On-chain data shows the trading dominance of altcoins is now more than 50%; here’s what this may mean for Bitcoin.
Altcoin Trading Dominance Has Increased To More Than 50%
As pointed out by an analyst in a CryptoQuant post, sustainable moves in the market have usually started with Bitcoin going up first. The “trading dominance” indicator measures the percentage of the total trading volume that any crypto is contributing.
When the value of this metric rises for any coin, it means the volume share of that particular coin is going up, showing that there is increased trading interest from investors. On the other hand, declining dominance suggests the coin is losing steam as not many holders are trading it compared to the rest of the market.