Matrixport: The altcoin craze has not yet arrived, and retail investors have not entered the market on a large scale

2024-10-22 15:35:28

Collection

ChainCatcher news, Matrixport released a research report stating that Bitcoin's market dominance continues to rise, now reaching 58%, indicating that the altcoin boom has not yet arrived. Although there are over 20,000 cryptocurrencies in the market, attention remains highly concentrated on Bitcoin. Bitcoin's dominance suggests that the inflow of ETF funds has not significantly impacted altcoins, while also implying that retail investors have not yet entered the market on a large scale.

Bitcoin's trading volume has doubled from $10 billion to $20 billion in 2023, reaching $20 billion to $40 billion, further highlighting the increasing influence of Bitcoin. From a risk-adjusted perspective, Bitcoin remains one of the most attractive trades in the current crypto market.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.