According to data disclosed by Glassnode, after the approval of the spot Bitcoin ETF, Bitcoin is becoming more and more dominant overall. Compared with November 2022 when the FTX exchange collapsed, BTC's market dominance has risen from 38.9% to 49.8%. On the other hand, ETH has also maintained its market dominance, currently between 18.9% and 18.2%. The main cryptocurrencies losing market share in the cryptocurrency market are altcoins, whose market dominance has fallen from 28.3% to 24.2%, while stablecoins have also fallen from 13.9% to 7.8%.
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Data: After the spot Bitcoin ETF was approved, Bitcoin’s market capitalization dominance increased to 49.8%, while the share of altcoins and stablecoins fell.
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