ETH Price Dominance Flips Bitcoin Amid Market Correction
Ethereum, the second-largest cryptocurrency by market capitalization, is gaining market dominance, surpassing its predecessor, Bitcoin.
This development comes amid a market correction and the disappointing reception of a Bitcoin Exchange-Traded Fund (ETF).
Ethereum’s smart contract capabilities and decentralized applications ecosystem have gained traction over the years. According to Santiment, Ethereum’s price supremacy has increased by 22.4% in the last week, with 89.4K new Ethereum addresses created daily.
This growth is accelerated by recent market dynamics and a surprising setback for Bitcoin. A remarkable 96.3K wallets were created just yesterday.
With inputs from Shikha Singh
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