• On-chain data shows that the trading dominance of altcoins is now more than 50%.
• Historically, Bitcoin and Ethereum have dominated the majority of the trading volume in the market, with their combined dominance usually staying above 50%.
• However, altcoin trading dominance has recently increased, and the metric’s value is now greater than 50%.
The crypto markets have been subject to increased volatility and trading in recent weeks, and now on-chain data has revealed an interesting development: the trading dominance of altcoins is now more than 50%. This implies that more traders are investing in altcoins rather than Bitcoin and Ethereum, which have dominated the market for some time.
The “trading dominance” metric is used to measure the percentage of the total trading volume that any crypto is contributing. An increase in the value of this metric indicates that there is increased trading interest from investors, while a decline suggests the coin is losing steam compared to the rest of the market.
Historically, Bitcoin and Ethereum have both had strong dominance in the market, with their combined total usually staying above 50%. This has been the case for some time, with Bitcoin and Ethereum accounting for much of the trading volume in the crypto market.
However, there are signs that this may be changing. According to a recent CryptoQuant post, altcoin trading dominance has recently increased and the metric’s value is now greater than 50%. This suggests that more investors are trading altcoins rather than Bitcoin and Ethereum, which could be a sign of a shift in the market.
It is worth noting that this is not the first time that the market has seen a shift in the dominance of altcoins. In the past, there have been points where the altcoins (other than Ethereum) have been able to flip the picture, and this could be the case here.
It remains to be seen whether this trend will continue, and if it does, what effect it will have on the markets. However, it is clear that there is an increasing amount of interest in altcoins, which could have a significant impact on the markets in the coming weeks and months.
For now, the best thing to do is to watch the markets closely and see how the trend develops. With the amount of volatility in the markets, anything could happen, and investors should be prepared for any eventuality.