In the last 35 days, Ethereum has lost a lot of its market dominance leading up to The Merge. on August 14, 2022, the second major crypto asset by market cap, had about 19.5 percent market dominance, but three days after the transition to Proof of Stake (PoS), it dropped 13 percent lower to 16.8 percent.
In 35 days, Ethereum’s market dominance slid down 13%
Ethereum’s market valuation fell significantly over the past month after reaching$1996 per uniton August 14, 2022. At that time, Ethereum’s market capitalization was $239.74 billion and. ETH’ss market dominance was approximately 19.5% of the $1.225 trillion crypto economy. Bitcoin’s market dominance was about 38.2% at the time, and 35 days agoETHhad a market valuation of about $470.79 billion in BTC
While BTC’s market dominance remains roughly the same, the net value of the crypto economy of $1.225 trillion back in August has plummeted to $99.4 billion today. The crypto economy has lost 2.2% in U.S. dollar value over the past 24 hours, with Ethereum’s market dominance now down to 16.8% after the market capitalization of the second major crypto asset fell from $239 billion to $166.64 billion today.
ETHhas suffered heavy losses in the 24-hour statistics, with ether down 5.8% on Sunday and 22.4% over the past seven days.37} Bitcoin (BTC)has fallen 1.4% on Sunday, while. BTC‘s weekly statistics show that the leading crypto asset by market capitalization is down 9.1% against the U.S. dollar. Over the past day, $58.13 billion in global swaps were executed across the crypto economy, with just over 20% of that volume, or $12.17 billion, inETHtransactions.
Ethereumhas a wide range of trading pairs, with BUSD leading the pack with 35.10% of today’sETH swaps. Tether (USDT) accounted for 33.34% of Sunday’s Ethereum trading, with USD gaining 9.78%. The greenback follows with; BTC swaps account for 4.45% of; ETHpairs for 4.45%; JPY for 2.33%; stablecoin USDC for 2.23% of; ETHgains in trading volume; and USDTgains in trading volume. Binance and FTX are theETHmost active trading platforms on ETH
The merge brought minimal gains to Ethereum, as the year-to-date (YTD) statistics showETHdeclined 59.6% and over the past 30 days, the second leading crypto asset by market caps 25.4% decrease. During the past 24 hours on Sunday,.ETHtraded in a range between $1,471 per unit and $1,376 per unit; in addition to the YTD data,.ETHtraded at a record $4,878, printed 10 months ago on November 10, 2021. down 71.7% from its all-time high of $4,878.
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