The cryptocurrency market has suddenly shifted back to Bitcoin (BTC) after several months of a decentralized finance (DeFi) frenzy. While market cap dominance remains below 60%, earlier this month, the trading dominance of BTC has spiked to levels not seen since 2017 when the price hit an all-time high at $20,000.
The trading dominance of Bitcoin against other major cryptocurrencies. Source: TheTie
Due to the growing dominance of Bitcoin in terms of market volume, the alternative…