Bitcoinâs market share has climbed to 58%, indicating a continued focus on the leading cryptocurrency while altcoins remain sidelined. A recent report from Matrixport highlights that the altcoin season has not yet commenced, despite the presence of over 20,000 alternative cryptocurrencies.
What is Holding Back Altcoins?
Matrixportâs findings suggest that ETF inflows have not significantly impacted altcoins, resulting in their inability to capture investor interest. This lack of attention hampers any potential upward momentum for altcoins.
The research also indicates that retail investors are yet to make a substantial presence in the market, which explains Bitcoinâs dominance and appeal compared to other digital currencies.
How is Bitcoinâs Trading Volume Increasing?
Additionally, Bitcoinâs trading volume has dramatically increased from $10-20 billion in 2023 to between $20-40 billion in 2024, showcasing its significant influence in the market.
- Bitcoinâs market dominance reached 58%.
- Altcoins remain in the background due to lack of investor focus.
- Retail investor participation is currently low.
- Bitcoinâs trading volume has nearly doubled in one year.
- Experts consider Bitcoin a reliable investment option for returns.
As the cryptocurrency landscape evolves, Bitcoin continues to hold the spotlight, with altcoins waiting for the right moment to attract investor interest. Until then, Bitcoinâs strong market presence remains unchallenged, solidifying its position as a leading investment choice.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
