June 21 (Cointime) - For the first time since February 2021, Ethereum's market capitalization has surpassed that of all altcoins in the crypto market, including major projects like Solana and Cardano.

As of June 20, Bitcoin still dominates the cryptocurrency scene with a market cap of over $541.9 billion, representing nearly 50% of the total crypto market cap. Ethereum's market capitalization can be attributed to factors such as its first-mover advantage in implementing smart contracts, its reliability, and its anchoring of decentralized finance and non-fungible token activity.

Meanwhile, Bitcoin's dominance continues to rise, standing at around 49.9% and being the only cryptocurrency asset declared property and a commodity in the United States.