning of this year. Now, however, many Ethereum fans are focusing on overcoming the 20% mark, which would almost certainly reach new ATH again. What do you think?
