The altcoin season is marked by bitcoin’s dominance falling below 40%.
Bitcoin’s dominance in the digital asset market fell below the 40% mark in midweek, marking an increase in investor interest in various cryptocurrencies, not just bitcoin.
For example, investors invested more than $35 million in Shiba Inu in just one day, with one major holder of such assets purchasing another $3.3 trillion SHIB, spending $33.6 million. Daily trading averaged over $617 million this week, and the price of SHIB has risen 15% over the past seven days.
In terms of the functioning of the SHIB ecosystem, what draws attention is the increased rate of decline in the overall supply of such assets, down 1.934% in just one day.
Another digital asset, Dogecoin, managed to rise in price by 29.56% in two days after investors invested an additional $2.35 billion in it, bringing the asset’s capitalization to $10.3 billion.
Investor interest in other altcoins is also on the rise. Thus, over the last seven days, SOL added 8.9%, which is less than Ethereum (+16.7%), with which it competes, but more than the bitcoin (+5,8%).