Alphractal has released a new report revealing a sharp decline in DeFi's market dominance. The dominance now stands at less than 3%, marking the lowest level since early 2021.
Key Findings from Alphractal's Report
The report highlights the significant drop in DeFi's market share, currently less than 3%. This decline indicates a shift in capital allocation within the crypto ecosystem.
Outlook for Specific DeFi Assets
Despite the overall downturn, Alphractal identifies assets like LINK, HBAR, AVAX, OM, UNI, AAVE, DEXE, JUP, ENA, and MKR with strong fundamentals that may offer resilience and growth.
Bitcoin's Market Dominance
Bitcoin remains the undisputed leader with a market dominance of 61.65%. During previous altcoin bull markets, this rate had dropped to 39%. BTC dominance has been on an upward trend since the beginning of 2023, equivalent to May 2021 levels.
Despite the current decline in DeFi's market share, experts suggest potential for long-term growth in this sector due to strong assets. Bitcoin maintains its dominance, indicating stable leadership in the crypto industry.
