The cryptocurrency market demonstrates early signs of rotation, with Ethereum's dominance increasing and altcoins actively growing.
Current State of the Cryptocurrency Market
Ethereum has reached a dominance of 13.74% after reclaiming the $4,800 level. Bitcoin remains the leading currency with a dominance of 57.02%, while the 'Others' category is at 24.81%.
Capital Rotation into Altcoins
The cryptoELiTES chart shows that the dominance of Others has risen to 0.53%, suggesting a strong potential for altcoin growth. If a similar rebound occurs, the dominance of 'Others' could surge, confirming a structural shift and initiating an altcoin season.
Growing Trading Volumes of Altcoins
Altcoins are recording stronger performances amid increasing trading volumes. Solana surged 8.42%, reaching $210.77, while XRP shows a trading volume of $9.08 billion. This indicates growing investor interest and the possibility of a reinvestment period into altcoins.
Currently, there is a clear trend toward increasing volumes and altcoin dominance, which could herald a prolonged period of growth for these assets.
