CryptoQuant CEO Ki Young Ju has stated that Bitcoin’s market dominance is unlikely to decline anytime soon.
Drawing attention to Bitcoin’s growth rates, Ju stated that there was a 37 percent increase in the market value of the leading cryptocurrency, while altcoins with large market values gained 16 percent, and medium and small-sized altcoins gained only 10 percent.
According to Ju, the last time Bitcoin outperformed its market cap was during the memecoin season in April, when memecoins attracted the majority of investor interest, allowing small- and mid-cap altcoins to outperform Bitcoin.
This data shows that Bitcoin’s market dominance continues to grow and altcoins, especially medium and small-scale projects, are struggling to keep up with this growth rate. Ki Young Ju believes that this situation is directly related to the increase in investors’ confidence and demand for Bitcoin.
Bitcoin’s current market dominance continues to overshadow the performance of other assets in the crypto ecosystem, and is considered an important indicator for investors in understanding the overall dynamics of the market.
Stay tuned.
