Merge Flippening Predictions Fail as Ethereum’s Market Dominance Drops 13% in 30 Days – Market Updates Bitcoin News

In the 35 days since The Merge, ethereum lost significant market dominance. On August 14, 2022, the second leading crypto asset by market capitalization, ethereum, had a market dominance of around 19.5% but three days after the transition to proof-of-stake (PoS), it’s down 13% lower to 16.8%.

In 35 Days, Ethereum’s Market Dominance Slides 13% Lower

Ethereum’s market valuation has dropped a great deal during the past month after reaching $1,996 per unit on August 14, 2022. At that time, ethereum’s market cap was $239.74 billion, and ETH’s market dominance out of the $1.225 trillion crypto economy was roughly 19.5%. Bitcoin’s market dominance was approximately 38.2% at the time, and 35 days ago, BTC’s market valuation was around $470.79 billion.

Merge Flippening Predictions Fail as Ethereum’s Market Dominance Drops 13% in 30 Days
Archived Dominance stats from on Sunday, September 18, 20,22, and Monday, August 14, 2022. Statistics taken at 6:55 pm (ET).

While BTC’s market dominance has remained roughly the same, the crypto economy’s net value of $1.225 trillion back in August has plunged to today’s $994 billion. Over the last 24 hour, USD has fallen by 2.2%. Ethereum’s market dominance is now down to 16.8% after the second leading crypto asset’s market cap slipped from $239 billion to today’s $166.64 billion.

Merge Flippening Predictions Fail as Ethereum’s Market Dominance Drops 13% in 30 Days
On September 18, 2022, ETH/USD. At 20:58 (UTC), statistics were recorded

ETH is suffering significant losses. The 24-hour stats show that ether fell 5.8% Sunday, and has dropped 22.4% the previous seven days. While bitcoin (BTC) is down 1.4% on Sunday, BTC’s weekly stats indicate the leading crypto asset by market cap is down 9.1% against the U.S. dollar. Over the last 24 hours, global swaps totalled $58.13 trillion. Only $12.17 Billion, or just under 20%, was executed in crypto-related transactions.

Ethereum has a broad spectrum of trading pairs with BUSD leading the pack capturing 35.10% of today’s ETH swaps. Tether (USDT) commands 33.34% of Sunday’s ethereum trades, and USD captures 9.78%. The greenback is followed by BTC swaps representing 4.45% of ETH pairs, JPY commands 2.33%, and the stablecoin USDC captures 2.23% of ETH’s trade volume. Binance and FTX are ETH’s most active trading platforms on September 18.

Merge had minimal impact on ethereum. Year-to-date statistics for ETH show a drop of 59.6%. During the last 30 days, the market capitalization of the second-leading crypto asset lost 25.4%. During the past 24 hours on Sunday, ETH’s trading range has been between $1,471 per unit to $1,376 per unit. ETH’s trading range has been between $1,471 per unit and $1,376 per unit for the past 24 hours. This is in addition to YTD data. It was at its lowest price since November 10th, 2021, when it reached $4,878.

In this story, tags
BTC Dominance and 13% Dominance. BTC swaps. BUSD. Crypto assets. Dominance. ETH dominance. Market Caps. Market Dominance. Market updates. Swaps. Tether. Trade volume, trading. USDC. USDT.

What do you think about ethereum’s market dominance sliding 13% during the last month? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for News, with over 6,000 articles on disruptive protocols.

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