Forex and Crypto News

The dominance of Ethereum exceeded 10%

18:08 24 February /2020

The dominance index of Ethereum (ETH) reached 10.4%, the last time a similar indicator was recorded in early June 2019.

Note that in January last year, the dominance of ETH exceeded 11%, then this indicator began to decline. In parallel, there was a tendency to increase the share of Bitcoin in the cryptocurrency market. Now the BTC dominance index is 62.8%.

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The Ethereum exchange rate fell to $265 on February 24, altcoin's market capitalization fell to $19.427 billion. Although only in the middle of the month the capitalization of Ethereum exceeded $30 billion (with the price of $281).

The Ethereum ecosystem is expanding rapidly. Glassnode service recently reported that the number of active addresses on the Ethereum blockchain jumped by almost 27%. In parallel, there is a tendency to increase the number of transactions in the network.

One of the factors behind the growth of the ETH ecosystem is the DeFi decentralized services market. The popularity of the underlying asset of the project will grow with the further expansion of the DeFi market, experts say.

Investors already now prefer to transfer part of their capital to the cryptosphere, since the retention of funds in traditional assets is becoming less profitable due to the policies of central banks.

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