⚡️ Bitcoin's dominant position is solid!
⚡️ Matrixport report: Market dominance skyrockets to 58%, altcoin frenzy fades!
Matrixport report: Bitcoin's market dominance rises to 58%
1. Market dominance climbs
Latest data from Matrixport shows that Bitcoin's dominance in the cryptocurrency market continues to rise, now accounting for 58% of the market share.
This trend reflects that despite the presence of over 20,000 cryptocurrencies, Bitcoin remains the focal point of the market.
2. Altcoin frenzy delayed
Although there are many types of cryptocurrencies, Bitcoin's strong performance has delayed the altcoin frenzy.
ETF inflows have limited impact on altcoins, indicating that market funds still prefer to flow into Bitcoin.
At the same time, this also suggests that retail investors have not yet flooded into the altcoin market.
3. Bitcoin trading volume doubles
In terms of trading volume, Bitcoin's influence has further strengthened.
In 2023, Bitcoin's trading volume fluctuated between $10 billion and $20 billion, and has now doubled to between $20 billion and $40 billion.
This significant growth further consolidates Bitcoin's leading position in the cryptocurrency market.
4. Bitcoin's appeal remains strong
From a risk-adjusted perspective, Bitcoin remains one of the most attractive trades in the current crypto market.
Its stable market performance and continuous growth potential have bolstered investor confidence in Bitcoin.
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