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Ethereum recently experienced a sharp increase in market dominance over Bitcoin, achieving double-digit figures. This rise is attributed to the decreasing supply of Ether on exchanges, approaching its historical lows, and sparking speculation about a potential price increase.
Bitcoin ETFs Fail to Deliver Expected Impact
#Bitcoin , having recently gained approval for spot #ETFs , has yet to see a positive impact on its price. Despite significant capital flowing into these funds, Bitcoin's price fell by more than 5% post-approval.
 Ethereum on the Rise: Outperforming Bitcoin
In contrast, Ethereum fared better, recording nearly an 8% increase during the same period, even as it struggled to maintain a price above $2,600. Data indicates that the price dominance of this largest altcoin over Bitcoin continues to grow rapidly.
 Ethereum's Growing Dominance: Key Metrics
The analytics firm Santiment recorded a significant increase in Ethereum's dominance over Bitcoin, with a weekly increase of more than 22.4%. Ethereum also showed a daily increase in new addresses, highlighting the network's growing popularity.
 

 
Catalysts for Ether's Growth: Upcoming Upgrades
Ethereum plans a series of network upgrades, such as the Dencun hard fork, enhancing its attractiveness and bullish sentiment among investors. These anticipated improvements could strengthen Ether's position relative to other cryptocurrencies.
 Outlook on Forwards and Upcoming Events
QCP Capital notes that forward rates for both Bitcoin and Ether are declining, with Ether performing better. Future market movements could be influenced by Bitcoin's halving and the potential approval of spot #Ethereum ETFs.
 Ether's Exchange Supply Remains Persistently Low
The supply of Ether on exchanges continues to decline, indicating that holders are increasingly moving their assets to long-term storage in anticipation of price growth. This trend demonstrates strong investor interest in Ethereum.
#SpaceCatch #CATCH
 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“