Altcoins
Who will win the race for dominance?
THE Ethereum (ETH) is attracting bullish sentiment, driven by clearer regulatory guidelines in the United States. Institutional investors are accumulating more and more Ethereum, anticipating a significant price rise.
Bitwise Asset Management recently disclosed in a revised S-1 filing that it had seeded its own spot ETF on Ether with 2.5 million dollars. This move highlights institutional investors’ growing confidence in Ethereum’s potential.
On top of that, on-chain data shows that Ethereum supply on centralized exchanges has hit a multi-year low. This scarcity often indicates a potential price increase as fewer tokens are available for sale.
Ethereum’s Web3 Domain: A Billion-Dollar Ecosystem
The Ethereum network has grown into a major Web3 ecosystem, with over $62 billion in total value locked (TVL) and a stablecoin market capitalization of over $79 billion.
Despite the rise of new tier-1 chains like Solana (SOL), Cardano (ADA), and Toncoin (TON), Ethereum has maintained a market dominance of around 18%.
According to well-known cryptocurrency analyst Wolf (IamCryptoWolf) on platform X, Ethereum’s market dominance could exceed 20% by the end of this year. This expected surge is in line with the next major alternative season, where Ethereum’s position is set to strengthen despite the emergence of thousands of new digital assets, especially meme coins.
Regulatory clarity
While Ethereum has achieved notable regulatory clarity similar to Bitcoin in several jurisdictions, investor interest is also shifting towards small-cap altcoins. These undervalued assets are expected to grow significantly in the coming quarters.
Bitcoin’s Declining Dominance: A Trend to Watch
Bitcoin’s market dominance has been gradually declining, suggesting that a similar trend may occur for Ethereum. Bitcoin’s dominance is approaching a major resistance level, which could lead to a reversal and influence the path of Ethereum.
The future of Ethereum looks promising with growing institutional interest and strong fundamentals on the chain.
Read also: Justin Sun Transfers $35 Million to Binance Amid Curve Financial Crisis
What do you think about Ethereum’s future dominance? Will altcoins dethrone the king?