Bitcoin Dominance Dives As Ethereum Takes Up More Space

The recent market recovery has seen digital assets such as Bitcoin and Ethereum put on significant amounts of value over the last couple of days. However, there have been some who have been market leaders in this regard, and Ethereum is one of them. The digital asset had rallied upwards due to the announcement that the Merge was happening in September, but that is not the only aspect where the second-largest cryptocurrency in the crypto market had recorded a recovery. Ethereum Steals Market Dominance Ethereum’s rally above $1,500 had seen its market cap grow above $190 billion once more. The digital asset had posted some of the largest gains over the last couple of weeks, with a more than 40% recovery. This has seen the asset’s dominance across the industry grow. Related Reading | Liquidations Cross $230 Million As Ethereum Barrels Past $1,400 Although Ethereum still remains the cryptocurrency with the second-largest market dominance, it has added more over the last two days. This has seen it creep into bitcoin’s market cap as the pioneer cryptocurrency struggles to keep up with the market gains. Over the last couple of days, bitcoin has watched its market dominance declined by more than 2%. This market share was quickly soaked up by Ethereum, which has seen its dominance rise in this time period. It added more than 2% to go from straggling around $16% to its current dominance of 18.9%. ETH dominance adds 2% | Source...