Matrixport: Bitcoin's dominance rate rises to 58%, and the counterfeit coin craze is delayed

Odaily Planet Daily News: The market dominance rate of Bitcoin continues to rise, now reaching 58%, indicating that the counterfeit coin craze has not yet arrived. Although there are over 20000 cryptocurrencies on the market, the focus of the market is still highly concentrated on Bitcoin. The dominant position of Bitcoin indicates that the inflow of ETF funds does not have a significant driving effect on altcoins, while implying that retail investors have not yet entered the market on a large scale. The trading volume of Bitcoin has doubled from $10 billion to $20 billion in 2023 to $20 billion to $40 billion, further highlighting the increasing influence of Bitcoin. From a risk adjustment perspective, Bitcoin remains one of the most attractive transactions in the current cryptocurrency market.