Summary
- Despite the rise of altcoins, Bitcoin dominance is still high and has shown no change.
- It was suggested that further gains are possible if altcoins can take away some of Bitcoin's market share.
- It was evaluated that new capital is flowing into the altcoin market even without a decline in Bitcoin dominance.
While altcoins (cryptocurrencies other than Bitcoin) are experiencing a bullish trend, there is an opinion that further gains are possible.
On the 12th (Korean time), according to Cointelegraph, a media outlet specializing in cryptocurrencies, crypto analyst Matthew Hyland stated on X (formerly Twitter), "Altcoins have risen, but Bitcoin (BTC) dominance hasn't changed at all."
As of 2:20 PM that day, XRP was trading at $2.78, up 7.75% from the previous day. In addition, Stellar Lumens (XLM), Mimcore (M), and others are also showing strong intraday gains.
Although some altcoins have risen so far, further increases are possible if they can take away some of Bitcoin's market share. The outlet evaluated, "This altcoin rally means new capital is flowing into altcoins, given that there has been no decline in Bitcoin dominance."
Uk Jin
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