Bitcoin’s Market Dominance Grows, Sustained by Long-Term Holder Support

Following the cycle low in November 2022, capital has progressively shifted towards the leading cryptocurrencies at the top of the digital asset risk curve.

On the other hand, Ethereum, as the second-largest asset in the ecosystem, has experienced a 1.5% decrease in dominance, remaining largely unchanged over the last two years. Stablecoins and the broader altcoin sector have witnessed more significant declines of 9.9% and 5.9%, respectively. Although market conditions have been volatile, the report said that “prices are generally flat over the last few months, suggesting a form of equilibrium is being reached.”suggests that this trend highlights that HODLing behavior is far surpassing spending. However, it is the short-term holders who have faced the brunt of the losses during the recent downturn.

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