Bitcoin and Big Caps Take Over Post-Election: Can Ethereum Reclaim Its Lead?
- Bitcoin, XRP, and Solanas rise post-election signals growing dominance, with large caps overtaking smaller coins in market share.
- The shift to large-cap coins is seen as a positive trend, with Bitcoin acting as a safer investment amid market uncertainty.
- Ethereums return to dominance is crucial for a balanced market recovery, as it has historically led altcoins trends and price movements.
Daan Crypto Trades highlighted that there was a significant change in the market after the recent US elections with Bitcoin and other cryptocurrencies registering high values. Since the elections, the share of BTC and the other top 100 cryptocurrencies in particular have steadily risen and continue to take more of the market.
The increase in dominance is owed to Bitcoins rally and other large cap alts, XRP and Solana (SOL). As synced with BTC, these coins led investors toward diverting the market share to larger and large-cap coins from small and mid-cap coins.
Big Caps Lead Market Shift
Many of the crypto specialists consider this tendency as a beneficial factor for the development of the market and its stability. The major stake holder concentrated their stakes in bitcoin believing that it is a safer investment haven in time of high risk in the market. Thus, Bitcoins recovery coupled with the movements of XRP and SOL represents a clear trend of market maturity with the big fish overtaking the small fry.
However, analyst pointed out that for this trend to be viewed as healthy narrative, Ethereum (ETH) has to get back to the list of leading coins once again. In the past, ETH was one of the most representative tokens of the altcoin market, serving as a reference concerning price fluctuations and tendencies. This is an opportunity that might be viewed as missing in the current leaders hierarchy of the market, which can pin the high-altcoin recovery and shift the sentiment in the market.
Bitcoin Leads, Ethereum Lags
The fresh rally has been fairly impressive both for BTC and other major altcoins, however, Ethereums participation in a balanced approach is important. Ethereum often sets trends for the other coins to follow and without Ethereum, the altcoin market may not be able to bounce back to the exuberant rally that was witnessed in the past.
Ethereum is still the center stage as the market advances forward in the post-election era. Those interested in crypto and market analysts expect ETH to regain footing and provide a stimulus for other altcoins to also increase their value. For now Bitcoin accompanies the continued dominance, while XRP and SOL in particular give a note of optimism regarding currencies despite several remaining questions.
Read more: https://www.tronweekly.com/bitcoin-and-big-caps-take-over-post-election/
Text source: TronWeekly
