The share of Ethereum (Eth.d) reached 14.98% in August, which became the highest in September 2024. This coincided with the moment when the price of ETH reached a new maximum.
Meanwhile, the dominance of bitcoin (BTC.D) continues to decline. This discrepancy in dynamics caused forecasts of analysts about significant changes in the market in the near future.
Bitcoin and Ethereum: Capital rotation
The data from the Beincrypto Markets showed that the second largest cryptocurrency went around the first in the last month. The cost of bitcoin has fallen by 5% over the past 30 days.
At the same time, Ethereum went up by 23.4%. Ethereum dominance is also growing since July, while BTC.D is moving in the opposite direction. Yesterday, Eth.D reached an annual maximum of 14.98%.
At the time of writing, the indicator was adjusted to 14.54%. Meanwhile, BTC.D amounted to 58.2%, which is the lowest level since January 2025.
This dynamics emphasizes the growing trend of capital rotation. Trends of purchases of large investors also confirm this.
In a recent post on X (previously Twitter), the cryptoanalyst noted that since July, large investors on Binance have been actively buying ETH through spawning and futures orders.
Meanwhile, Beincrypto also said that several old bitcoin-wallets are changing their positions and selling long-term BTC reserves in favor of Ethereum.
Public companies increase their investments in Ethereum, spending billions of dollars on the purchase of ETH. Moreover, Eth balance on exchanges fell to a new minimum of 18.3 million.
The decrease in Ethereum reserves on exchanges suggests that investors prefer to hold assets, waiting for price growth.
Some analysts believe that capital can move from bitcoin to Ethereum and further to altcoins, supporting a market rally.
Benjamin Cowen, CEO and founder of Into The Cryptoverse, previously predicted that after the growth of Ethereum, Bitcoin may again become a leader.
The forecasts vary, but in general they are optimistic. It is not yet clear who will become the main beneficiary in the future – Bitcoin or other altcoins.
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Source: Cryptocurrency
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