The capitalization of ETH, the second most popular cryptocurrency and main altcoin, reached 10.4% of the total cryptocurrency market capitalization for the first time since July 2019.
A year ago, in January 2019, Ethereum dominated by 11% and then began to decline, due to an increase in the share of BTC. At the moment, the Bitcoin domination index is 62.8%
Cryptocurrency market capitalization (percentage of coin dominance)
ETH share growth
Before the weekend, Ethereum fell to $ 267 per coin, and market capitalization fell below $ 19.5 billion, having lost almost $ 10 billion in capitalization and $ 20 in 2 weeks.
However, according to GlassNode, the number of ETH wallets has recently increased by 27%, and the number of transactions on the network is also significantly increasing.
Experts believe that one of the main factors in the growth of Ethereum’s popularity is the launch of the Defi decentralized services market. And in the future, ETH will respond positively to the further expansion of the marketplace.
