u.today
29 October 2024 20:46, UTC
Bitcoin's market dominance has now surpassed the 60% level for the first time since early April 2021, according to data provided by TradingView. Its market cap currently stands at $1.43 trillion.
The cryptocurrency's market share is up nearly 17% since the start of the year.
It has surged by nearly 5% during this October alone, with Bitcoin leaving altcoins in the dust.
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The flagship cryptocurrency reached a multi-month high of $73,562 earlier today, coming extremely close to a new record peak.
As reported by U.Today, the crypto king has already logged new all-time highs in several major currencies.
Bitcoin maximalists are busy celebrating the recent milestones. "Altcoins are dying because Bitcoin is crushingly superior. The tortoise wins this race," Tuur Demeester said in a social media post.
On Oct. 28, the $ETH/$BTC pair collapsed to 0.036 $BTC, its lowest level since April 2021.
Ethereum ($ETH) is still a whopping 46% away from reclaiming its record high.
The $ETH/$BTC pair is down nearly 60% over the past two years.
On Oct. 28, spot-based Ethereum ETFs recorded roughly $1.1 million worth of outflows in the US. This is despite the fact that corresponding Bitcoin products saw a whopping $479 million worth of fresh inflows.
Meanwhile, Ethereum co-founder Vitalik Buterin laid out an ambitious roadmap, which consists of a total of six tracks.
Despite the extremely underwhelming performance, some Ethereum proponents believe that the asset will still be able to emerge victorious in the long term.
For now, however, the so-called "flippening" remains an extremely far-fetched scenario.
