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- Analyst hints that altseason could soon emerge as Bitcoin loses its dominance from 60% to 56% in just a month while ETH, XRP, SOL, and ADA battle to take charge.
- Meanwhile, almost all the top altcoins have printed losses on their daily, weekly, and monthly price charts.
Bitcoin’s (BTC) dominance has been on a steady decline since hitting a new all-time high at $108 last year. According to our market data, the asset has declined by 8% in the last 30 days to trade at $93.5k. Altseason has also been predicted to emerge soon as its notable index recently moved to 53/100.
Analysts believe that this is the highest point since April 2024 as altcoins attempt to outperform Bitcoin. Meanwhile, it will need to hit above 75% to confirm this much-anticipated season.
BTC and ETH
Delving into this, we found that Bitcoin dominance was around 60% a month ago. However, this has declined to 56. Ethereum’s dominance, on the other hand, is slowly building up, with its BTC pair bouncing from a low range. Even so, the rebound is still not strong enough to significantly push its market share from just 11%, aligning with a recent prediction that ETH’s market share may not exceed 10-15% this cycle.
At press time, ETH had printed negative gains across its various trading periods, as its 24-hour chart showed a 2% decline. Additionally, the asset has fallen by 12% in the last seven days and 18% in the last 30 days. Amid the backdrop of this, 2025 has been tipped to be a “big year” for altcoins, per a CNF report.
Performance of XRP and Solana (SOL)
XRP has strongly held its position above the $2.4 support level by maintaining a positive return of 3% on its weekly price chart. On the 24-hour and monthly chart, XRP has only recorded losses of 2% and 0.4%, respectively, underscoring its resilience and strength in the face of headwinds. The asset’s current market share sits at 4.3%, while its 24-hour trading volume stands at $2.29 billion, with a 29% decline. However, an analyst expects XRP to hit $50 or $100, as earlier featured by CNF in a new piece.
Just like most of the top cryptos, Solana also appears to have lost its footing as it declined by 1.68% in the last 24 hours, 14.7% in the last seven days, and 18.9% in the last 30 days. Currently, the asset is trading at $183 as $2.13 billion worth of SOL changes hands at press time.
Cardano (ADA) and Shiba Inu (SHIB)
Cardano’s ADA is expected to lead the upcoming altseason, however, the price “appears helpless” amid the current bearish wind. At press time, the asset had declined by 6% in the last 24 hours, 12.9% in the last seven days, and 15.7% in the last 30 days to trade at $0.93. Fascinatingly, the ongoing trend is evident in its market movement as trading volume declines by 29.6% to reach $904 million.
Shiba Inu, one of the top two biggest meme coins has equally taken a nosedive to $0.0000209 after falling by 3.9% in the last 24 hours, 12% in the last seven, and 26% in the last 30 days. Currently, the 24-hour trading volume of SHIB has declined by merely 2% as $398 million changes hands. Meanwhile, confidence remains high as Shiba Inu wallets reach a new high of 1.38 million, as recently mentioned in a CNF report.
