Bitcoin Dominance in Crypto at Lowest Point Since February

Traders seem to pine for the bitcoin volatility that was once the norm – and they expect it to return after what has been a lull. “Trading bitcoins is about as exciting as sitting in traffic,” said Jack Tan, founding partner of Taiwan-based quantitative firm Kronos Research. “I’m guessing bitcoin’s time will come in the next couple of months, but for now just enjoy the altcoin and equities rallies.”

Indeed, alternative coins to bitcoin, or altcoins, are picking up traction. Bitcoin’s dominance, a measure of the world’s oldest cryptocurrency occupies crypto market share, is down to 63%. It’s a level not seen since Feb. 18, as traders look towards non-bitcoin assets, particularly in the decentralized finance, or DeFI, space.