While there were significant increases in the market value of Bitcoin and Ethereum, most of the altcoins could not catch up with this momentum.
On-chain analysis platform Glassnode is up to date in the analysisevaluated Bitcoin (BTC), Ethereum (ETH) and altcoins in terms of market value. In the evaluation made since the first day of the 2024 fiscal year, Bitcoin’s 17.6% And Ethereum’s 18.2% While it was stated that the market value increased by The altcoin market remains slower was expressed.
It has been noted that Ethereum, in particular, has performed better in recent weeks, with spot Ethereum ETF expectations rising following the approval of the spot Bitcoin exchange-traded fund (ETF). In this process, altcoin market value only 8.1% increase showed. In this process, cryptocurrency piwhich raises the total value of the law The two most important players were obviously Bitcoin and Ethereum:
We note that following the approval of the Bitcoin ETF, ETH began to outperform BTC, which has been a relatively underperformer throughout 2023. On the other hand, total Altcoin market cap did not perform as well; YTD growth was less than half that of the two majors.
On the other hand, analysts stated that in the past bull markets, firstly Bitcoin and Ethereum rose and then there was a revival in altcoins in general. The altcoin market has a larger share to rise in the coming period. It reminded me.