Ethereum has become the focus of the crypto market, reaching the $4K mark. This has sparked discussions about the onset of the altseason.
Ethereum vs Bitcoin
The dominance charts of Ethereum and Bitcoin show that Ethereum has grown by over 30% in the last month, while Bitcoin's dominance has decreased by nearly 6.5%.
The Need for Other Altcoin Growth
Experts note that for a true altseason to begin, other leading coins, like ADA, DOGE, XRP, BNB, and SOL, must show significant growth. Cryptocurrency commentator Benjamin Cowen stated, 'This is not alt season. This is ETH season. Let's not confuse the two.'
Bitcoin Dominance Declining
According to charts, Bitcoin's dominance is nearly 60% at the time of writing. If this figure continues to drop, it would be a significant step for altcoins to outperform Bitcoin.
While discussions surrounding the onset of altseason continue, it is crucial to monitor market actors and factors that might influence further changes.
