Matrixport: Bitcoin market dominance climbs to 58%, altcoin boom delayed
Matrixport stated that Bitcoin's market dominance continues to rise, reaching 58%, indicating that the altcoin craze has not yet arrived. Although there are already over 20,000 cryptocurrencies on the market, attention remains highly concentrated on Bitcoin. Bitcoin's dominance suggests that ETF fund inflows have little effect on altcoins, while also hinting that retail investors have yet to enter on a large scale. Bitcoin's trading volume has doubled from $10 to $20 billion in 2023 to $20 to $40 billion, further highlighting the strengthening influence of Bitcoin. From a risk-adjusted perspective, Bitcoin remains one of the most attractive trades in the current cryptocurrency market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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