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Google Trends has revealed that search figures for altcoins have soared recently, showing that interest in everything, except Bitcoin, on the market is surging. Meanwhile, according to the recent analytics report, BTC dominance has fallen by 6%.
Altcoin search results spike while BTC dominance drops
The altcoin market is blooming in the green zone, with such major coins as Ethereum, Dogecoin, Solana, LINK, etc., showing the largest gains in the top 10 coin range.
Ethereum has soared above $4,600, rising by almost 31% over the past week. Solana has increased 22.91% over the past week. Dogecoin has shown an increase of 23.33%.
With Ethereum trading at $4,712 at press time, the second-largest cryptocurrency is down 3.6% from its all-time high price of $4,891 reached in November 2021. Ethereum spot ETFs have seen mind-blowing cumulative inflows of roughly $1 billion in a single day. BlackRock’s ETHA sucked in more than half of this amount — $640 million, while the Fidelity Ethereum Fund (FETH) scooped up $276 million. By now, Ethereum ETFs hold a total of $25.71 billion of assets under management.
Meanwhile, according to a report from the Glassnode analytics company, Bitcoin dominance on the crypto market has fallen by 6% — from 65% to 59% — over the past two months, reflecting growing retail interest in altcoins.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team