Over the past 35 days, Ethereum has lost a significant portion of its pre-merger market dominance. On August 14, 2022, the second-largest crypto asset by market capitalization, ethereum, dominated the market by around 19.5%, but three days after the switch to proof-of-stake (PoS) it is down 13% to 16 .8%.
In 35 days, Ethereum market dominance drops 13%
Ethereum’s market valuation has fallen significantly over the past month after hitting $1,996 per unit on August 14, 2022. At that time, the market capitalization of Ethereum was $239.74 billion, and ETHThe market dominance of the $1.225 billion crypto economy was around 19.5%. Bitcoin’s market dominance was around 38.2% back then, and 35 days ago, BTCThe market valuation of was around $470.79 billion.
Whereas BTCMarket dominance has remained roughly the same, with the crypto economy’s net worth of $1.225 trillion in August plunging to $994 billion today. The crypto-economy has lost 2.2% in USD value over the past 24 hours. Ethereum’s market dominance has now fallen to 16.8% after the market cap of the second crypto asset rose from $239 billion to $166.64 billion today.
ETH suffered significant losses as 24-hour stats show Ether is down 5.8% on Sunday and 22.4% over the past seven days. Whereas Bitcoin (BTC) is down 1.4% on Sunday, BTCWeekly statistics indicate that the leading crypto asset by market capitalization is down 9.1% against the US Dollar. Over the past day, $58.13 billion worth of global swaps were executed across the crypto economy, and $12.17 billion, or just over 20% of that volume, have been ETH professions.
Ethereum has a wide range of trading pairs with BUSD leading the pack capturing 35.10% of current price ETH trades. Attached (USDT) commands 33.34% of Ethereum transactions on Sunday and the USD captures 9.78%. The greenback is followed by BTC swaps representing 4.45% of the ETH pairs, JPY commands 2.33% and USDC stablecoin captures 2.23% of ETHthe volume of trade. Binance and FTX are ETHthe most active trading platforms on September 18.
Merger brought minimal gains to Ethereum, year-to-date stats show (YTD) ETH is down 59.6% and over the past 30 days, the second largest crypto asset by market capitalization has lost 25.4%. In the past 24 hours on Sunday, ETHThe trading range of was between $1,471 per unit and $1,376 per unit. In addition to YTD data, ETH is down 71.7% since the record price of $4,878 printed ten months ago on November 10, 2021.
What do you think of Ethereum’s market dominance down 13% in the past month? Let us know what you think about this topic in the comments section below.
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