maartunn
Anxious statistics visible on Dominance by Volume (%)
It has been a while since I gave the last update on Dominance by Volume (%). The last update I gave the ETH merge had just happened and I expected Bitcoin to take over the driver-seat*. That has played out very well. After a period of 1 month where #Bitcoin was the most traded coin on exchanges, altcoins started to dominate. Yesterday, 50% of the trading volume on exchanges came from altcoins. Based on historical data, this is not good for the market. I also added a long-term chart. When altcoins traded heavily on exchanges (dominance ~50%) đ âś Nov '21 - Jan '22: $BTC dropped from $67k to $36k âś April '21 - June '22: drop from $47k to $20k This makes me a bit worried đ *https://cryptoquant.com/quicktake/631e663f7b778d5aba126409-Bitcoin-will-take-over-the-driver-seat-from-Ethereum