Bitcoin dominance drops to 56%, altcoin season is officially here
Bitcoin dominance is declining, falling to 59.2% last Sunday, while the price is still hovering below $100,000. However, the altcoin market is extremely active.
As cryptocurrency "number one enemy" Gary Gensler will step down as SEC chairman after Trump takes office in January 2025, altcoin bulls expect that this will usher in a "golden era" for the U.S. crypto industry.
While it’s too early to say that altcoin season has arrived, Bitcoin dominance fell to 57%, just back to summer 2024 levels, and CoinMarketCap’s Altcoin Index currently stands at 74 (75 stands for altcoin season). Nonetheless, the new altcoin season seems unstoppable.
Recently, Ripple (XRP) price surged 322% in 30 days, adding over $80 billion in market capitalization to the crypto market, making it the fourth largest cryptocurrency by market capitalization.
#Marvin The token with the same name as Musk’s pet dog, with the arrival of the copycat season, will surely become the most dazzling star in this bull market. You may not believe in Marvin, but you cannot disbelieve in Musk. The market value is currently only 10 million, which is at least a hundred times higher. Space, because the market value of Musk-related dogs has not fallen below one billion.
