Matrixport: Altcoins are underperforming, Bitcoin's dominance rises to 60%
Matrixport released a chart stating that, driven by multiple positive factors, Bitcoin's market dominance steadily rose from 50% to 60% in 2024. This trend reflects the strong support of Bitcoin in the entire crypto market. More and more traditional finance (TradeFi) investors are allocating Bitcoin through ETFs, and the proportion of CME Bitcoin futures' open contracts in total Bitcoin futures trading volume is also significantly increasing.
At the same time, altcoins are limited by declining user activity and token unlocking pressure, forming a stark contrast with the explosive growth during the DeFi boom period of 2020-2021. Now, investors seize opportunities to gradually transfer their crypto assets to Bitcoin, validating Michael Saylor's view: "The only choice is the best choice."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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