Ethereum’s market dominance keeps fallingOn April 9, Ethereum’s market dominance, or the measure of Ether’s share of crypto’s overall market capitalization, hit a new multiyear low of 7.18%, according to Cointelegraph Markets Pro and TradingView data. This value was merely a hair’s breadth above the all-time low of 7.09% reached in September 2019.“Ethereum dominance is so very close to registering new all-time lows,” said popular crypto analyst Rekt Capital in an April 13 post on X, adding:“Ethereum Dominance needs to hold this green area to position itself to become more market-dominant over the coming months.”ETH market dominance %.
Meanwhile, Ether’s closest competitor in terms of market capitalization, XRP (XRP), has seen its dominance rise by over 200% over the same timeframe. Its top layer-1 rival tokens, BNB Chain’s (BNB) and Solana’s (SOL), have also seen 40% and 344% increases in their market dominance since 2023. Several reasons for this underwhelming performance include weak institutional demand evidenced by negative ETF flows, a sluggish derivatives market, and increasing competition from other layer-1 blockchains.
In comparison, Solana’s dominance in terms of TVL has increased by 172% over the same period. Total value locked market share (%).
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Author / Journalist: Cointelegraph by Nancy Lubale
The story "Ethereum market share nears historic lows as ETH price risks falling to $1,100" has 463 words across 22 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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