ETH dominance decline emphasized
"Weak ETH, preparing for a comeback"
);)
In a report released on the 16th, Matrixport pointed to the institutional investor accumulation taking place behind the scenes as the reason for Ethereum's declining dominance.
The report explained that "while Bitcoin (BTC) dominance increased from 50% to 61% this year, Ethereum fell from 18% to 13%" and "Ethereum is showing weakness in the second half of 2024 when many altcoins are breaking new highs."
It continued, "Ethereum, which is behaving like an underdog, is preparing for a comeback in 2025" and "as evidence, Ethereum spot exchange-traded funds (ETFs) in the US recorded a net inflow of $273.6 million last week."
Matrixport emphasized that a larger cryptocurrency bull market will return next year and Ethereum will recover its dominance and solidify its position as the second largest cryptocurrency by market capitalization. The report stated that "Ethereum is currently positioned as an underdog, but will soon show a noticeable recovery."
Reporter Kwon Seung-won ksw@blockstreet.co.kr
