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Binance News
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Bitcoin Dominance Declines as Select Altcoins Gain Traction
According to PANews, Ki Young Ju, the founder of CryptoQuant, has observed a recent 6% decline in Bitcoin's dominance, with XRP contributing 3% to this decrease. Despite this drop, Bitcoin's dominance is currently on the rise again.Ju noted that only a few altcoins have managed to attract new liquidity, indicating a limited rotation from Bitcoin to altcoins. This situation does not align with the traditional 'altcoin season,' where a broad range of altcoins experience significant gains. Instead, it resembles a period where only a select few altcoins are performing exceptionally well.
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