In a Nov. 15 post on X, Kaiko, a leading market data provider, reports the market share of altcoin and Ethereum spot volume relative to Bitcoin has risen to 60%.
This marks its highest level in more than a year.
Catching attention
Kaiko’s data goes on to show that market share volumes were sitting at 55% back in August of this year, with previous months being dominated by Bitcoin (BTC).
It is worth noting that market sentiment towards Ethereum (ETH) and other altcoins has caught the attention of many headlines in the last few weeks, both in relation to ETF news and the Federal Reserve’s decision on interest rates.
Notably, a Nov. 14 post, also from Kaiko, had shown that ETH/BTC had been trending downwards since the Merge; however, following BlackRock’s filing for a spot ETH ETF, the ratio had seen a reversal, while at the same time, several altcoins have since shown double-digit pumps according to CoinMarketCap’s 24-hour charts.
According to Fortune, these numbers suggest the return of risk on and “old times” are now imminent.
A different market cycle
In contrast to last month, on Oct. 17, Bitcoin had experienced a significant surge, soaring by almost 10% to surpass $19,500. Conversely, major altcoins such as Ethereum had sustained a downward trend.
At the time, the Crypto analyst Jason Pizzino attributed this disparity between Bitcoin and altcoins to be something expected based on the current market cycle.
Credit: Source link
Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
USDC 
XRP 
Lido Staked Ether 
Dogecoin 
TRON 
Cardano 
Toncoin 
Wrapped stETH 
Shiba Inu 
Wrapped Bitcoin 
Avalanche 
WETH 
Chainlink 
Bitcoin Cash 
USDS 
LEO Token 
Polkadot 
Sui 
Litecoin 
NEAR Protocol 
Wrapped eETH 
Aptos 
Uniswap 
Pepe 
Internet Computer 
Dai 
Bittensor 
Artificial Superintelligence Alliance 
Monero 
Kaspa 
Ethena USDe 
Stellar 
WhiteBIT Coin 
Ethereum Classic 
First Digital USD 
POL (ex-MATIC) 
Stacks 
OKB 
dogwifhat 
Aave 
Filecoin 
Arbitrum 
Cronos 
Mantle 
THORChain 
