Matrixport: Altcoins perform weakly, Bitcoin dominance rises to 60%
Matrixport stated on the X platform that, driven by multiple positive factors, Bitcoin's market dominance will steadily increase from 50% to 60% by 2024. This trend reflects Bitcoin's strong support in the entire cryptocurrency market. More and more traditional financial (TradeFi) investors are allocating Bitcoin through ETFs, and the proportion of open positions in CME Bitcoin futures is also significantly increasing.
At the same time, altcoins are in stark contrast to the explosive growth of the DeFi boom in 2020-2021 due to the decline in user activity and token unlocking pressure. Now, investors are seizing the opportunity to gradually transfer their crypto assets to Bitcoin, validating Michael Saylor's view that "the only choice is the best choice."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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