maartunn
Ethereum is leading the bearmarket rally
Ethereum is leading the bearmarket rally. It has a great narrative with the ETH 2.0 coming later this year and thereby, it's very populair in terms of trading volume. To support that, I made this chart. đľ BTC Price đ BTC Dominance by Trading Volume (%) đ˘ ETH Dominance by Trading Volume (%) Since the start of this bear market rally, in the middle of June, Ethereum is gaining dominance in terms of trading volume relative to Bitcoin. In the latest few days, Ethereum and Bitcoin Dominance has even crossed. â What does this mean for the market? It is clear that Ethereum is very populair on exchanges, because of the gaining dominance. That makes sense because of the upcoming 2.0 merge. However, from my 5-year experience in the cryptomarket, rally's which are led by Ethereum are usually not the healthiest thing for the market. đ As you already could read in my previous analysis, I'm very conservative. Especially because Ethereum already made a > 100% move from the lows