ChainCatcher message, Matrixport released a report stating that Ethereum seems to have failed to keep pace with the market during the Bitcoin bull market of 2024. Bitcoin's dominance rose from 50% to 61% at one point, then fell back to 54%, while Ethereum's dominance dropped significantly from 18% to 12%.
This decline has been particularly evident since the listing of Ethereum ETFs, with its dominance showing an almost linear downward trend. At the same time, market focus is gradually shifting towards Solana and other emerging blockchain ecosystems.
However, 2025 may become a key turning point for Ethereum. The inflow of funds into Ethereum ETFs has shown strong performance, which may attract traditional financial institutions (TradFi) to accelerate their entry and start accumulating Ethereum on a large scale, as mentioned in our report last week. Although Bitcoin is the main character in this market cycle, Ethereum may become a 'dark horse' and achieve a strong rebound in the future.
