Ether's recent surge after the successful deployment of the Ethereum Shanghai upgrade stalled BTC’s rising dominance rate on the crypto market. sndr_krisztian reports
BTC’s dominance rate rose to as high as 49.06% early Wednesday, according to TradingView data, before retreating to 48.12% as ETH’s price rose. The last time the metric was around the 49% level happened in July 2021, some 21 months ago, TradingView shows.The BTC dominance rate is the BTC market capitalization’s share of the total market cap of the cryptocurrency market.
. Ether dominance, similarly shows the second largest cryptocurrency’s relative value to the crypto market.of the crypto market. The shift has come after the Ethereum network’s long-awaited tech upgrade, also called Shanghai or Shapella, was deployed without a hitch late Wednesday.
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