In the early months of 2024, Ethereum’s market dominance stood at 16.96%, showcasing a rollercoaster journey ever since. It reached a high of 19.28% in February, only to plummet to a low of 15.42% by mid-May. A brief resurgence occurred before the introduction of Ethereum spot ETFs, propelling dominance to 18.8% in June.
However, the initial excitement soon waned, and Ethereum’s dominance has since declined by approximately 5.42%. The burning question now lingers: Can Ethereum stage a comeback in 2025?
Bitcoin, on the other hand, has maintained a robust market position throughout the year, witnessing a remarkable surge of over 115.76%. Starting 2024 with a dominance of around 51.58%, Bitcoin currently holds a staggering 58.71% dominance. Despite a slight dip between November and December, with dominance dropping from 61.19% to 55.11%, Bitcoin has consistently outshined Ethereum and the altcoin market.
While Ethereum experienced a brief uptick in dominance between November and December, it has since plummeted by at least 1.09% post-December 7. The altcoin market as a whole has seen a growth of 65.18% this year, with Ethereum’s growth lagging behind at 40.96%. This indicates that Bitcoin has emerged as a frontrunner, surpassing Ethereum and the broader altcoin market in terms of performance.
The launch of Ethereum ETFs in 2024 drew in substantial investments; however, reports indicate that this had minimal impact on Ethereum’s price. The initial hype surrounding the ETFs quickly fizzled out, leading traders to question Ethereum’s potential for significant upward movements.
Looking ahead to 2025, experts suggest that Ethereum enthusiasts remain patient. They anticipate a potential shift in market sentiment in favor of Ethereum, leading to a potential boost in its price. Despite the challenges faced by Ethereum in 2024, there is optimism for a more robust performance in the upcoming year. With strategic developments and a favorable narrative, Ethereum could potentially stage a compelling comeback in 2025.